By Martinus Bruce Sr.
Since the former university lecturer and Voicecontributer, Clement Wulf-Soulage published “Market Economy” in 2011, it has drawn praise from critics and colleagues alike both in Germany and here in Saint Lucia. By all accounts, this book is a lively and able, if familiar, account of market capitalism and its intrigues.
In commemoration of the island’s 36 years of independence, the publication was featured at the literary arts exhibition at the Blue Coral Mall earlier this year. More prominently in 2013, the book’s publisher, Optimus Scientific Publishing, listed it among its ten bestsellers (more details available at http://www.optimus-verlag.de/Bestseller_Dissertation_veroeffentlichen.html)
However, the biggest accolade of them all was from Prof.Dr. Joachim Ahrens, Head of International Office and Professor of International Economics at the Private University of Applied Sciences in Göttingen Germany, who recently released the following after a three-week review of the author’s work, currently listed in the German National Library: “Students and practitioners who wish to improve their economic literacy skills will greatly benefit from reading and working with this book. Market Economy provides broad insights into numerous aspects of international economics, the functioning of markets, and the role of companies and the government therein. Readers with diverse backgrounds such as economics, business studies, political and other social sciences will enjoy using this book — either during a course or self-study phases. Clement Wulf-Soulage provides interesting and modern texts, helpful exercises, and useful questions for exam practice.”
Wulf-Soulage has since expressed great pleasure and jubilation at such a review coming from a German economics professor who himself is an author and has taught political economics at several universities including the European Business School international university in Germany. Following research affiliations at Harvard University, the Hoover Institution/Stanford University, and the University of California/Berkeley, Professor Ahrens worked as an economist at the Asian Development Bank in Manila.
An official press release earlier this year described the book’s contents as follows: “Market Economy” is a business textbook dealing with the functions and dynamics of the global market economy. It is an attempt to simplify the complex terminology in the world of business and provide a linkage to the changing facets of modern business procedures. As a suitable study reference, it has been brought up-to-date and the text refined to cover developments in economic policy and institutional changes over the last few years. In essence, “Market Economy” encourages students to: Apply knowledge and understanding of the dynamics of economic activity from a range of perspectives; and develop the ability to make effective use of terminology, concepts and methods. Citing future opportunities in key global markets, Wulf-Soulage provides the context for the intersection of business, social investing, capital markets and the role of government”
With the recognition that globalisation recognises no borders in doing business – and is a vehicle for driving information technology, trade and foreign direct investments (FDI), “Market Economy” acknowledges the inevitability and indispensability of capital markets and international trade flows as well as the expanding global nature of the business world. In the book, the writer prominently features the Saint Lucian Nobel Prize winner in economics, Sir Arthur Lewis and attributes his work to the global realization that knowledge and human capital are the main determinants of economic performance, and hence the key to economic development.
“Market Economy”, as well as the author’s second book, “Management English Intelligence”, are both available locally at Book Salon, Castries and from Amazon.de.