Openness For Prosperity

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Openness for Prosperity

Author : Herbert Giersch
Publisher : MIT Press
ISBN 13 : 9780262071482
Total Pages : 372 pages
Book Rating : 4.0/5 (714 download)

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Book Synopsis Openness for Prosperity by : Herbert Giersch

Download or read book Openness for Prosperity written by Herbert Giersch and published by MIT Press. This book was released on 1993 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrates the essential connection between theoretical academic research and the creation of economic policy, reflecting his belief that the study of economics should lead to improvement of the social order and of the quality of human life. Herbert Giersch is one of Germany's most prominent economists and an outstanding contributor to the debate on European economic policy. Openness for Prosperity brings together his major essays in macroeconomic policy, written or published over the past two and a half decades. In these twenty nontechnical essays, Giersch clearly demonstrates the essential connection between theoretical academic research and the creation of economic policy, reflecting his belief that the study of economics should lead to improvement of the social order and of the quality of human life. Some of the policy positions that Giersch favors are free trade, limits to government, and openness of economies to future possibilities.The chapters are arranged in two parts with the first focusing on economic growth and structural change and the second on issues of monetary policy, inflation, and exchange rates. The essays are arranged chronologically according to the dates of publication or writing to suggest how topics and emphases have changed over time.The first part, reflecting Giersch's support of Schumpeter's views, includes essays on aspects of growth, protectionism in foreign trade, the role of entrepreneurship in the 1980s, prospects and problems for European economic integration in the 1990s, the lessons to be learned from West Germany's transition to a market economy, and the author's vision of the European and world economies at the end of this century. In the second part, essays address such issues as flexible exchange rates, indexation, IMF surveillance over exchange rates, neglected aspects of inflation, the effect of central bank independence on monetary policy, and the relationship between real exchange rates and comparative economic growth.

Free Trade and Prosperity

Author : Arvind Panagariya
Publisher : Oxford University Press
ISBN 13 : 0190914505
Total Pages : 352 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Free Trade and Prosperity by : Arvind Panagariya

Download or read book Free Trade and Prosperity written by Arvind Panagariya and published by Oxford University Press. This book was released on 2019-04-01 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arguments for protection and against free trade have seen a revival in developed countries such as the United States and Great Britain as well as developing countries such as India.Â Given the clear benefits trade openness has brought everywhere, this is a surprising development.Â The benefits of free trade are especially great for emerging market economies. FreeÂTrade and ProsperityÂoffers the first full-scale defense of pro-free-trade policies with developing countries at its center. Arvind Panagariya, a professor at Columbia University and former top economic advisor to the government of India, supplies a historically informed analysis of many longstanding but flawed arguments for protection. He starts with an insightful overview of the positive case for free trade, and then closely examines the various contentions of protectionists. One protectionist argument is that "infant" industries need time to grow and become competitive, and thus should be sheltered. Other arguments are that emerging markets are especially prone to coordination failures, they are in need of diversification of their production structures, and they suffer from market imperfections. The panoply of protectionist arguments, including those for import substitution industrialization, fails when subject to close logical and empirical scrutiny. Free trade and outward-oriented policies are preconditions to both sustained rapid growth and poverty alleviation in developing countries. Panagariya provides compelling evidence demonstrating the failures of protectionism and the promise of free trade using detailed case studies of successful countries such as Singapore, Taiwan, South Korea, China and India. Low or declining barriers to free trade and high or rising shares of trade in total income have been key elements in the sustained rapid growth and poverty alleviation in these countries and many others. Free trade is like oxygen: the benefits are ubiquitous and not noticed until they are no longer there. This important book is an essential reminder of the costs of protectionism.

