Book Description

Most Americans strongly favor equality of opportunity if not outcome, but many are weary of poverty's seeming immunity to public policy. This helps to explain the recent attention paid to cultural and genetic explanations of persistent poverty, including claims that economic inequality is a function of intellectual ability, as well as more subtle depictions of the United States as a meritocracy where barriers to achievement are personal--either voluntary or inherited--rather than systemic. This volume of original essays by luminaries in the economic, social, and biological sciences, however, confirms mounting evidence that the connection between intelligence and inequality is surprisingly weak and demonstrates that targeted educational and economic reforms can reduce the income gap and improve the country's aggregate productivity and economic well-being. It also offers a novel agenda of equal access to valuable associations.

Amartya Sen, John Roemer, Robert M. Hauser, Glenn Loury, Orley Ashenfelter, and others sift and analyze the latest arguments and quantitative findings on equality in order to explain how merit is and should be defined, how economic rewards are distributed, and how patterns of economic success persist across generations. Moving well beyond exploration, they draw specific conclusions that are bold yet empirically grounded, finding that schooling improves occupational success in ways unrelated to cognitive ability, that IQ is not a strong independent predictor of economic success, and that people's associations--their neighborhoods, working groups, and other social ties--significantly explain many of the poverty traps we observe.

The optimistic message of this beautifully edited book is that important violations of equality of opportunity do exist but can be attenuated by policies that will serve the general economy. Policy makers will read with interest concrete suggestions for crafting economically beneficial anti-discrimination measures, enhancing educational and associational opportunity, and centering economic reforms in community-based institutions. Here is an example of some of our most brilliant social thinkers using the most advanced techniques that their disciplines have to offer to tackle an issue of great social importance. ... Read more

Reviews (1)

A very technically demanding read.
It's very interesting how the experts here tore apart The Bell Curve with minimal effort by taking a look at the data in a sensible/ rigorous way. One author assumed that all the data was correct as given and challenged its relevance.

Most importantly, one of the articles used the mathematics associated with these social experiments and asked "Do these numbers really show you what you think they do?" In all of my exhaustive reading about this subject, this book is the first that I have read that specifically addresses that point.

While lots of people have dismissed the proponents of genetic inferiority as an explanation for the "failure" of blacks in the USA, the rebuttals have invariably failed to contront the reasoning of the authors, preferring to dismiss them out of hand as "racist."

One thing that was lacking in this book is a more detailed analysis of the disparity between ethnic groups of the same race-- and yes, they do exist, contrary to what you would believe from reading the newspapers. For this, one of two Thomas Sowell books is a good read. The first: "Race and Culture." The second: "Knowledge and Decisions."

Unfortunately, the use of lots of technical jargon is going to put this fine piece of literature out of the reach of the vast majority of the hoi polloi. ... Read more

Book Description

This book covers the economic history of Latin America from independence in the 1820s to the present.It stresses the differences between Latin American countries while recognizing the similar external influences to which the region has been subject.Victor Bulmer-Thomas notes the failure of the region to close the gap in living standards between it and the United States and explores the reasons. He also examines the new paradigm taking shape in Latin America since the debt crisis of the 1980s and asks whether this new economic model will be able to bring the growth and equity that the region desperately needs.First Edition Hb (1995): 0-521-36329-2First Edition Pb (1995): 0-521-36872-3 ... Read more

Reviews (2)

The Definitive Economic History of Latin America
Bulmer-Thomas develops a clear and compelling case for Latin America's failure to achieve high levels of economic growth and equality, illustrating how productivity gains and exports in natural resource sectors were never translated into gains in non-primary product sectors. Along with studies by Coatsworth and Engerman & Sokoloff, this is one of the best sources of economic history for the budding Latin American scholar. A warning, though: this is no light read. A background in economics and several cups of coffee will present an advantage.

The Economic History of Latin America Since Independence
Not a single Latin American republic has achieved the status of developed nation after nearly two hundred years from colonial rule. The vast abundance of land, labor and natural resources has not delivered the long-awaited fruits of economic growth and economic development. Victor Bulmer-Thomas provides in this book an excepcionally detailled and balanced account of the factors that affect economic progress until the initial period of implementation of market-oriented reforms. It is in summary, an incomparable source of economic history information for those in love with the Latin American region. For a complete understanding of all the materials contained in the book, certain economic background is advisable. ... Read more

Book Description

What the average person does not know about the directors of our monetary policy, the Federal Reserve, is the fact that there is absolutely nothing "Federal" about the Federal Reserve System, and neither does it have any "Reserves."

