Globalization brings far more benefits to the U.S. economy than it
takes away. In a timely response to Friedman's The World is Flat
and other books that fuel anxiety over globalization, William
Gamble shows that both Europe and emerging economic powers like
China and India have serious long-terms problems linked to their
cultures, political structures, occasional instability, and state
ownership of companies. These and other factors will eventually put
a brake on the economic growth and manufacturing output of the Old
World and hot emerging economies. As Gamble proves, American
institutions, while imperfect, are stable, flexible, and
dynamic--good news for U.S. workers and the economy overall. This
book has the power to reframe the debate over immigration,
protectionism, and trade imbalances. A steady stream of books,
articles, and reports are ringing the death knell for American
economic supremacy. The argument goes something like this: In a
rapidly integrating global economy, technology and know-how travel
at the speed of light, and nations with low-cost labor forces are
replacing high-cost American workers in every industry. The next
century will belong to China, India, a resurgent Russia, and other
emerging regions. Hogwash, says Bill Gamble! Drawing from his
research and many years in the trenches advising individual and
institutional investors on legal, financial, political, and
corporate issues, Gamble demonstrates that the forces of
globalization are nothing new. Most important, as long as American
institutions limit the power of interfering politicians and
bureaucrats and protect free markets, the American economic system
will guarantee resilience, competitiveness, andprosperity. The
fundamental protections of property and free speech, a culture that
promotes and rewards entrepreneurship, banking policies that make
capital easily available, relative transparency in corporate
accounting, universal access to education, and other elements,
despite their flaws, are still more supportive of economic growth
and wealth creation than can be found anywhere else. Through
in-depth examples drawn from around the world and insights honed
advising a diverse clientele, Gamble dispels common myths and
misconceptions about American competitiveness and its future
prospects. He also identifies potential threats to the U.S. system
from within and assesses the ways in the U.S. ultimately stands
benefit from the forces of globalization. In addition, this book:
*Provides an international perspective by comparing U.S.
institutions, structures, and practices to those in such hot spots
as China, India, Russia, Eastern Europe, and Southeast Asia.
*Addresses issues like outsourcing, entrepreneurship, immigration,
and low-cost labor head on. *Offers insights based on a combination
of rigorous research and practical expertise. *Presents complex
ideas in an engaging and accessible style. Designed to stir up
debate, this book is sure to open minds and help readers better
understand and appreciate the institutions that have made the
United States an economic powerhouse for two centuries.
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