Fortune Favors The Bold (with Autographed)

Prof. Lester C. Thurow

ISBN 10: 0060523654 / ISBN 13: 9780060523657

Published by Collins, 2003

About this Item

The new global economy is linking the fortunes of every nation on every continent -- for good or for ill. Its hallmark is a rising instability and a growing inequality between the first and third worlds, in spite of rising average incomes. The United States and other first world economies are finding it hard to recover after the boom of the 1990s and the bust of the early 21st century. Financial crises in the third world come frequently and are increasingly severe. Globalization is invoked to explain riots, civil disobedience, and as a factor in the rise of terrorism. Lester Thurow argues now is the time to shape globalization into what we want it to be -- before it's too late. Today, he explains, we are at a critical crossroads in the development of the global economy. We can sit back and let it grow as it will, or we can seize the moment and build economic systems that will minimize instability, allow second and third world countries to thrive, and protect and enhance our own American interests. In short, a win/win global economy that benefits all participants. Globalization, says Thurow, can be shaped. In Fortune Favors the Bold, Thurow provides an insightful analysis of the ills of globalization and, more important, offers solutions. He tackles subjects such as: The dangers of the burgeoning U.S. trade deficit and the falling dollar Solving the problem of intellectual property rights violations Restarting Japan's stagnating economy How best to help underdeveloped countries enter the global economy Reforming the World Bank and the International Monetary Fund Further, Thurow shows how the economic successes of Ireland and China provide a model for other countries to follow. He even proposes creating anew role for a 'Chief Knowledge Officer' to help guide companies and governments in the developing global knowledge-based economy of the 21st century. Globalization will continue whether we like it our not. We are at a critical moment; great challenges lay ahead, and our economic future is at stake. Now, with Fortune Favors the Bold, we have a map and guidebook to a prosperous economic future.

Seller Inventory # 9780060523657

Bibliographic Details

• Title: Fortune Favors The Bold (with Autographed)
• Publisher: Collins
• Publication Date: 2003
• Language: English
• ISBN 10: 0060523654
• ISBN 13: 9780060523657
• Binding: Hardcover
• Condition: New

About this title

Synopsis

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.

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.