Taken from inside front dust jacket flap: Here is a bold new plan, presented simply and accessibly by working-class economists John Rutledge and Deborah Allen that offers a blueprint for the reindustrialization of America. In "Rust to Riches", Rutledge and Allen refute the popular wisdom that the U.S. trade deficit is "the Darth Vader of American business". Instead, they attribute our downfall to many years of building "the wrong stuff"-corporate towers, hotels, shopping centers, and so on-rather that spending on the machinery and retooling the provide economic strength. In fact, it is the foreign investments we fear so much that now offer the capital resources for new industrial growth in America. Just as U.S. investments jump started the postwar economies of Japan and Western Europe, the authors point out, the cash surpluses of those nations are now funding an America that is desperately short of savings. And, as America's Baby Boomers enter their saving years, our decades-long low savings rate is beginning to grow, and with it our pools of capital. Combine these facts with the hard lessons American managers have learned in the face of tough competition and the good news is that we are poised to begin a second Industrial Revolution.
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The authors, both economists at the Claremont Economics Institute in California, present in clear terminology a look at macroeconomics, stressing the differences between two economies--the production economy, which looks at new goods, services, and savings and investment, and the portfolio economy, which examines previous economic activity. Using historical principles, management savvy, and the willingness to use capital money to rebuild older factories into efficient production units (just as the United States helped Western Europe and Japan get on their feet after World War II), a strong economy can be achieved. A thought-provoking look at a future economic scenario.
- Steve Mayover, Free Lib . of Philadelphia
Copyright 1989 Reed Business Information, Inc.
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Book Description Harpercollins, 1989. Hardcover. Book Condition: New. book. Bookseller Inventory # 0060158816
Book Description Harpercollins, 1989. Hardcover. Book Condition: New. 1st. Bookseller Inventory # DADAX0060158816
Book Description Harpercollins, 1989. Hardcover. Book Condition: New. Bookseller Inventory # P110060158816
Book Description Harpercollins, 1989. Hardcover. Book Condition: New. New item. Bookseller Inventory # QX-001-61-8308008