We are living in complex economic times on a global scale. Many argue that the balance of power is shifting from the west to countries in the east like China, India and Russia. The timely release of the writings of Albert O. Hirschman, a professor, economist and social scientist who was influential during the post-World War II European reconstruction, sheds interesting light on how countries navigated a dramatic shift in the global economy. Particularly, the rise of the U.S. as a global superpower that provided substantial financial support to European countries trying to rebuild.

The Postwar Economic Order: National Reconstruction and International Cooperation is a compilation of essays Hirschman wrote while working as an economist at the Federal Reserve Board who focused on the reconstruction of Europe and the Marshall Plan. This book is somewhat of a struggle for those who do not have a background in economics or fiscal and monetary policy. However, even a lay person can identify similar economic themes regarding inflation, recession, and the importance of trade that are relevant today. Hirschman’s essays require an investment in time, but it is well worth the effort.

This review is based on receipt of an advanced review copy.