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Economic Turbulence - Is a Volatile Economy Good for America? (Hardcover)
Loot Price: R413
Discovery Miles 4 130
You Save: R129
(24%)
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Economic Turbulence - Is a Volatile Economy Good for America? (Hardcover)
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List price R542
Loot Price R413
Discovery Miles 4 130
You Save R129 (24%)
Supplier out of stock. If you add this item to your wish list we will let you know when it becomes available.
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Every day, in every sector of our economy, a business shuts down
while another starts up, jobs are created while others are cut, and
workers are hired while others are laid off. This constant flux, or
turbulence, is a defining characteristic of our free market system,
yet it mostly inspires angst about unemployment, loss of earnings,
and the overall competitiveness of corporations. But is this
endless cycle of fluctuation really so bad for America? Might
something positive be going on in the economy as a result of it? In
this penetrating work, three esteemed economists seek to answer
these questions by exploring the real impact of volatility on
American workers and businesses alike. According to the authors,
while any number of events--shifts in consumer demand, changes in
technology, mergers and acquisitions, or increased competition--can
contribute to economic turbulence, our economy as a whole is, by
and large, stronger for it, because these processes of creation and
destruction make it more flexible and adaptable. The authors also
acknowledge and document the adverse consequences of this
turbulence on different groups of workers and firms and discuss the
resulting policy challenges. Basing their argument on an up-close
look into the dealings and practices of five key
industries--financial services, retail food services, trucking,
semiconductors, and software--the authors demonstrate the positive
effects of turbulence on career paths, employee earnings, and firm
performance. The first substantial attempt to disentangle and make
clear the complexities of this phenomenon in the United States,
Economic Turbulence will be viewed as a major achievement and the
centerpiece of any discussion on the subject for years to come.
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