Fortune Favors the Bold: What We Must Do to Build a New and Lasting Global Prosperity

3.59 avg rating
( 27 ratings by Goodreads )
 
9780060523657: Fortune Favors the Bold: What We Must Do to Build a New and Lasting Global Prosperity

Bestselling author and renowned economist Lester Thurow argues forcefully that globalization is not a done deal and we must seize the moment now if we are to create a new global economy in which all can prosper.

In this new book, Thurow examines the newly–forming global economy, with a special focus on the role of the US and the dangers to our own national well–being. He examines such questions as: What's at stake for us in the global economy? Why is it important that the system be equitable and that other countries prosper along with us? What should our goals as a nation be – long term and short term? What are the tough choices that need to be made in our relationship with other countries and world regulatory bodies? What role should we be playing globally? What are the political, economic, social choices / tradeoffs we will have to confront?

Thurow contends that the huge and growing US trade deficit poses grave dangers to the value of the dollar and is putting our own economy in jeopardy.

As the world economy leaps national boundaries, its hallmark seems to be a rising instability and a growing inequality between the first and third worlds. Financial crises in the third world come ever more frequently and seem to be ever more severe. The first world economies seem to be in ever more frantic boom and bust cycles. Globalization causes riots throughout the world and is one factor in the rise of terrorism against the West.

Thurow shows how some nations, including Ireland and China, have embraced the concept of globalization and placed themselves into a position to prosper with growing and productive national economies. He contrasts their positive actions with Japan, whose leaders have allowed the nation to drift into stagnation and have destroyed its prosperity.

He argues that this is the time to choose globalization or be left behind, the time to "build a global economy that eliminates the defects," and he provides plenty of ideas for corporations, governments, economists, and citizens to act upon.

"synopsis" may belong to another edition of this title.

Review:

With Fortune Favors the Bold: What We Must Do to Build a New and Lasting Global Prosperity, Lester Thurow follows on his bestsellers The Zero-Sum Society and The Future of Capitalism by addressing the path to globalization. Thurow--a Professor of Management and Economics at MIT's Sloan School--draws uncompromising conclusions: only a bold embrace of globalization will bring prosperity, and nations that fail to engage in global economics will fall behind the world's dominant powers.

He sees three simultaneous revolutions that fuel the rush to global business: the birth of knowledge-based industry, the creation of a global economy built on a worldwide information infrastructure, and the victory of capitalism. But Thurow is not naively optimistic about the prospects for prosperity in this new framework. The U.S. trade deficit, the Chinese export economy, the SARS epidemic, and the stagnating Japanese economy all offer real threats to short-term and long-term well-being.

Some readers will be frustrated that Fortune Favors the Bold does not deliver a detailed set of solutions to these impediments to global prosperity, despite Thurow's thorough research. The U.S. trade deficit, like the absence of international intellectual property rights, he labels a "dilemma": a problem that has no prescriptive answer. Crises will occur, he suggests. The challenge is to prepare for them and manage them well. Thurow urges the creation of new institutions to confront these dilemmas head on, notably the creation of a Chief Knowledge Officer (CKO) for governments and major corporations. The CKO will provide a central intelligence to steer nations and corporations through the difficulties of economic revolution. For Thurow, fortune will favor those leaders who boldly shape globalization and invest in emerging technologies. Those who stand by will be doomed to marginalization. --Patrick O'Kelley

About the Author:

Lester C. Thurow is the Lemelson Professor of Management and Economics at the Massachusetts Institute of Technology, where he has taught since 1968. From 1987 through 1993 he was dean of MIT's Sloan School of Management. His previous books include the New York Times bestsellers The Zero-Sum Society and The Future of Capitalism.

"About this title" may belong to another edition of this title.

Top Search Results from the AbeBooks Marketplace

1.

Thurow, Lester C.
Published by HarperBusiness (2003)
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Hardcover Quantity Available: 2
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description HarperBusiness, 2003. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110060523654

More Information About This Seller | Ask Bookseller a Question

Buy New
20.68
Convert Currency

Add to Basket

Shipping: 1.51
Within U.S.A.
Destination, Rates & Speeds

2.

