Synopses & Reviews
Bestselling author and renowned economist Lester Thurow argues forcefully that globalization is not a done deal and we must seize the moment now if we are to create a new global economy in which all can prosper.
In this new book, Thurow examines the newly–forming global economy, with a special focus on the role of the US and the dangers to our own national well–being. He examines such questions as: What's at stake for us in the global economy? Why is it important that the system be equitable and that other countries prosper along with us? What should our goals as a nation be – long term and short term? What are the tough choices that need to be made in our relationship with other countries and world regulatory bodies? What role should we be playing globally? What are the political, economic, social choices / tradeoffs we will have to confront?
Thurow contends that the huge and growing US trade deficit poses grave dangers to the value of the dollar and is putting our own economy in jeopardy.
As the world economy leaps national boundaries, its hallmark seems to be a rising instability and a growing inequality between the first and third worlds. Financial crises in the third world come ever more frequently and seem to be ever more severe. The first world economies seem to be in ever more frantic boom and bust cycles. Globalization causes riots throughout the world and is one factor in the rise of terrorism against the West.
Thurow shows how some nations, including Ireland and China, have embraced the concept of globalization and placed themselves into a position to prosper with growing and productive national economies. He contrasts their positive actions with Japan, whose leaders have allowed the nation to drift into stagnation and have destroyed its prosperity.
He argues that this is the time to choose globalization or be left behind, the time to "build a global economy that eliminates the defects," and he provides plenty of ideas for corporations, governments, economists, and citizens to act upon.
“a book about globalization...its a pageturner. Thurow...proposes provocative changes to those who shape the global economy” Fortune
“The disputes over globalization have evolved...[this] book captures the key issues.” Harvard Business Review
As the world economy leaps national boundaries, disparities between the rich and poor have become increasingly commonplace. Financial crises in the developing world are more severe, and first-world economies continue to experience frantic boom-and-bust cycles, while imbalances in ongoing globalization continue to play a role in the rise of international terrorism.
In this insightful and forward-looking book, Thurow examines the new global economy, focusing on the role of the United States and the dangers to our own national economic well-being. He considers what's at stake for us in the global economy, why it's important that we encourage other countries to prosper, and what our long- and short-term goals as a nation should be. Thurow argues convincingly that it is time for corporations, governments, and citizens to choose globalization or be left behind.
About the Author
Lester C. Thurow is the Lemelson Professor of Management and Economics at the Massachusetts Institute of Technology, where he has taught since 1968. From 1987 through 1993 he was dean of MIT's Sloan School of Management. His previous books include the New York Times bestsellers The Zero-Sum Society and The Future of Capitalism.