By Dambisa Moyo
In How the West used to be Lost, the New York Times bestselling writer Dambisa Moyo deals a daring account of the decline of the West's financial supremacy. She examines how the West's wrong monetary judgements have ended in an fiscal and geopolitical seesaw that's now poised to tip in want of the rising international, specially China.
Amid the hype of China's upward push, notwithstanding, crucial tale of our iteration is being dismissed: the US isn't just in financial decline, yet on the right track to develop into the most important welfare kingdom within the heritage of the West. the true probability is a thome, Moyo claims. whereas a few international locations – resembling Germany and Sweden – have intentionally engineered and financed welfare states, the USA hazards turning itself right into a bloated welfare kingdom no longer due to ideology or a bigger imaginative and prescient of financial justice, yet out of financial desperation and short-sighted policymaking. How the West used to be Lost unearths not just the industrial myopia of the West but additionally the novel recommendations that it must undertake so as to assert itself as a world monetary energy as soon as again.
Read or Download How the West Was Lost: Fifty Years of Economic Folly - And the Stark Choices Ahead PDF
Similar economic policy books
Unholy Trinity: Labor, Capital and Land in the New Economy (Graz Schumpeter Lectures)
Some of the imperative result of Classical and Marxian political financial system are examples of the self-organization of the capitalist economic climate as a fancy, adaptive process faraway from equilibrium.
An Unholy Trinity explores the relatives among modern complicated structures concept and classical political economic system, and applies the equipment it develops to the issues of brought about technical switch and source of revenue distribution in capitalist economies, the regulate of environmental externalities resembling international warming and the stabilization of the realm population.
The arguments and strategies of this significant e-book tackle vital difficulties either one of fiscal technology and monetary coverage and supply clean paths for theoretical exploration
The aim of this e-book is to reassess financial liberalism from the perspective of political liberalism. the writer argues that advocates of monetary liberalism mostly forget empirical political personal tastes which, in lots of societies, move a ways past a constrained position of the kingdom. fresh problems of reforming the welfare country offer proof that political personal tastes are at odds with liberal monetary coverage in different circumstances.
“Born worldwide” (BG) companies have attracted many researchers during the final decade. The emergence of this phenomenon at the start posed a major problem to the validity and applicability of the normal “stage” concept of internationalization; in spite of the fact that, students have extra lately been in a position to reconcile conventional and new theories right into a unmarried framework for learning the method of internationalization.
Perfecting Parliament: Constitutional Reform, Liberalism, and the Rise of Western Democracy
This booklet explains why modern liberal democracies are according to old templates instead of innovative reforms; why the transition in Europe happened in the course of a comparatively brief interval within the 19th century; why politically and economically strong women and men voluntarily supported such reforms; how pursuits, rules, and preexisting associations affected the reforms followed; and why the international locations that liberalized their political platforms additionally produced the economic Revolution.
- Industrial Policy in an Era of Globalization: Lessons from Asia (Policy Analyses in International Economics)
- From Financial Crisis to Global Recovery
- The Pursuit of Justice: Law and Economics of Legal Institutions
- Corrupt Illinois: Patronage, Cronyism, and Criminality
- The Pursuit of Justice: Law and Economics of Legal Institutions
Additional info for How the West Was Lost: Fifty Years of Economic Folly - And the Stark Choices Ahead
Sample text
That is to say, the manner in which the capital is allocated, the aptitude of the workforce and the nature of the technology. From the early days of the growth debate, capital has always been regarded as the prime mover in defining a country’s failure or success. So it seems right and proper that the book should first turn its attention to this all-important subject. 2 A Capital Story ‘Capital is money, capital is commodities. By virtue of it being value, it has acquired the occult ability to add value to itself.
Naturally, the net effect has been to encourage polarization, rather than foment credible alliances. Were it not for a profit motive, the real risk is that come the day when the emerging nations don’t have to trade with the West, they won’t. Second is what Thomas Friedman describes as the ‘flatness of the world’ – the lowering of transport, communication and manufacturing costs, which has made the transfer of technology easier. Indeed, the technological and economic advantages of the West have made this possible, and as a natural consequence encouraged the worldwide adoption of best-practice technology and governance standards.
Should it really matter if some other country is richer and more militarily powerful? Who cares whether a country has economic supremacy, as long as your country is prosperous and can manage its own internal affairs? For example, the societies of Denmark, Sweden and Norway, each economically advanced, seem to have no qualms about who rules the world as long as they are left alone to be prosperous and peaceful, though their attitude might well change were whoever held the purse strings to start to curb their freedoms and encroach upon their way of life.