Openness and prosperity

Author : Herbert Giersch
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (75 download)

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Book Synopsis Openness and prosperity by : Herbert Giersch

Download or read book Openness and prosperity written by Herbert Giersch and published by . This book was released on 1988 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Open Your Mind to Prosperity

Author : Catherine Ponder
Publisher : Devorss Publications
ISBN 13 : 9780875165318
Total Pages : 196 pages
Book Rating : 4.1/5 (653 download)

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Book Synopsis Open Your Mind to Prosperity by : Catherine Ponder

Download or read book Open Your Mind to Prosperity written by Catherine Ponder and published by Devorss Publications. This book was released on 1983-12 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many success courses and books available to-day, and they are all good. Anything that helps you to open your mind to prosperity is worthwhile. But most of those courses and books cover only about one-fourth of the formula given in OPEN YOUR MIND

Outrageous Openness

Author : Tosha Silver
Publisher : Simon and Schuster
ISBN 13 : 1476793484
Total Pages : 224 pages
Book Rating : 4.4/5 (767 download)

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Book Synopsis Outrageous Openness by : Tosha Silver

Download or read book Outrageous Openness written by Tosha Silver and published by Simon and Schuster. This book was released on 2016-07-12 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Whether we know it or not, we all experience the touch of the Divine in our lives every single day. After twenty-five years spent consulting and advising tens of thousands of people from all over the world, Tosha Silver realized that almost all of us have similar concerns: “How do I stop worrying? How can I feel safe? Why do I feel so alone?” and often, “Who am I really?” For the passionately spiritual and the bemusedly skeptical alike, she created Outrageous Openness. This delightful book, filled with wisdom and fresh perspectives, helps create a relaxed, trusting openness in the reader to discover answers to life’s big questions as they spontaneously arise."--Amazon.com.

The Atlas of Economic Complexity

Author : Ricardo Hausmann
Publisher : MIT Press
ISBN 13 : 0262317737
Total Pages : 369 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis The Atlas of Economic Complexity by : Ricardo Hausmann

Download or read book The Atlas of Economic Complexity written by Ricardo Hausmann and published by MIT Press. This book was released on 2014-01-17 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

The Economics of Belonging

Author : Martin Sandbu
Publisher : Princeton University Press
ISBN 13 : 0691204527
Total Pages : 296 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis The Economics of Belonging by : Martin Sandbu

Download or read book The Economics of Belonging written by Martin Sandbu and published by Princeton University Press. This book was released on 2020-06-16 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a proposal for a short book (of around 50,000 words) that speaks directly to the state we are in. The populist insurgency on both sides of the Atlantic and in Europe has deep roots in decades of mismanagement of economic and cultural change and as a result there are large groups of people who feel they no longer belong to the societies they live in, the disinfranchised, the left behind. The appeal of the anti-liberal populists who have emerged is that they convince those who feel left behind that national leaders are no longer working in their interests hence the rhetoric of 'putting America first' and 'making America great again' or the Brexiteers claining that they are 'taking back control.' In undemocractic regimes elsewhere populists play on people's feelings of insecurity in an unpredictable and fast changing world, promising security and order in exchange for democratic freedom. Liberal openness has been put on the defensive so it is up to us, electorates, politicians and policy makers, to show how an open and liberal economic system can once again belong to everyone. In the second part of the book Martin Sandbu outlines four key areas of economic policy that he believes will address not just the symptoms but the underlying causes of the current inequality which has led to so many people, especially the young and the most vulnerable being left behind. These include productivity, regional development, improved access to business finance for SMEs, and increaed representation for workers. He makes a number of other recommendaitons regarding housing, education for all, universal basic income and taxation. He concludes by saying that while these proposals add up to a radical package in total they are necessary reforms to ensure a sense of belonging and without them we could be opening the door to a radicalism which is both illiberal and undemocratic"--

Why Nations Fail

Author : Daron Acemoglu
Publisher : Currency
ISBN 13 : 0307719227
Total Pages : 546 pages
Book Rating : 4.3/5 (77 download)

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Book Synopsis Why Nations Fail by : Daron Acemoglu

Download or read book Why Nations Fail written by Daron Acemoglu and published by Currency. This book was released on 2013-09-17 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.

An Open World

Author : Rebecca Lissner
Publisher : Yale University Press
ISBN 13 : 0300256140
Total Pages : 213 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis An Open World by : Rebecca Lissner

Download or read book An Open World written by Rebecca Lissner and published by Yale University Press. This book was released on 2020-09-15 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two foreign policy experts chart a new American grand strategy to meet the greatest geopolitical challenges of the coming decade This ambitious and incisive book presents a new vision for American foreign policy and international order at a time of historic upheaval. The United States’ global leadership crisis is not a passing shock created by the Trump presidency or COVID-19, but the product of forces that will endure for decades. Amidst political polarization, technological transformation, and major global power shifts, Lissner and Rapp-Hooper convincingly argue, only a grand strategy of openness can protect American security and prosperity despite diminished national strength. Disciplined and forward-looking, an openness strategy would counter authoritarian competitors by preventing the emergence of closed spheres of influence, maintaining access to the global commons, supporting democracies without promoting regime change, and preserving economic interdependence. The authors provide a roadmap for the next president, who must rebuild strength at home while preparing for novel forms of international competition. Lucid, trenchant, and practical, An Open World is an essential guide to the future of geopolitics.