Eggelletion describes how the average American taxpayer struggles financially, because the important decisions about the economy are made not by elected officials, but by a group of businessmen out for profit. "Thieves in the Temple" is a must read for every thinking American. ... Read more

Book Description

An enclyclopedic view of doing business with China. Contains the how-to, where-to and who-with information needed to operate internationally. ... Read more

Book Description

Praise for the first edition ". . . a valuable reference for anyone interested in Japan's economy. . . provides essential background information as to how Japan's bureaucracy functions, how its trade relationships have developed, and why some policies are as firmly entrenched as they are." -- Far Eastern Economic Review

The MIT Encyclopedia of the Japanese Economy was the first English-language encyclopedia to cover all major aspects of Japan's postwar economy. The second edition has been fully revised and expanded, and includes previously unpublished data as well as coverage of recent developments in the economy. The definitional entries concisely explain major economic concepts and include translations of Japanese economic terms and cross references to the longer topical essays. The 180 topical essays cover banks, financial systems, major industries, corporate groups, management practices, labor unions, international trade and investments, government economic policies, and more. They also include comprehensive statistics, American and Japanese views on economic relations between the two countries, and suggestions for further reading. A new index contains names of major companies. ... Read more

Reviews (1)

Invaluable reference source
As an international equity portfolio manager specializing in Japanese equities, this book is a very valuable reference source. The book describes many of the key institutions and their interlocking nature. Full of cross references, addresses & phone numbers (for institutions) and mini bibliographies for most major concepts, this book is a great hub for studying the Japanese economy. I look forward to the next edition. ... Read more

Book Description

Europe's Experimental Union challenges conventional writings on European intergration by situating the analysis of the EU in the context of changing patterns of political and econimic order.The authors conclude that the union is not evolving towards a federal superstate, but rather, is an arena of deep economic intergration governed by a prismatic polity characterised by innovation, experimentation, pragmatis, decentralisation and devolution.Although it may seem unsettled, this book reveals that in fact the experimental nature of the the EU enables it to respond to multiple agendas and Europe's diversity in a flexible manner. ... Read more

Book Description

"Hoskins, McFadyen and Finn de-dismalise economics. Their book is clearly written, full of cogent and apposite examples and analyses persuasively what makes media and communications like, and unlike, other economic sectors. From network externality to public good, from experience goods to superstars, from dumping to quotas they lucidly guide the reader through the tangles of the new economy and why it now matters less if maids burn books. Eat your heart out Thomas Carlyle."

-Richard E. Collins, The Open University, U.K.

How does the Internet affect the supply of information-based entertainment and cultural goods? Why do telephone companies have peak and off-peak prices for long-distance calls? Why is broadcasting, but not newspaper publishing, usually regulated and sometimes subsidized? Media Economics: Applying Economics to New and Traditional Media provides a thorough foundation of the microeconomic principles and concepts needed to understand media industries and issues in the converging media environment.

Media Economics differs from ordinary media economic texts by taking a conceptual approach to economic issues. As the book progresses through economic principles, authors Colin Hoskins, Stuart McFadyen, and Adam Finn use cases and examples to demonstrate how these principles can be used to analyze media issues and problems. Media Economics emphasizes economic concepts that have distinct application within media industries, including corporate media strategies and mergers, public policy within media industries, how industry structure and changing technologies affect the conduct and performance of media industries, and why the United States dominates trade in information and entertainment.

Key Features

• Chapter opening vignettes introduce the issues analyzed in each chapter
• Concise definitions of key terms for a clear understanding of basic microeconomic and managerial economic concepts
• Examples from a variety of media industries including those in the United States, Canada, the United Kingdom, and Australia
• A concept-driven approach enabling a longer shelf-life as technologies, structures, and revenues change
• A recognition of the reality of convergence and consolidation in media industries rather than addressing each media outlet individually

Media Economics assumes no prior background in economics and is designed for undergraduate and graduate students studying media economics and media industries. The book is an ideal text for public policy and the media as well as media and society courses with an economic perspective taught in Media Studies, Communication, Business, Journalism, Film Studies, Political Studies, and Economics programs.

Reviews (14)

not quite accurate .. hoping for 2nd edition
I was happy to see this book come out since I only had found the
older "Places Rated Almanac" up to this point. I am looking to
relocate and so this sort of information is very useful to me.

However, I am going to return this book since I am disappointed
with the rankings and question the accuracy of the information. I
know two towns rather well, and both were mis-characterized in
the rankings.

Example 1 - Macon, GA: "Snows occurs during most winters." This
is simply not true. There was a dusting of snow 2 years ago that
lasted maybe a day and a half. Previous snow, 10 years before
then. Long time locals tell me that it's extremely rare to get
any snow here.

Example 2 - Iowa City, IA: IC received a score of 7 for Arts &
Culture, Macon a 25 - this is totally ridiculous. There are a lot
of things going on in Iowa City, Macon doesn't even come
close. To award Macon a score nearly 4 times higher than Iowa
City boggles the mind.

I know these two places well, and for me the information about
these two places puts into question the rest of the information
in the book.

I hope there will be a revised, and more accurate second edition
out.

I give it two stars since the rankings/editorial comments are
important to me. While I can't comment on the
accuracy of the statistics, the rankings/editorials were one of
the main reasons for my getting this book. Raw statistics can
be used to look up specific information, but the other material

can guide your search.

