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 Free Capital Markets
Dr DeRosa's book was entertaining, easy to read and packed with anecdotes and information. As an investment pro, his book gave me a greater insight into the often arcane political manipulations that eventually sow the seeds for economic instability. He pulls no punches when he states that central banks and governments themselves set themselves up to be the eventual "victims" of their own bad policies and instead of doing something different, they blame the speculator.I like his information "boxes" that help the reader with the technical details of the book. Although I have long been a fan of single currency idea's, DeRosa's book has given me reason to pause. Well referenced and well researched.The reviews by Dr Hanke and Dr Friedman can't hurt either.
Accolades from Milton Friedman
"In Defense of Free Capital Markets is an impressive survey and analysis of the crises of the 1990s. Mr. DeRosa makes a strong case that official intervention has made matters worse, not better, and that in such instances it is far better to leave it to the invisible hand of the market than to the clumsy, visible hand of regulators." --Milton Friedman Senior Research Fellow, Hoover Institution Nobel Economics Prize, 1976
Common Sense for Currency Buffs
Professor DeRosa offers up a generous helping of reality in evaluating the currency crises of the past dozen or so years. From the first world foibles of the Bank of Japan to the third world of currency pegs, the currency calamities of the late twentieth century are thoughtfully presented in a lean read. While perhaps giving short shrift to the political constraints facing policy makers in times of crisis, Mr. DeRosa nevertheless does well describing the environments and pre-conditions which ultimately fostered our most recent international financial catastrophes. In this, the age of fiat money, unsustainable currency policies are easy prey for the worlds biggest market. Anyone interested in a brief but informative history of recent currency debacles will truly enjoy this book.
Highly Recommended!
Yale University adjunct professor David F. DeRosa argues that markets are smarter than government ministries. Therefore, he contends, economic development should be left to the free market, since tighter regulations will only distort development. His detailed analysis of economic conditions focuses on factors leading to several crises, including the decline of the Mexican and Japanese economies in the 1990s and the Southeast Asian collapse of 1997. The subject is complicated and interesting, and the writing is often technical and sometimes complex. We at getAbstract call this book to the attention of scholars, executives and managers who have a serious interest in fiscal policy. And we do mean serious.
Free Capital Markets -- The Road to Prosperity
This work is illuminating and speaks to issues beyond the world of finance, like politics and ideaology. DeRosa lays out clear and consice arguments in defense of free floating exchange rates and against fixed exchange-rate regimes. The author debunks the propaganda supporting fixed exchange-rate regimes with insightful analyses based on the facts of the various currency crises that occured during the 1990s. Particularly interesting is the fact that leaders around the world are either ignorant of or chose to ignore the last ten (let alone the last 100) years worth of economic history and persist in attempting to control and plan economies. This book should be required reading not only for finance professionals and central bankers, but anyone interested in how the decisions of people in appointed positions (like the head of a central bank or finance ministry)have far-reaching and often dire consequences.
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