The Importance of Relationships and a Social Conscience in Business
James Wolfensohn has an interesting life story to tell and he tells it in an engaging and easy to read manner. I was interested to read the story of how a middle class Australian kid found his way to the corridors of power in London and New York. The answer is that he's an old-fashioned guy who innately understood that relationships and cultural interests are just as important as technical skills in getting to the top. Wolfensohn is the epitome of an urbane, globe-trotting executive who can use his charm to win both business and cultural success.
I was intrigued by some other (less than glowing) reviews by people who appear to have some inside knowledge and claim that all was not fine and dandy within his family -- so this may not be a warts and all autobiography, but it is a stroll through the career of important figure in world finance.
He has a modest writing style and never seems to forget where he came from but I suspect he was a more imposing and dictatorial figure than these pages let on. Heading a large institution such as the World Bank would no doubt require all of his persuasive powers and his descriptions of bureaucratic inertia ring true. The book was published in 2010 - some 5 years after the second of his 2 five years terms heading the bank came to a close. Given this timing, I was a little surprised he did not address climate change in any significant way (just a short mention near the end of the book). It was probably early days in this debate, but the impact of global warming on sub-Saharan Africa and South America with all the attendant issues on food product and migration should have been high up on the Bank's agenda.
Like many such efforts, the book provides the author with a medium by which he can thank those who helped along the way and to take a dig at those who did not (the demise of his relationship with Kerry Packer was unfortunate but the blame appears to lie at the door of Chainsaw Al). As we move now into the third decade of the 21st Century it seems that a marriage between public institutions and the private/philanthropic sectors is ever more important. For example, Bill Gates is not constrained by politics and institutional lethargy and can get stuff done fast. I suspect this trend will accelerate. Given this, I wonder if James Wolfensohn is one of the last of a dying breed. I hope not.