Fair and Balanced Resource for Evaluating Cities
A previous reviewer complained of a liberal slant to Cities Ranked & Rated. Faithfully playing the part of the "I haven't read it, but I'm gonna condemn this communist filth anyhow" conservative, the reviewer's complaints were based on reading a USA Today article and not the book itself. I bought a copy (of the book) and I'm just not seeing a lot of politics here. I am, however, seeing a lot of really useful information based on objective, statistical information (including the unfairly derided quality of life statistics compiled by the U.S. Census Bureau and other agencies). I looked at the authors bios and found a link to www.bestplaces.net, which includes an interactive questionaire that helps you pick your ideal city. It appears to be based on the same data sets as the book. I would recommend anyone who suspects political bias on the part of the authors to go to this site and find out where their personal preferences would actually take them. I was surprised by what it told me.

Great resource
Ignore the previous two reviews, not sure what these guys were up to or why. They went to deep dark corners to unearth "errors". Some may be true but some of their assertions, like no published cost of living data by city, are just plain wrong. I know -- I am a professional market researcher.

For 17 bucks, this book makes a handy reference for my profession and is a top resource if I ever decide to move. Authors have done a good job assembling otherwise hard-to-get information in a nice package.

Mistakes and suspect data ruin this tome
Sorry, I have to dissent from positive ratings this book has been receiving. It has many errors, missourced or old data, and more than a few flatulent statements. Let's mention a few.

Early in the book the authors place Pine Bluff in Arizona (though later they move it to its correct location in Arkansas). A table (p.60) detailing population growth since 1990 shows Phoenix gaining over 2 million people, Atlanta gaining nearly 3 million, and Orlando gaining over 1 million. These may be typos, but they are astronomically incorrect.

The book depends too much on the 2000 Census of Population. Aside from using stale four-year old figures, one might say the book strays from rating the quality of cities to rating the quality of people living in them. Just an observation.

Moving on, consider this outrageous statement (p. 112): The number of Starbucks in a city "is indicative of the overall quality of retail establishments." Say again?

Starbucks is a service establishment, not a retailer. A Starbucks indicates the presence of a 25 to 50 demographic that buys a $3.00 latte grande. It says little about the quality of retailers in the city.

Here's another statement: One of Louisville, Kentucky's black marks is "low public-school utilization," (p. 462) based entirely on how many children were in private schools in 2000.

Shall we permit the authors to withdraw that remark? First, San Francisco, New Orleans, and even Dubuque are shown in the book to have greater proportions of children in private schools -- yet these cities don't receive similar criticism. Second, so what? For families on the move, shouldn't there be alternatives to public schools if they're wanted?

Amazingly, Boulder, Colorado (with employers like the University of Colorado, Hewlett-Packard, and the National Bureau of Standards) received the worst ranking for ECONOMY & JOBS, while locations like Billings, Montana, and Elkhart, Indiana, received top rankings based on employment figures nearly a year old (August 2003).

Lastly, I can tell you, CATEGORICALLY, that the Bureau of Labor Statistics does not produce cost-of-living figures for each city, in spite of the book's claims that BLS is the source for these data. Are the figures in the book a fabrication or is this simply an incorrect source?

Perhaps a second edition is planned. Let's hope so.

Bursting with contradictions and factual errors
I hate to rip into an author's hard work, but I've spent an hour with this book and it cries out for the harshest criticism. It is so much flawed by errors that buyers deserve a refund.

The authors write, "the University of Mississippi adds college-town features" to the state capital in Jackson. Alas, the university is in Oxford, 150 miles north. They write of State College, Pennsylvania: "at 75,000, the [Penn State University] student body outnumbers the town's non-student population," unaware that 35,000 are somewhere else in the state at 20 branch campuses.

"Interestingly," they observe, "higher education facilities are present in all but 3 of the 331 metropolitan areas: San Angelo, Texas; Racine, Wisconsin; and Punta Gorda, Florida." What are Angelo State University in San Angelo and Edison Community College in Punta Gorda? Mirages?

The authors show Yuma, Arizona, resembling Albania or Lesotho because of an August 2003 unemployment rate of 34 percent. The figure reflects farm workers applying for unemployment benefits after the harvest and has little to do with the year-round economy. Apparently, the warnings from Bureau of Labor Statistics to stick with 'seasonally adjusted' unemployment statistics were lost of the authors.

What about the book's internal contradictions?

"Oil and gas are the main industries," they write of Lafayette, Louisiana (but later, 'Healthcare and Social Assistance' is listed as Lafayette's "largest employing industry"). Gainesville, Florida, "doesn't have serious problems with hurricanes," (but later, Gainesville is awarded one the country's worst "hurricane risk" scores). Hartford, Connecticut "has the greatest percentage of Hispanic residents north of Florida and east of the Mississippi," (but later, Jersey City and New York are shown to have much higher figures). Myrtle Beach, South Carolina, is a beach resort with "over 100 golf courses," (but later, Myrtle Beach's "golf-course rating" is pegged as one the country's worst). Santa Fe's "arts and culture" is its strong suit (later on, the New Mexico capital is ranked in the bottom third in the ARTS & CULTURE category).

Finally, a place's category rankings don't agree when they are summarized in the book's Appendix. For example, New Orleans's CLIMATE rank of 97 falls to 100 in the Appendix. Boulder, Colorado's ECONOMY & JOBS rank of 328 sinks to 331 in the Appendix. There are hundreds of similar discrepancies.

