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Recommended Reading for Our Times
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senior fellow,
Council on Foreign Relations
"India: The Emerging Giant," by Arvind Panagariya (2008)
What it's about: Considered by some to be the definitive book on an economy growing at 8 percent per year -- partly on jobs being outsourced from the United States and other Western countries.
Bhagwati says:"India's rise as a major economic player has captured everyone's imagination and also the fears of U.S. workers who feel that they cannot compete with India and China. Panagariya's book uniquely chronicles and analyzes India's rapid emergence from three decades of stagnation under bad policies after reforms began in earnest in 1991. The book offers the best guide to all Americans who want to understand where India is coming from and also why she provides opportunities for U.S. investment and trade rather than the depressing competitive prospects offered by the pessimists."
SHEILA BAIR
Chairman,
Federal Deposit Insurance Corporation
"So Big," by Edna Ferber (1924)
What it's about: Winner of the Pulitzer Prize for fiction, "So Big" tells the story of a hardworking woman and her materialistic son.
Bair says:" 'So Big' is a fascinating story that contrasts the aspirations and values of a mother -- who grew up in economic hardship -- with that of her son who, through his mother's hard work, was given a secure, happy childhood and a quality education.
"After struggling to give her son opportunities to pursue his dreams, Selina must watch as he sets them aside in the empty pursuit of wealth. While Selina builds a thriving vegetable farm and derives contentment through her 'beautiful cabbages' and other produce, her son finds only frustration and lack of fulfillment when he forgoes a career as an architect for the pursuit of money and a sumptuous lifestyle.
