WORLD CLASS

THRIVING LOCALLY IN THE GLOBAL ECONOMY

An academic's generic advisories on what, with awesome self- assurance but no particularly fresh insights, she asserts it will take commercial enterprises and their host communities to prosper in the Global Village's increasingly interdependent economy. Noting that advances in communications, distribution, and transportation have effectively shrunk the world of business, Kanter (When Giants Learn to Dance, 1989, etc.) offers lucid if unsurprising commentary on the ways in which the global economy's imperatives now affect US industry at all levels. Withal, her digressive, anecdotal text represents as much an effort to encourage corporate and municipal America to embrace geopolitical change as an attempt to construe events in what she dubs ``the global shopping mall.'' In aid of this agenda, the author extols the potential rewards of cross-border alliances that afford access to distant markets while warning of the workplace and related risks incurred by cosmopolitan concerns that lose touch with their roots. With time out to deprecate economic nationalism, Kanter goes on to cite a number of multinationals great and small as exemplars of global competitiveness. Cases in point range from Colgate- Palmolive, Gillette, and Hewlett-Packard through Tech Ridge (a sometime machine shop that has made the most of its status as a Polaroid supplier). The author also sets great store by location, in particular urban areas that embody her touchstone ``three C'sthe key global assets of concepts, competence, and connections.'' As paradigmatic territory, she singles out Boston (a hub of knowledge-based industries), Greenville and Spartanburg, S.C. (hometowns of uncommonly skilled production workers), and Miami (a commercial/cultural crossroads). At the close, Kanter provides a series of recommendations that could give cities and resident corporations a so-called collaborative advantage in capitalizing on the global marketplace's many opportunities. Coherent if run-of-the-mill counsel from a don who could learn a thing or two from the sophisticated perspectives in Kenichi Ohmae's The End of the Nation State (p. 691). (First serial to Harvard Business Review; author tour)

Pub Date: Sept. 1, 1995

ISBN: 0-684-81129-4

Page Count: 384

Publisher: Simon & Schuster

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: July 1, 1995

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Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

GOOD ECONOMICS FOR HARD TIMES

“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.

It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

Pub Date: Nov. 12, 2019

ISBN: 978-1-61039-950-0

Page Count: 432

Publisher: PublicAffairs

Review Posted Online: Aug. 29, 2019

Kirkus Reviews Issue: Sept. 15, 2019

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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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