I have grave doubts that the information and data in this book will stand up to any more scrutiny. My copy is on its way back to amazon.com. ... Read more

Book Description

"This is precisely the book that I have been waiting for. It is completely up to date, it deals with the most important questions, and the authors explain complex economic issues in simple and helpful ways, without loss of rigour or generality." -- David Hojman, Journal of Latin American Studies

"An important book. . . . Few other single-volume surveys of the region have so skillfully brought to our attention the complex tapestry of modern Latin American political economy." -- Antonia Jorge and Paul Moncarz, Journal of Developing Areas

Latin America's Economy provides a clear, comprehensive, and accessible overview of major economic issues facing Latin America today, including balance of payments problems, inflation, stabilization, poverty, inequality, and land reform. Each chapter centers on an economic problem, presenting major economic theories about the causes and possible solutions to the problem. The authors provide numerous cross-country examples to demonstrate how individual countries are affected by economic trends or policies. Chapters also include helpful summaries and ideas on what the future may hold. ... Read more

Reviews (2)

Good history, but outdated
This book serves as a good history of Latin America's economic history until the late 1980s.Of course, given its publication in 1995, not much more could be expected.However, if you are looking for a good understanding of Latin America's main eocnomies, it is not sufficient, since the changes that most countries have faced in the 1990s and early 2000s are dramatic.For example, there is very little in this book dealing with privatization (the wave that hit the region in the early 1990s), or even the control of inflation and the (limited) opening of markets to international trade.

Given all that has happened since its publication, it is good history, but does not reflect the current reality.

Latin America's Economy
This book is probably one of the most widely used for classes on Latin American Economic Development. It is well-structured and combines a revision of the main historic events that had impacted the economic development of Latin America with alternative theoretical explanations.It gives special priority to topics such as inflation, debt crisis and poverty and inequality that are crucial for the understanding of the Latin American economic evolution.Moreover, the text does not forget about the role played by the interaction between politics and economics.In this sense, the chapter on populism is remarkable.However, many of the statistical tables are outdated and in my modest opinion, a future revision of the book should include a chapter on the neoliberal reforms and their consequences. ... Read more

Book Description

In the blink of an eye, vast economic forces have created new types of communities and reinvented old ones.In The New Geography, acclaimed forecaster Joel Kotkin decodes the changes, and provides the first clear road map for where Americans will live and work in the decades to come, and why.He examines the new role of cities in America and takes us into the new American neighborhood.The New Geography is a brilliant and indispensable guidebook to a fundamentally new landscape. ... Read more

Reviews (8)

Could sprawl be dying?
A thoughtful analysis of technology's impact on society with some ideas that are worth acting upon.

While the premise of this book is not new, Kotkin's thoughtful analysis of how technology has and is changing our geography puts this book securely in the "must read" category.

Kotkin's premise is that technology is changing America's landscape as much or more than did the Industrial Revolution. While, in some respects, technology has de-personalized our society (and there are many tangible examples; the malling and sprawling of America with "category killer" retail and soulless master planned communities), it has also emerged as a great unifier causing people to seek more connection, not less. Moreover, technology has enabled more choices, particularly on where one chooses to live and work. Consequently, the notion of "place" is more important than in the past and consumers of place are more demanding and sophisticated.

What all this means is that we are seeing a very positive evolution back to "Renaissance" type cites (populated by artisans, small business and niche players enabled with technology) where place and commerce are wed. Conversely, we are also experiencing the segregation of the "haves" of technology and subsequent wealth from the "have-nots". Further segregation, Kotkin argues, will erode the very positives that are emerging.

Kotkin takes pains to organize his argument and does so by citing both historical markers (i.e.-Fall of Rome, the Dark Ages and The Enlightenment/Renaissance) with geographical categories that describe our emerging urban landscape (ie-Valhallas, Nerdistans, Urban Cores and Midopolis).

My one complaint is that Kotkin didn't give enough airtime to the issues around how the segregation of the classes will potentially erode the more positive impacts of technology. This subject emerges only toward the end of the book with poignant comparisons to the Fall of Rome.

While some of the rosy "Internet Era" optimism (copyright 2000) is evident here, the gist of the message remains completely valid. This is an excellent book. This "New Geography" is worth thinking about and acting upon. Kotkin's last two lines are illustrative; "As people and advanced industries hunt the globe for locations, they will not necessarily seek out those places that are the biggest, the cheapest, or the most well favored by location. Instead they will seek out a new kind of geography, one that appeals to their sense of values and their hearts, and it is there that the successful communities of the digital age will be found." Do you live in one of these communities or not? Bravo!

Good book but heavy with PC stuff
Interesting and good book but he keeps telling us how wonderful immigrants are and how they revitalize cities. He mentions orientals and the businesses they start over and over but never about the Mexicans that are so much more common, with large families paying relatively little in taxes but putting a tremendous burden on local governments which in turn tax more and drive taxpayers to less "diverse" jurisdictions. Just look at California, the state with the largest portion of its population foreign born. Its a financial basket case. And New York can show you two smoking holes in the ground where mighty towers once stood. I wonder what Kotkin thinks about these immigrants' contribution to the new geography?

