THE END OF THE NATION STATE

THE RISE OF REGIONAL ECONOMIES

Taking issue with intellectual Francis Fukayama, who posits the end of history, business strategist Ohmae (The Borderless World, 1990) more plausibly prophesies the eventual demise of the nation-state, because it has become ``an unnatural, even dysfunctional, unit in terms of which to think about or organize economic activity.'' Writing with his customary brio and clarity, the Tokyo-based, MIT-educated consultant makes a persuasive case for the arresting proposition that sovereignty is increasingly irrelevant. Characterizing borders as a cartographic illusion, he observes that what he calls ``the four I's''—industry, investment, individuals, and information—now flow across frontiers with little hindrance. As commercial enterprises capitalize on market opportunities at the ends of the earth or closer to their home bases, however, traditional governments remain in thrall to outdated notions of national interest and to the importunate demands of parasitic constituencies seeking shelter from economic rivalry. While central governments are still major players on the world stage, Ohmae insists that they have lost the capacity to adapt to change, let alone respond effectively to its challenges. He documents the significant extent to which nation-states remain focused on parochial issues during an age when real-time information is the common coin of industry and distance has become economically immaterial. The resulting power vacuum has been filled by what the author dubs region states, geographic territories oriented toward the global economy, not their host countries. Cases in point range from Baden-WÅrtemberg, San Diego/Tijuana, and Wales through Korea's Pusan perimeter and Hollywood, which has profited greatly from the warm welcome it extended foreign capital, whether from the Japanese or Rupert Murdoch. Elegant perspectives on what the socioeconomic future might hold from a past master of the geopolitical game. The engrossing text has helpful tabular material and graphics throughout.

Pub Date: July 3, 1995

ISBN: 0-02-923341-0

Page Count: 256

Publisher: Free Press

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: May 15, 1995

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Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

THINKING, FAST AND SLOW

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 4, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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A declaration worth hearing out in a time of growing inequality—and indignity.

ECONOMIC DIGNITY

Noted number cruncher Sperling delivers an economist’s rejoinder to life, liberty, and the pursuit of happiness.

Former director of the National Economic Council in the administrations of Presidents Bill Clinton and Barack Obama, the author has long taken a view of the dismal science that takes economic justice fully into account. Alongside all the metrics and estimates and reckonings of GDP, inflation, and the supply curve, he holds the great goal of economic policy to be the advancement of human dignity, a concept intangible enough to chase the econometricians away. Growth, the sacred mantra of most economic policy, “should never be considered an appropriate ultimate end goal” for it, he counsels. Though 4% is the magic number for annual growth to be considered healthy, it is healthy only if everyone is getting the benefits and not just the ultrawealthy who are making away with the spoils today. Defining dignity, admits Sperling, can be a kind of “I know it when I see it” problem, but it does not exist where people are a paycheck away from homelessness; the fact, however, that people widely share a view of indignity suggests the “intuitive universality” of its opposite. That said, the author identifies three qualifications, one of them the “ability to meaningfully participate in the economy with respect, not domination and humiliation.” Though these latter terms are also essentially unquantifiable, Sperling holds that this respect—lack of abuse, in another phrasing—can be obtained through a tight labor market and monetary and fiscal policy that pushes for full employment. In other words, where management needs to come looking for workers, workers are likely to be better treated than when the opposite holds. In still other words, writes the author, dignity is in part a function of “ ‘take this job and shove it’ power,” which is a power worth fighting for.

A declaration worth hearing out in a time of growing inequality—and indignity.

Pub Date: May 5, 2020

ISBN: 978-1-9848-7987-5

Page Count: 384

Publisher: Penguin Press

Review Posted Online: Feb. 26, 2020

Kirkus Reviews Issue: March 15, 2020

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