In late December 1994--after having attracted widespread praise as a model of economic reform and becoming a super-magnet for international investors, as well as the United States partner in the newly consummated NAFTA trade agreement--Mexico seemingly overnight plunged into political and economic crisis. The perceived threat to the global economy was to lead the Clinton administration, against strong congressional criticism, to push through an unprecedented $40-billion international rescue package. What went wrong in Mexico? What role was played by flaws in the design of the Mexican reforms,...

This work recounts the recent evolution of the Venezuelan economy and details the consequences of new policies designed to tackle the nation's deepest economic crisis. It also explains the failed military coup in February 1992 that threatened Venezuela and analyzes why it occurred.

Mark Zuckerberg's inaugural pick for his "Year of Books" challenge, The End of Power updates the very notion of power for the 21st century. Power, we know, is shifting: From West to East and North to South, from presidential palaces to public squares, from once formidable corporate behemoths to nimble startups and, slowly but surely, from men to women. But power is not merely dispersing; it is also decaying. Those in power today are more constrained in what they can do with it and more at risk of losing it than ever before.

In The End of Power, award-winning columnist and...