Fine book, but a little euphemistic
This is an even-handed, non-cheerleading account of how people are moving to different locations in America based on their "skill level" (by which I think Joel primarily means IQ): e.g., Nerds are moving to Nerdistans like Silicon Valley and Research Triangle, while Rich Nerds are moving to Valhallas like Aspen. Lots of good insights, although his celebrations of how immigrants are reviving cities kept me wondering how who caused them to die out. Reading Joel is kind of like talking to some wealthy liberal who has just bought a house in an all-white suburb but can't quite ever mention the name of the people who he's trying to get away from.

The new economy + new urbanism = new geography
You've heard it said that location is everything. City planning, urban geography, explanations of agricultural patterns, and the theory of industrial location all owe their existence to German geographers who were the pioneers of location theory; men such as von Thunen, Weber and Christaller. Edward Ullman introduced the concept of central-place theory to the US before WWII. The idea then has a long history of explaining the way things are.

All that will come to an end if it's up to Joel Kotkin. He sees the new economy with its emphasis on communication and technology as permanently seperating us from our dependance on place. This isn't revolutionary, or even a new idea. The belief that technology is more important than any physical space or location has long been the mantra of the netheads of the new economy. What else are we doing but proving the reality of this when we submit and read reviews at Amazon, and participate in a community that only exists in cyberspace?

Where THE NEW GEOGRAPHY truly breaks new ground is in the argument that the information economy has two "faces". These involve different processes and business that are beneficial to the "self-contained high-end suburds" or "nerdistans" but also, and very importantly, other elements have "taken on a decidedly more urban cast." It's a fairly good book that will be enjoyable to those with interests in geography, urbanism, and technology; it's therefore broad enough but unfortunately not deep enough to really satisfy all.

Should have been a magazine article
When "New Geography" hit the stands, it made it for few weeks on the LA Times bestseller list, and Joel Kotkin made the rounds on the local public radio stations. He is well spoken, and his interviews where engaging, but his book doesn't hold muster. Don't get me wrong - he has an interesting thesis, but it could have been well articulated in the length of an Atlantic Monthly sized magazine article. Instead, he gives the reader filler, and rehashes what other contemporary authors have been saying about demographic trends, urban lifestyles, decaying midwestern cities, and internet workers. He also wrote this book at the crest of the internet bubble, and like most new computer technologies, it has became outdated a year's time since the bust.

Also, one final thought...

This book was written with the assumption that programers, netheads, and digital artists exist in sufficient numbers to change which cities in America live and die. It's as if this country were populated by David Brooks and his "laptop at Starbucks so they can sip their lattes hot 'Bobo's.'" Has Kotkin ever been to Palmdale??

Skim this book, but don't forget to pick out the thesis. It says that cities, towns, and suburbs that make themselves livable by yuppie standards will flourish in this new internet driven economy whose companies and workers can live and work where they want because new technology allows them to be geographically unconstrained by "old" economy resources like shipping ports, raw materials, etc. ... Read more

Amazon.com

The chief problem societies have faced "since the time of the Babylonians," writes Dinesh D'Souza, has been the problem of scarcity. "But now that age has passed, and America has a new problem: coping with prosperity." It's a good problem to have, but also a serious, even debilitating, one. "The moral conundrum of success," the author continues, means that all too often, "the body is flourishing, but somehow the soul still feels malnourished." D'Souza is well known for his bestselling conservative books Illiberal Education, The End of Racism, and Ronald Reagan. On these pages, however, he seems to set politics aside to ask deep questions about the meaning of life in a world of material abundance:

What is my life for? As affluence spreads ... hundreds of millions of people will be asking just this question. That they can ask it is in and of itself a great moral achievement, because it opens up to innumerable ordinary people the avenues of human fulfillment that were previously open only to aristocrats. Yet at the same time it is a strangely disquieting question, because there is no complete answer to it within the modern techno-capitalist framework.

Reviews (23)

Simply incredible
I am absolutely amazed at the breadth of D'Souza's knowledge. This is my first Dinesh book and it certainly won't be the last.

After reading that he was a policy analyst for Ronald Reagan and was a member of both the American Enterprise Institute and the Hoover Institution, I expected the book to make a much firmer stance on the issues. I am pleasantly surprised at the respect that D'Souza gives to all arguments. He really considers every viewpoint before moving on.

The topic at hand I would summarize down to "the ethics and morality of capitalism and technological progress." What I found was a very intellectual (for a grass-roots type of book) work that bounced between technophile and technophobe viewpoints, liberal and conservative viewpoints, and touched upon a huge diversity of subjects such as philosophy, sociology, psychology, politics, and biology, among others. By the way, I minored in Philosophy, and D'Souza seems to have a firmer grasp of philosophical concepts than I ever had! D'Souza has a deft touch that makes his book at once highly readable, intellectually stimulating, and thought provoking.

