Boomerang Travels In The New Third World
Boomerang Travels In The New Third World by Michael Lewis, published by National Geographic Books on September 4, 2012, is a reprint edition comprising 224 pages. This book explores the global impact of the financial crisis that occurred between 2002 and 2008, focusing on how cheap credit influenced various societies and their behaviors. Lewis delves into the aspirations and follies of different nations, revealing how the allure of easy money led to unexpected transformations in their economic landscapes.
Readers will find a sharp analysis of economic conditions and the cultural implications of financial bubbles in this work. Lewis examines the contrasting desires of countries like Iceland, Greece, and Germany, while also scrutinizing the situation in the United States. Through a blend of humor and critical insight, the narrative challenges perceptions of foreign missteps and highlights the complexities of national identities in the face of economic temptation. This edition offers a thought-provoking look at the interconnectedness of global economies and the consequences of financial indulgence.
Official synopsis Publisher
“Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, Forbes
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.
Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.
Michael Lewis’s investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
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