Many popular press reports tell us about the resilience of our economy. But my deeper readings give me pause. Today on National Public Radio, I heard to yet another dire warning from Clyde Prestowitz (audio) explaining that the American economy is on life support, due to massive debt, job losses to the rest of the world, and more.
Prestowitz joins a growing list of economists from varying philosophical persuasions who believe that a great transformation/powershift is in the works. The USA is viewed as vulnerable by most, but their scenarios vary both in the short and long term. Most that I find are skeptical at best as to our prospects going forward, thinking that stagflation may be one of the least negative scenarios we face.
One of the biggest unknowns seems to be that we are the only great power to enter into this type historical shift with a mountain of public and private debt as our main geopolitical weapon. What we have are big nukes, ever-bigger public and private debt, and fat and happy consumers of last resort for the world’s goods. Welcome to America. Welcome to the world of uncertainty, risk, novelty and surprise.
Prestowitz was no doubt pitching his new book, which we can add to longer lists of books on powershifts and transformation in the world. Here’s my list (alphabetical by author) with indicators as to which books I’ve not yet read, but probably should:
See also Prestowitz's 5/31 Globalization Game, Boston Globe.
A Few Good Books on Globalization:
Jihad vs. McWorld: How Globalism and Tribalism are Reshaping the World. 1996. Benjamin R. Barber
For the Common Good: Redirecting the Economy Toward Community, The Environment, and a Sustainable Future. 1989. Herman E. Daly and John B. Cobb.
The New Realities: In Government and Politics, in Economics and Business, in Society and World View. 1989. Peter Drucker.
The World Is Flat: A Brief History of the Twenty-First Century. 2002. Thomas L. Friedman (Not read yet)
The Lexus and the Olive Tree: Understanding Globalization. 1999. Thomas L. Friedman.
One World, Ready or Not: The Manic Logic of Global Capitalism. 1997. William Greider.
System Effects: Complexity in Political and Social Life. 1997. Robert Jervis.
Out of Control: The New Biology of Machines, Social Systems, and the Economic World. 1994. Kevin Kelly.
Beyond the Limits: Confronting Global Collapse and Envisioning a Sustainable Future. 1991. Donella Meadows, Dennis Meadows, Jorgen Randers.
Wealth and Democracy: A Political History of the American Rich. 2002. Kevin Phillips.
The Great Transformation. 1944. Karl Polanyi. (dabbled at, but never thoroughly read)
Three Billion New Capitalists: Great Shifts in Wealth and Power to the East. 2004. Clyde Prestowitz. (not read yet)
The Art of the Long View: Planning for the future in an uncertain world. 1991. Peter Schwartz.
The Fourth Turning: An American Prophecy. 1996. William Strauss and Neil Howe.
Powershift: Knowledge, Wealth, and Violence at the Edge of the 21st Century. 1990. Alvin Toffler.
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