Second Thoughts About the New Economy
Dinesh D'Souza has written a very significant book in which he endeavors to find the deep, true meaning behind the euphoria, the hype, the madness that is the new economy. After a sober and methodical reassesment of the profound changes left behind in the wake of our recent prosperity, D'Souza ultimately comes down on the side of the optimists, the Party of Yeah he calls them, who embrace transformational technologies even as critics (whom he dubs the Party of Nah) charge that they threaten to uproot the old bonds of community, replacing spiritual values with purely materialist passions.

D'Souza is scrupulously balanced in forthrightly presenting both sides of the argument. The arguments themselves aren't new; the rigor with which D'Souza analyzes them quite possibly is. Does technological capitalism ultimately degrade the soul? We have all heard the liberal economic critique of the gap between the rich and poor. How does the emerging conservative critique of the social consequences of inequality stack up in comparison? D'Souza discusses these questions briskly and adroitly. Often while reading the book, I would find myself thinking of possible counter-arguments to the views presented on any given page and invariably found them echoed a turn or two of the page later.

More than most defenders of the marketplace, D'Souza does take very seriously the notion that the new prosperity may hinder our search for spiritual meaning. The case for either sides of this often demagogued controversy is clouded by the fact that one's economic good fortunes don't seem to guarantee either frustration or inner fulfillment. For every white collar criminal, there is a young man who is moved to depravity by hunger or poverty. For every example of a person with modest means contented with the simple life, there seems to be an equal abundance of millionaires who find fulfillment and happiness in their enterprise and in the educational advancement that prosperity makes possible. Perhaps this means that techno-capitalism really has less spiritual consequence (for good or ill) than we think and at best it offers unique people an outlet for their interests, much like art, science and politics. These are the kinds of questions you will find explored in this refreshing work.

D'Souza concludes his work with a life-affirming statement of the dignity of human nature as a rebuttal and a caution against those who would take technology too far in the quest for pursuits such as cloning, genetic engineering or even merging the human race with computers. Part of the beauty of techno-capitalism is that it allows for the satisfaction of human wants and desires in a decentralized environment that replicates natural processes. Naturally self-regulating, self-perpetuating price mechanisms that nobody fully understands (much less controls) have much less to do with the marketplace than command-and-control decisionmaking. Effectively, capitalism is the triumph of human nature over centralization and control. Technology is the product of pure human nature and its perpetual quest for improvement. Does the new emphasis on biotechnology, the rhetoric of "overcoming" human nature with vastly advanced, highly evolved computers, and the impetus to control nature through genetic manipulation violate the principles that have brought us such success and the Party of Yeah such satisfaction? At the very least, it is something both optimists and pessimists must think through before taking the next bold leap into the future.

A Great Read
Dinesh did it again with this piece of literary genius! Well maybe it isn't genius, but it is informative and entertaining.

In "The Virture of Prosperity" D'Souza makes an argument for capitalism based around the compassion that affluence had brought to this country. This book should counter every anti-globalization textbook in the classroom in order to provide a fair and balanced view of our supper-affluent society.

Relatively short, easy to read, and full of stats and figures to amaze your friends with, this book would make a great paper-back to pick up asap!

The only shortcoming would be that it was written before 9/11 so some of the flowery imagery of our future seem a tad bittersweet.

Capitalism Vindicated
Business people rank among the biggest victims of unfair criticism. Blamed for greed, exploitation and selfishness, business people generally fail to defend themselves or assert their positive status. Instead, they continue holding the country together through productive activity that generates tax revenues and high standards of living.

Thanks to a book by Dinesh D'Souza, they have a well-articulated defense of their status that extends beyond moneymaking. As D'Souza points out in The Virtue of Prosperity-Finding Values in an Age of Techno-Affluence (The Free Press, 2000, $26), business is about more than earning dollars. It is about realizing dreams through sacrifice, work, vision and an ability to satisfy society's needs. The pursuit of business not only is an economic endeavor but a noble endeavor, D'Souza believes.

An enthusiastic free market advocate who immigrated from India and was graduated from Dartmouth College, D'Souza focuses his attention on the boom of the high tech industry, which turned many ordinary people into millionaires almost overnight. The growth of capitalism, he notes, has led to unprecedented general prosperity.

An annual survey of freshmen conducted by the Higher Education Research Institute at UCLA and reported by Alex P. Kellogg in the Jan. 26 Chronicle of Higher Education reveals that nearly three quarters of first-year college students say they want to be very well off. Only 28.1 percent report an interest in keeping current with political affairs.

D'Souza acknowledges that capitalism unleashes vast social and economic changes that alienate people and create an intensive need for spiritual fulfillment. He realizes that for many people, capitalism will not solve a search for meaning.

Also, social hierarchies are an inevitable outcome of the scramble for success in capitalist societies. However, these inequalities are not arbitrary accidents of birth. "The rich are today the hardest working people in society, and they refuse to...work less or stop working, even if they can easily afford to."

The ability to turn an area of enthusiastic interest and energetic resolve into prosperity for oneself and others drives the successful business person and also explains the hostility to the capitalist by those who look behind a haze of envy for not receiving the same rewards.

Despite economic gaps between rich and poor, one does not find instability or conflict as in other cultures because "technological capitalism is a powerful catalyst of enduring equality among citizens," he says. Indeed, higher standards of living make life better for all, with those at the bottom in America society considered privileged by the poverty-stricken in non-capitalist Third World countries. This result, D'Souza believes, elevates capitalism to a moral good so long as it retains the goal not of "I win, you lose," but "I win and therefore you win, too."

