Money and Power: The World Leaders Who Changed Economics

by Vince Cable

Through economics, our politicians have the power to transform people's lives for better or worse. Think Deng Xiaoping who lifted millions out of poverty by opening up China; Franklin D Roosevelt whose 'New Deal' helped the USA break free of the Great Depression. Or Peron and his successors in Argentina who brought the country to the brink of ruin.

In this magisterial history, economist and politician Vince Cable examines the legacy of 16 world leaders who transformed their countries' economic fortunes and who also challenged economic convention. From Thatcher to Trump, from Lenin to Bismarck, Money and Power provides a whole new perspective on the science of government. Examining the fascinating interplay of economics and politics, this is a compelling journey through some of the most significant people and events of the last 300 years.

Genres: Economics, Nonfiction, History

401 pages, Kindle Edition

Published February 4, 2021

About the author

John Vincent "Vince" Cable is a British politician and Leader of the Liberal Democrats. He was the Secretary of State for Business, Innovation and Skills from 2010 to 2015 and the Member of Parliament for Twickenham from 1997 until losing his seat in the 2015 election. He regained his seat in the 2017 election and became leader of the Liberal Democrats soon after.

Cable studied economics at the University of Cambridge and the University of Glasgow, before becoming an economic advisor to the Government of Kenya between 1966 and 1968 and to the Commonwealth Secretary-General in the 1970s and 1980s. From 1968 to 1974 he lectured in economics at Glasgow University. Later, he served as Chief Economist for Shell from 1995 to 1997. In the 1970s Cable was active in the Labour Party, becoming a Labour Councillor in Glasgow. In 1982 he joined the Social Democratic Party – which later joined with the Liberal Party to form the Liberal Democrats – and he unsuccessfully stood for Parliament in the general elections of 1970, 1983, 1987 and 1992 before being elected as the MP for Twickenham in 1997.

Cable became the Liberal Democrats Treasury Spokesman in June 2003, and was elected Deputy Leader of the Liberal Democrats in March 2006, becoming Acting Leader for two months in 2007 following Sir Menzies Campbell's resignation until the election of Nick Clegg. He resigned from both of these position in May 2010 after becoming Business Secretary.

Reviews

[Andrew Hickey · Rating 4 out of 5]

Very readable. Very insightful. Balanced. Intelligent. Everything you need to know about the reality of macro economics rather than the theory. As they say the best laid plans rarely survive the first encounter with the enemy.

[Daniel Clemence · Rating 4 out of 5]

Vince Cable has written what is a good economics book. Looking at leaders from Alexander Hamilton to Donald Trump, Vince Cable seeks to explain the economics of different governments from Lassiez Faire Capitalism to Socialism and the like. It kind of goes full circle as it starts out in an era of economic nationalism and ends with economic nationalism. Vince Cable is balanced in his approach and doesn't weigh heavily in promoting one view of economics above another.

Very good introduction to political economy.

[Weenie · Rating 3 out of 5]

Thought this was interesting - had heard of most of these leaders but no real idea of their economic policies and how the various countries reacted to them.

[David Tutt · Rating 5 out of 5]

An informative and balanced account of different economic models from around the world over the past 200 years.

[Chandy John · Rating 4 out of 5]

Money & Power is a very readable condensed account of the economic policies followed by certain statesmen in certain countries, that have an outsized influence, for better or worse.
The chapters on Argentina & Singapore were the best. Would have loved to see North Korea and modern Russia.
What I really appreciated was the praise that the under appreciated former prime Minister Manmohan Singh came in for.

[Aliff Amierul · Rating 5 out of 5]

This is a great book if you're into economic applications history. I particularly love the chapter that discuss about Lee Kuan Yew and other asian leaders. The down side of this book is I think there is not much discussion or not detailed information about non western leaders and their economic policies compared to their western counterparts.

[Ivo · Rating 3 out of 5]

This is a book for people who love history and general knowledge about the development of economic policy. The book describes how 16 influential politicians influenced different economic politics to fight economic issues in their countries. It is a little dry, written more along the lines of a history learning book, but worth reading if you are looking for that kind of information.

[Paloma · Rating 5 out of 5]

Money and Power discusses the interaction of economics and politics through the story of 16 world leaders, starting with Hamilton and up to Trump.

Great read if you want a little insight into political economy and the legacy of some of the key political figures of the last centuries.

[Robert Curtis · Rating 4 out of 5]

A good intro to some important world leaders. I thought it was a little biased and obsessed with Trump, but otherwise an interesting introduction to very important leaders such as Alexander Hamilton, Park Chung Hee and Deng Xiaoping.

[Rory Clark · Rating 5 out of 5]

An insighyt account of economic history spanning the past 300 years.

[Alex Durston · Rating 4 out of 5]

A really interesting book, well written and from a very knowledgeable point of view.

[Sean · Rating 4 out of 5]

Enjoyable for someone not deeply versed in economics. I appreciated the variety in both geographic and idealistic views too. Very nice to link economics to policy making too.

Unfortunate that there is no more profound discussion about how good or bad GDP, unemployment, inequality and environmental issues are in the medium/longer run. Also having known people who lived some of the events mentioned, unfortunate that there was little mention of the human side too, but both are understandable given the need to fit within a single book.

Would gladly recommend to anyone capable of understanding the intricacies of the system within which this book was written, as well as the economic systems described.

[El King · Rating 4 out of 5]

Surprisingly interesting and a great book for anyone studying econ with an interest in politics and the 20th century