Lester C. Thurow
Published by HarperBusiness (2003)
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Hardcover Quantity Available: 1
Seller:
Ergodebooks
(RICHMOND, TX, U.S.A.)
Rating
[?]

Book Description HarperBusiness, 2003. Hardcover. Book Condition: New. 1. Bookseller Inventory # DADAX0060523654

More Information About This Seller | Ask Bookseller a Question

Buy New
20.97
Convert Currency

Add to Basket

Shipping: 3.03
Within U.S.A.
Destination, Rates & Speeds

3.

Lester C. Thurow
Published by HarperCollins (2004)
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Hardcover First Edition Quantity Available: 1
Seller:
Rating
[?]

Book Description HarperCollins, 2004. Book Condition: New. Bookseller Inventory # UA9780060523657

More Information About This Seller | Ask Bookseller a Question

Buy New
24.96
Convert Currency

Add to Basket

Shipping: 2.69
From Germany to U.S.A.
Destination, Rates & Speeds

4.

Lester Thurow
Published by Harper Collins Publishers USA Feb 2004 (2004)
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Quantity Available: 1
Seller:
Rating
[?]

Book Description Harper Collins Publishers USA Feb 2004, 2004. Buch. Book Condition: Neu. Neuware - Englisch. Bookseller Inventory # 9780060523657

More Information About This Seller | Ask Bookseller a Question

Buy New
24.96
Convert Currency

Add to Basket

Shipping: 10.81
From Germany to U.S.A.
Destination, Rates & Speeds

5.

Lester Thurow
Published by Harper Collins Publishers USA Feb 2004 (2004)
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Quantity Available: 2
Seller:
Agrios-Buch
(Bergisch Gladbach, Germany)
Rating
[?]

Book Description Harper Collins Publishers USA Feb 2004, 2004. Buch. Book Condition: Neu. Neuware - Englisch. Bookseller Inventory # 9780060523657

More Information About This Seller | Ask Bookseller a Question

Buy New
24.96
Convert Currency

Add to Basket

Shipping: 15.43
From Germany to U.S.A.
Destination, Rates & Speeds

6.

Lester Thurow
Published by Harper Collins Publishers USA Feb 2004 (2004)
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Quantity Available: 2
Seller:
Rheinberg-Buch
(Bergisch Gladbach, Germany)
Rating
[?]

Book Description Harper Collins Publishers USA Feb 2004, 2004. Buch. Book Condition: Neu. Neuware - Englisch. Bookseller Inventory # 9780060523657

More Information About This Seller | Ask Bookseller a Question

Buy New
24.96
Convert Currency

Add to Basket

Shipping: 15.44
From Germany to U.S.A.
Destination, Rates & Speeds

7.

Thurow, Lester C.
Published by HarperBusiness
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Hardcover Quantity Available: 1
Seller:
Cloud 9 Books
(Wellington, FL, U.S.A.)
Rating
[?]

Book Description HarperBusiness. Hardcover. Book Condition: New. 0060523654 New Condition. Bookseller Inventory # NEW7.0009876

More Information About This Seller | Ask Bookseller a Question

Buy New
46.99
Convert Currency

Add to Basket

Shipping: 3.79
Within U.S.A.
Destination, Rates & Speeds

8.

Lester C. Thurow
Published by Harpercollins UK
ISBN 10: 0060523654 ISBN 13: 9780060523657
New Quantity Available: 1
Seller:
AHA-BUCH GmbH
(Einbeck, Germany)
Rating
[?]

Book Description Harpercollins UK. Buch. Book Condition: Neu. Neuware - Bestselling author and renowned economist Lester Thurow argues forcefully that globalization is not a done deal and we must seize the moment now if we are to create a new global economy in which all can prosper. 352 pp. Englisch. Bookseller Inventory # 9780060523657

More Information About This Seller | Ask Bookseller a Question

Buy New
24.96
Convert Currency

Add to Basket

Shipping: 26.60
From Germany to U.S.A.
Destination, Rates & Speeds