The World's Banker: A Story of Failed States, Financial Crises, and the Wealth and Poverty of Nations (Council on Foreign Relations Books (Penguin Press))

I have read some books about Africa lately and I was interested in knowing the work made by the World Bank in this continent. Althought the book is focused in James Wolfensohn Presidency, this was a revealing reading that shows all the difficulties the Bank must face in order to provide the best aid to the target country and to keep the bank shareholders satisfied. Adding to that, the book describes the problems in the management of the Bank, its organization and inertia, the always problematics NGOs, and more importantly, the way to help countries in their "economic development", which is by far a very difficult thing to do. There is no recipe for that, you can establish a framework but there are other factors to consider in a case by case basis -- certainly reading Wolfensohn experience ultimately provide that, experience and knowledge. This is a well researched book, readable in its whole extension.

A lot of us get into the development business starry-eyed and hoping to change the world in a positive way, small as it may be. Unfortunately many of us are unprepared for the stark political reality which dominates the development business and really discourages us bleeding heart liberals. And guess what, it's not always about the poor. Mallaby writes very well, and you really start to empathize with the tempermental and difficult Wolfenson. Although one of the more dedicated World Bank presidents (he changed his nationality hoping to increase his chances) with a committment to development, he constantly had to battle his way through a number of vested political interests (including his own) and still got nowhere close to meeting the Bank's mission of a "world free of poverty." Mallaby shows that the development business is not for the faint-hearted: whether you're working for an NGO, bilateral or multilateral agency. Wolfensohn not only took a beating, but so did his staff who had to put up with his temper. In sum, this should be required reading for those contemplating a career in development.

Halfway thru the book, I must say it's an easy reading. It gives a quick overview, or more precisely, gossip, about what's going on in World Bank and Wolfensohn. It's more like an article in FORTUNE, rather than ECONOMIST.The story was told from the author's perspective and it's somehow biased. One should read Joseph Stiglizt's The globalization of discontents, and this book to balance the biases of two pole for IMF and World Bank.It's funny the author commented that Wolfensohn is a man of "vision" but lack in strategy (in World Bank). I found a parallel in this book. He presented certain topics and gave his opinions on, such as Stiglitz lambasted too much on Washington Concensus or his other advocates, but he failed to support his opinions with convincing reasons. When talked about financial crisis in Asia 97, author seemed deliver half the story or being too naive. Cronyism is not the main cause of the crash in Indonesia. Putting too much credit on Wolfensoh's vision of seeing the corruption as a problem is a bit ridiculous. While attacking Stiglitz's advocate for capital control, the author failed to mention Malaysia has achieved success with capital control.In short, this book only tells half the story, and it's recommended only you find the other book that will the other side of the story.Or you can read this book like a novel, there are some thought-provoking moments, but it's not a book with a lot of substance.

A great book. Working at the World Bank I just simply loved the descriptions of how a new president is chosen, some anecdotes about things that go on amongst senior management and the interesting biographical details of Wolfensohn. The last chapter or two are slightly less engaging the rest, but overall it is superbly written and of relevance even in 2009.

A great read for anyone interested in learning about international development or the World Bank. Mallaby writes with a smooth polish, bringing alive the players and the decisions they faced.

Truly intelligent, scientific, informative and down-to-the-ground. One can get a good sense of the reality of poverty reduction from this book. Best I have read for years.

The title of my review is not just my reference to that terrible Steven Spielberg (a Jew) film, but to chapter 13 of this book. It's pretty apt. Writen in 2005, just before the financial crisis of 2007-2011 (which hasn't ended), the sub-title of the book "A Story of Failed States, Financial Crises and the Wealth and Poverty of Nations" is just a relevant now as it was then. In fact, things have got worse.One setence in the book (in chapter 12: A Plague Upon Development) misses the whole point: "What the [World] Bank needed at that time was table-thumping leadership."Wrong! What the World Bank needed (as well as IMF etc.) was to be disbanded completely. We don't need a "World Bank" or any othe kind of central bank. That is problem!