The Prosperity Equation

Author : James A. James A Ziegler
Publisher : Advantage Media Group
ISBN 13 : 1599320177
Total Pages : 178 pages
Book Rating : 4.5/5 (993 download)

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Book Synopsis The Prosperity Equation by : James A. James A Ziegler

Download or read book The Prosperity Equation written by James A. James A Ziegler and published by Advantage Media Group. This book was released on 2006-06 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by accomplished professional speaker and business consultant, James A. Ziegler, CSP, HSG, The Prosperity Equation shares the journey that took one man from desolation to success. It's about how to achieve great personal wealth and security. This down to Earth book is written in a personable conversational style as if Ziegler was right in the room speaking with you. The author interweaves personal stories with 'the pillars of prosperity'. the conceptual strategy that made him successful and wealthy. Not for the faint hearted, Ziegler's style in often brash, forthright and in your face - the author who says, "success leads to excess," actually lives the dream himself with expensive jewelry, luxury cars, fine restaurants, travel, and an extravagant home. The man is high-energy and perpetual motion: his enthusiasm is contagious. He will be the first to tell you that prosperity is about much more than money. It is about quality of life and security. His definition of prosperity is a total package that includes having abundance to share your good fortune with others as well as having the ability to car for your family and those you care about. Wealth provides choices. The bottom line in Ziegler's world is that very few wealthy people are 'employees'. Of you want to freedom and the ability to control your destiny, you have got to start and grown your own business. The Prosperity Equation: New Millennium Edition is about how to achieve those goals and enjoy the lifestyle you have only dreamed about.

World 3.0

Author : Pankaj Ghemawat
Publisher : Harvard Business Review Press
ISBN 13 : 1422142752
Total Pages : 400 pages
Book Rating : 4.4/5 (221 download)

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Book Synopsis World 3.0 by : Pankaj Ghemawat

Download or read book World 3.0 written by Pankaj Ghemawat and published by Harvard Business Review Press. This book was released on 2011-04-26 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the financial crisis of 2008, many of us have had to reexamine our beliefs about markets and globalization. How integrated should economies really be? How much regulation is right? Many people fuse these two dimensions of choice into one, either favoring both globalization and deregulation—or opposing both of them. It doesn’t have to be that way. In World 3.0, award-winning author and economist Pankaj Ghemawat reveals the folly in both of these responses. He calls for a third worldview—one in which both regulation and cross-border integration coexist and complement one another. Ghemawat starts by exposing common assumptions about globalization to hard data, proving that the world is not nearly as globalized as we think. And he explains why the potential gains from further integration are much larger than even pro globalizers tend to believe. He then tackles market failures and fears—job losses, environmental degradation, macroeconomic volatility, and trade and capital imbalances—that opponents of globalization often invoke. Drawing on compelling data, he shows that increased globalization can actually alleviate some of these problems. Finally, Ghemawat describes how a wide range of players—businesses, policy makers, citizens, media—can help open up flows of ideas, people, and goods across borders, but in ways that maximize the benefits and minimize the potential side effects. World 3.0 dispels powerfully entrenched—but incorrect—assumptions about globalization. Provocative and bold, this new book explains how people around the world can secure their collective prosperity through new approaches to cross-border integration. Ghemawat’s thinking will surprise and move you—no matter where you stand on globalization.

