Dear ellipsis,
A tip for the future: whenever you want to know more about a book, try
to search for reviews about it. This is of course not half as good as
reading the book, but great for desperate situations.
"The Future of Economics" is a controversial book. It discusses modern
global society's problems, and to the dismay of much of the
economists, it is highly critical of the free market economical model.
A legthy review by Jim Blair of the University of Wisconsin, Madison
could be found in his site
http://thomasash.hypermart.net/politicsandsociety/blair-futureofcapitalism.html
For copyright reasons, I don't just copy the review.
Basically, what this review says, is that the book is cautiously
critical of Capitalism, espite its 'victory'. Thurow compares
economics to geology, when he writes, that there are underground,
unseen, economic and social pressures, that migth end up in an
"eruption". Moreover, culture is a significant element in Thurow's
thought, as determining the acceptance of capitalism. He points out to
the new trends in capitalism, the globalisation.
Another, less informed (but with pages referrences) review, could be
found here http://makeashorterlink.com/?Z51E217A2
The major of the criticism on the book is that it is "politically
biased" and that Thurow's economic methodology is problematic. You can
read a serious critic at http://makeashorterlink.com/?D23E427A2
It should be added, that Thurow is not anti-capitalist:
"According to Thurow, we are living in a period of great economic
change, when various factors are playing off each ohter and radically
altering the world. But these changes also make for an exciting time,
ripe with enormous opportunities for those equipped to take advantage
of the storms ahead. In The Future of Capitalism, he examines the
major forces causing economic disequilibrium and charts a course for
profiting from today's world in flux.
Like the shifting plates of the earth's surface, world changes
influence the economic game with nearly imperceptible movements that
have enormous effects in the long term. In geology, entire continents
are created and lost through the plates' activity. Keeping with
Thurow's provocative analogy, the magnitude of the following changes -
the "economic plates" - cannot be ignored:
The conversion of the Communist world to capitalism : With this one
third of humanity added to the capitalist world, major realignments
are required.
The rise of man-made brainpower industries : New advances in
technology allow industry to be located anywhere, shifting the
emphasis away from physical capital.
Changing demographics : Social programs must adapt to the growing
numbers of elderly people without income, and of others, young and
old, migrating from poor to rich countries.
A truly global economy : Anything can be made anywhere, and sold
anywhere else, which can put national governments at odds with global
business.
Lack of a dominant political or military world leader : Now who will
write the rules for the world trading system?
A new capitalism must emerge, one in which the ownership of skills
("man-made brainpower") instead of physical capital is the key
strategic asset. Economic success will depend on our willingness to
make social investments in infrastructure, skills, education, and
knowledge. Using specific examples from America, Japan, and Europe,
The Future of Capitalism challenges and alters the way we view the
economic backbone of today's world, and examines how changes will
affect the future. "
(Source: MIT Press Books, "The Future of Capitalism"
http://mitpress.mit.edu/bookstore/authors/future.html).
Amazon.com offer 26 sample pages of the book, and some further reviews
at : http://www.amazon.com/exec/obidos/ASIN/0140263284/ltc-political/104-3548802-4231963
I hope that helped. Please contact me if you need any clarifications
on the answer before you rate it.
Good luck in the finals. |
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