Sort of dry in a few places
I like most of Dinesh D'Souza's books, but this book was a bit dry. I guess maybe the subject matter didn't really lend itself to a full book. It just couldn't hold my attention. While some parts were somewhat interesting--such as, the discussion of the super-rich, and who owns what in America. Overall I would pass on this book. I can recommend his other books, though. ... Read more

Book Description

An economic history of Britain since 1700, in three volumes by thirty-nine eminent historians and economists, this book will succeed the first edition of "Floud and McCloskey" (published in 1981) as the leading textbook on its subject. The text has a firm economic basis, but emphasizes the historical context and chronology and is written in straightforward and jargon-free English. Volume 1 covers the period 1700-1860, that of Britain's rise to relative economic supremacy. Volume 2 discusses the period 1860-1939, that of the height of British economic power and of painful readjustment after 1914.Volume 3 considers the period since 1939, that of relative economic decline and of increasing involvement with the European Community. ... Read more

Book Description

An economic history of Britain since 1700, in three volumes by thirty-nine eminent historians and economists, this book will succeed the first edition of "Floud and McCloskey" (published in 1981) as the leading textbook on its subject. The text has a firm economic basis, but emphasizes the historical context and chronology and is written in straightforward and jargon-free English. Volume 1 covers the period 1700-1860, that of Britain's rise to relative economic supremacy. Volume 2 discusses the period 1860-1939, that of the height of British economic power and of painful readjustment after 1914. Volume 3 considers the period since 1939, that of relative economic decline and of increasing involvement with the European Community. ... Read more

Book Description

A dazzling blend of business vision, history, social psychology, and economics, The Support Economy starts with a compelling premise: People have changed more than the corporations upon which their well-being depends. In the chasm that now separates the new individuals from the old organizations is the opportunity to forge a capitalism suited to our times and so unleash a vast new potential for wealth creation.

In recent years, many books have offered fixes for this crisis, but they have dealt only with its symptoms. The Support Economy is the first book to critically examine its cause: Managerial capitalism has outlived the society it was once designed to serve. It successfully achieved the efficient production of goods and services, but today's individuals want more. They want to take their lives into their own hands and are ready to pay for the support and advocacy necessary to fulfill that yearning. The next leap forward in wealth creation depends upon developing a new capitalism that speaks to the needs of people today.The Support Economy will be the next "must read" big think book. It speaks to every business and technology leader, as well as every reader interested in the future of the economy and society. ... Read more

Reviews (23)

The Support Economy by Shoshana Zuboff
The overall thrust of the book admits to the success of the
managerial economy in maximizing efficiency. The human dimension
has lagged behind the maximization formulas. Many corporations
can no longer guarantee a life time employment scenario.
Therefore; it is important to develop a strong entrepreneurial
class/capability to take up the slack. The authors discuss
"distributed capitalism" to empower individuals to exploit the
new technologies . The authors discuss an important concept
which involves merging infrastructure activities to exploit
strengths in the bureaucratic systems and distribute these
advantages across a wide spectrum of users. The book makes
a point in explaining that half of what people buy today
was not available a century ago. The authors envision a solution
in home employment to empower the babyboomers well into the
future. This is an important work. It could be developed
further in some of the aforementioned areas. For instance,
there is a wide array of government assistance available to
small business owners and aspirants. This aspect could have
been developed more fully. Matthew Lesko has a number of
government self-help books on the subject of government
grants, giveaways and low cost loans for small business.

A New Framework for Business
This is a book of two parts. The first is a detailed examination of why managerial capitalism has reached the end of its useful life. Zuboff and Maxmin say that because the system is out of date it cannot serve the needs of todays consumers. They also say that its inward focus results in scandals like Enron because managers think the comany is there to serve their needs, Managers are at the center of the system and value is inside the company. All of this was ok for making things but failed to deliver good service because it was not designed to do this. It used technology to reduce cost and depressed the impact of the internet. The net result is that we as consumers have changed, management has not and we suffer. WE seek help and only get a bloody nose.. The second part of the book follows the logic of the demise the managemet system Here value goes outside the company and rests with individuals ( it is distributed) To achieve alignment everything else ( control systems, ownership etc ) becomes distribed and wealth is realised by allowing people to live life on their own terms- by providing them with ' deep support" Here the techological and organisational vision is revolutionary. You need to forget all you have learned and think about capitalism from the ground up. The authors envision using digital platforms to provide common data and service. They suggest this will take 30% plus out of todays cost. These platforms will be base for new services and levels of support ranging from the fully automated to the personal. Here are advocates who navigate the world on your behalf. This is a whole new function ... they provide the ultimate range of support . They represent federations whose sole purpose is to provide different levels of support leveraging off the digital platforms. Federations obtain products and servcie from enterprises which come together and break apart .The whole concept is unique and extremely challenging. The idea is to create debate not to be perscriptive. The story of the family used to illustrate the metaprinciples of distributed capitalism is great. It makes you understand how different things can be and need to be. Zuboof and Maxmin have convinced me not only that change is necessary and inevitable but there is a new future to write. Some people may dismiss their ideas as too radical but look at their track records- they know what they are talking about. The world needs more creative and visionary thinkers like this-people who are not affraid to embrace the future and challenge the status quo-- we should all applaud them

An Outstanding Diagnosis
I strongly recommend The Support Economy.