International Strategy for Cyberspace: Prosperity, Security, and Openness in a Networked world

Author :
Publisher : DIANE Publishing
ISBN 13 : 143798617X
Total Pages : 30 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis International Strategy for Cyberspace: Prosperity, Security, and Openness in a Networked world by :

Download or read book International Strategy for Cyberspace: Prosperity, Security, and Openness in a Networked world written by and published by DIANE Publishing. This book was released on with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pursuing Open and Integrated Development for Shared Prosperity

Author : Li Keqiang
Publisher : Iseas - Yusof Ishak Institute
ISBN 13 : 9789814843256
Total Pages : 0 pages
Book Rating : 4.8/5 (432 download)

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Book Synopsis Pursuing Open and Integrated Development for Shared Prosperity by : Li Keqiang

Download or read book Pursuing Open and Integrated Development for Shared Prosperity written by Li Keqiang and published by Iseas - Yusof Ishak Institute. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Singapore Lecture series was inaugurated in 1980 by the ISEAS - Yusof Ishak Institute (formerly Institute of Southeast Asian Studies) with a founding endowment from the Monetary Authority of Singapore (MAS), and augmented by a generous donation in 1983 from ExxonMobil Asia Pacific. The Singapore Lecture is one of the intellectual highlights of Singapore. It provides an opportunity for distinguished statesmen and leaders to reach a wider audience in Singapore. The presence of such eminent personalities will allow members of the civil service, business community, diplomatic corps, academic community, media, and other interested parties, the opportunity to hear from leading world figures speak on topics of international and regional interest. The 44th Singapore Lecture was delivered by His Excellency Li Keqiang, Premier of the State Council of the People's Republic of China, on 13 November 2018 under the distinguished Chairmanship of Mr Teo Chee Hean, Deputy Prime Minister and Coordinating Minister for National Security, Singapore.

Openness for Prosperity

Author : Herbert Giersch
Publisher :
ISBN 13 :
Total Pages : 368 pages
Book Rating : 4.:/5 (43 download)

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Book Synopsis Openness for Prosperity by : Herbert Giersch

Download or read book Openness for Prosperity written by Herbert Giersch and published by . This book was released on 1993 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrates the essential connection between theoretical academic research and the creation of economic policy, reflecting his belief that the study of economics should lead to improvement of the social order and of the quality of human life. Herbert Giersch is one of Germany's most prominent economists and an outstanding contributor to the debate on European economic policy. Openness for Prosperity brings together his major essays in macroeconomic policy, written or published over the past two and a half decades. In these twenty nontechnical essays, Giersch clearly demonstrates the essential connection between theoretical academic research and the creation of economic policy, reflecting his belief that the study of economics should lead to improvement of the social order and of the quality of human life. Some of the policy positions that Giersch favors are free trade, limits to government, and openness of economies to future possibilities.The chapters are arranged in two parts with the first focusing on economic growth and structural change and the second on issues of monetary policy, inflation, and exchange rates. The essays are arranged chronologically according to the dates of publication or writing to suggest how topics and emphases have changed over time.The first part, reflecting Giersch's support of Schumpeter's views, includes essays on aspects of growth, protectionism in foreign trade, the role of entrepreneurship in the 1980s, prospects and problems for European economic integration in the 1990s, the lessons to be learned from West Germany's transition to a market economy, and the author's vision of the European and world economies at the end of this century. In the second part, essays address such issues as flexible exchange rates, indexation, IMF surveillance over exchange rates, neglected aspects of inflation, the effect of central bank independence on monetary policy, and the relationship between real exchange rates and comparative economic growth.

The Psychology of Wealth: Understand Your Relationship with Money and Achieve Prosperity

Author : Charles Richards
Publisher : McGraw Hill Professional
ISBN 13 : 0071789308
Total Pages : 256 pages
Book Rating : 4.0/5 (717 download)

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Book Synopsis The Psychology of Wealth: Understand Your Relationship with Money and Achieve Prosperity by : Charles Richards

