Western Economic Blunders (55 Tragic Experiences with Comedy Atmosphere)

Author: Klaus Schmeh (Germany) | Translator
Publisher:
Publish Date: 2005-05-01
Features: A cautionary tale of economic life. 55 tragic experiences with a comedic atmosphere. Do you know: There are many image projects in Western market economy countries; leadership power abuse exists in private enterprises; the stock market in capital markets has seen spectacular; major corruption cases have occurred repeatedly in social welfare economies; economic criminals still roam free in highly legal societies. Do you understand: How the financial crisis in early 20th-century America led to the bankruptcy of European banks; why the country producing the magnetic levitation train did not lay mainlines itself; the post-auction price of Germany's third-generation mobile communication system licenses; the amount of financial deficit at the 2000 Hannover World Expo in Germany; the extent of real estate speculation and IT stock bubbles in the West. This book tells us: Lack of supervision and restraint can also lead to the collapse of private enterprises; poor investments often trigger financial crises and bank bankruptcies; image projects that deplete the treasury are a drain on taxpayers' money; economic crises will globalize with the integration of the world economy; how we can avoid repeating the disasters of Western economic history. In this book, readers can see the bubbles formed by Western real estate speculation and IT stocks, as well as the tragic outcomes for ordinary people after these bubbles burst; learn about the many image projects and unfinished projects in Western market economy countries, and how these projects deplete the treasury and burden taxpayers; discover that welfare state social enterprises also experience major corruption cases one after another, and that economic criminals can still exploit legal loopholes to evade justice. This book tells readers that leadership power abuse exists in Western private listed companies, and that lack of supervision and restraint in social welfare enterprises also leads to their collapse; it also tells readers that the Western capital market frequently sees,, and real estate bubbles, with the direct consequences of such poor investments being financial crises and bank bankruptcies.
There are many books about economic success. On bookstore shelves, we can find dozens of books about successful managers, business strategies that bring huge profits, and secrets to quick wealth. However, in reality, most of them are meaningless. Research has proven that at least 80% of all businesses fail in their establishment and product development processes. Billions of dollars are invested in ambitious projects, only to end up like throwing water in a bamboo basket. Although such failures often cause a huge stir in the media, the stories of the failures are often overlooked in economic texts compared to those of successful cases. This is a great pity. It is a grand event to bring the dark side of the economy into the spotlight. However, the purpose of this book is not to point fingers or engage in so-called in-depth analysis. In the following chapters, 55 of the most important failed cases in economic history will be introduced. I believe these stories alone can speak for themselves. While ensuring accuracy and reliability, the text also aims to maintain a sense of fun for readers, as it is well-known that the joy of gloating is not limited to economic issues—it is the most stimulating kind of joy.