I'll start with the negatives -- it took me about 100 pages to really get into it; like most business books the authors repeat themselves; the future state they outline is sketchy; and they don't even really attempt to describe how we get from here to there.

The reason I'm recommending it is that Zuboff and Maxmin absolutely nail the diagnosis of what's wrong with the interaction between producers and consumers today -- the way that individuals (at home and at work) are the shock absorbers between what enterprises know how to do and what people today need; the reason that managerial capitalism has to give way to, well, something new that they call "distributed capitalism;" the need to move beyond the relentless optimization of transactions and towards the maximization of value in the context of people's lives. And, thinking about my own situation and those of many of my peers, it just rings true. My personal trainer (who is also an event planner) is a kind of poster child for this new capitalism.

While "support" is in the title, this isn't a book about technical support -- it's about a new value proposition of people helping people, not just better-products-cheaper. That being said, it is strongly influencing my thinking about technical support in general and my consulting company's value proposition in particular.

Stellar!!
This book has changed the way I think about the world and business. I never thought about the fact that when markets change the way we do business must change. The book calls us ' history's shock absorbers" as we live with the pain and opportunity that arises when one business model is dying and another is being born. The book is packed with insights, facts and theory that open the mind to a new way of doing business. It is ground breaking stuff. We never think about capitalism in our everyday business lives but maybe we should have done . We are part of history and we can make more money and build better corporations if we really understood this. I would recommend this book to everyone. It is a great read and a map to a new future.

A Pedantic Mess of a Good Idea
These authors are on the right track but they are more interested in impressing readers with their vocabulary than following through with some do-able solutions. I firmly believe that corporations need to catch up to what the customer really wants but this book meanders through a maze of technical and non-related issues which distract from the great theme it is about. I trudged through the whole book waiting for an answer to the problem I could understand but there was absolutely no common sense I could grasp that would lead me to a satisfactory conclusion. Felt like I was back in school again. Ugh! ... Read more

Book Description

Russia's historic transition from communism in the 1990s sparked intense, often ideological debates. This book offers a firsthand glimpse into the intellectual challenges that Russia's turbulent transition generated. It deals with many of the most important reforms, from Gorbachev's half-hearted "perestroika," to the mass privatization program, to the efforts to build legal and regulatory institutions of a market economy. The essays in this book attempt to identify the driving forces of Russia's rapidly changing economic and social reality.

To understand Yeltsin's reforms, the book argues, it is essential to grasp their twin goals of destroying the remnants of the communist order and building the institutions of a market economy. Time after time, reforms were shaped to assure that communism, with its overwhelming control of the economy and society, the planning ministries, and pervasive centralization, cannot come back to Russia. Many of the successes, as well as the pathologies, of the Russian economy during the 1990s must be understood from this perspective. Despite many setbacks, Yeltsin succeeded in his life's mission. By the end of the twentieth century, both a market economy and a democracy were developed in Russia. Each was both vulnerable and flawed, but the escape from communism was certain. A decade after communism, Russia became a normal country.

Book Description

From Tijuana to Tierra del Fuego, Latin America is remarkably misunderstood, often viewed merely as a source of cheap labor, where corrupt politicians and drug lords run rampant. As a result, many--especially smaller--U.S. businesses are missing out on lucrative opportunities to expand their operations into this dynamic region, home to over 500 million consumers. Drawing from over 30 years of first-hand experience and research, Dr. Thomas Becker helps readers overcome these stereotypes and presents a concise and authoritative approach to conducting business in Mexico, Central America and the Caribbean, and South America. ... Read more

Book Description

Although abundantly endowed with oil, diamonds, and other naturalresources, the African nation of Angola has suffered decades of militaryconflict, economic decline, and human misery. Tony HodgesÍs incisive case studyshows that it is AngolaÍs very wealth that has brought the country to itscurrent wretched condition. ... Read more

Reviews (1)

Tony Hodges comes clean
Tony Hodges has finally seen the light regarding Angola. A known MPLA sympathiser, his book shows that there is no right or wrong in Angola. Both the MPLA and UNITA are fighting a 30 year civil war for power. Angola's natural resources provide the monetary resources to continue the war.

Hodges does an excellent job in describing Angola's vast natural resources, the allocation of those resources, and the fraud and corruption associated with the resources. His charts and tables are of particular value to an Angolan scholar.

He also details how UNITA thrives by continuing to hold some diamond mining areas and how they export the stones for funds to oil their military machine.

However, Hodges best contribution is his explanation of how the MPLA government spends billions on defense while the Angolan people starve. Much of the money spent lines the pockets of MPLA generals, and politicians.

My question would be if the MPLA regime is so corrupt would a UNITA victory be more disastrous? ... Read more