Download or read book The Psychology of Wealth: Understand Your Relationship with Money and Achieve Prosperity written by Charles Richards and published by McGraw Hill Professional. This book was released on 2012-01-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times and Wall Street Journal bestseller! “The Psychology of Wealth is a pertinent and comprehensive overview of the skills and mindset necessary for success. Prosperity can be achieved by anyone, and Dr. Richards shows the way.” —Donald J. Trump “What’s in your head determines what’s in your wallet. Dr. Richards gives you the mental hard-drive upgrade you need to finally achieve the greater prosperity and success you desire.” —Darren Hardy, Publisher, SUCCESS magazine “Dr. Richards shakes up our preconceptions about wealth by examining the psychological aspects of how we relate to money. When you understand the real sources of wealth in your life, you’ll find it much easier to achieve a more prosperous and happy life.” —Jordan E. Goodman, America’s Money Answers Man at MoneyAnswers.com and Author of Master Your Money Type “This might be one of the most important books you’ll ever read. If you feel like your life has been stuck in neutral—or even worse, put in reverse—Dr. Richards will set you on a clear path to success.” —Barnet Bain, Producer, What Dreams May Come About the Book: Why do some people feel a perpetual state of lack and fear about money, while others feel genuinely prosperous, regardless of the size of their bank accounts? Why do some people shudder with dread when it comes to setting financial goals, while others embrace it with enthusiasm and confidence? What makes the difference? Could it be in their relationship with money itself? People who enjoy a healthy relationship with money share common habits and traits. So, how do they think, and what do they do differently? Are these behaviors hardwired in an individual’s psyche, or can they be learned? In this provocative book, psychotherapist Dr. Charles Richards provides unexpected and encouraging answers to these questions. Based on his research and expert interviews, Dr. Richards shows how each of us can develop a thriving relationship with money and create a rich and rewarding life. A t the book’s heart are the stories of people who have faced adversity with courage and created extraordinary lives. Their accounts—along with Dr. Richards’ interviews with finance professors, legislators, entrepreneurs, and mavens of success—pave a path to a brighter future for us all. Today we live in a trying economic environment. Every day, popular financial advisors exhort us to hunker down, play it safe, and protect ourselves from an uncertain future. To the voices who promote fear and doubt, Dr. Richards answers with balance, wisdom, and optimism. The Psychology of Wealth is for anyone interested in succeeding personally or professionally, and in achieving true prosperity. It offers golden steps on the path to a better life.

Twilight of the Elites

Author : Christophe Guilluy
Publisher : Yale University Press
ISBN 13 : 0300240821
Total Pages : 195 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Twilight of the Elites by : Christophe Guilluy

Download or read book Twilight of the Elites written by Christophe Guilluy and published by Yale University Press. This book was released on 2019-01-08 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: A passionate account of how the gulf between France’s metropolitan elites and its working classes are tearing the country apart Christophe Guilluy, a French geographer, makes the case that France has become an “American society”—one that is both increasingly multicultural and increasingly unequal. The divide between the global economy’s winners and losers in today’s France has replaced the old left-right split, leaving many on “the periphery.” As Guilluy shows, there is no unified French economy, and those cut off from the country’s new economic citadels suffer disproportionately on both economic and social fronts. In Guilluy’s analysis, the lip service paid to the idea of an “open society” in France is a smoke screen meant to hide the emergence of a closed society, walled off for the benefit of the upper classes. The ruling classes in France are reaching a dangerous stage, he argues; without the stability of a growing economy, the hope for those excluded from growth is extinguished, undermining the legitimacy of a multicultural nation.

Democracy and Prosperity

Author : Torben Iversen
Publisher : Princeton University Press
ISBN 13 : 0691210217
Total Pages : 359 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Democracy and Prosperity by : Torben Iversen

Download or read book Democracy and Prosperity written by Torben Iversen and published by Princeton University Press. This book was released on 2020-11-03 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is a widespread view that democracy and the advanced nation-state are in crisis, weakened by globalization and undermined by global capitalism, in turn explaining rising inequality and mounting populism. This book, written by two of the world's leading political economists, argues this view is wrong: advanced democracies are resilient, and their enduring historical relationship with capitalism has been mutually beneficial. For all the chaos and upheaval over the past century--major wars, economic crises, massive social change, and technological revolutions--Torben Iversen and David Soskice show how democratic states continuously reinvent their economies through massive public investment in research and education, by imposing competitive product markets and cooperation in the workplace, and by securing macroeconomic discipline as the preconditions for innovation and the promotion of the advanced sectors of the economy. Critically, this investment has generated vast numbers of well-paying jobs for the middle classes and their children, focusing the aims of aspirational families, and in turn providing electoral support for parties. Gains at the top have also been shared with the middle (though not the bottom) through a large welfare state. Contrary to the prevailing wisdom on globalization, advanced capitalism is neither footloose nor unconstrained: it thrives under democracy precisely because it cannot subvert it. Populism, inequality, and poverty are indeed great scourges of our time, but these are failures of democracy and must be solved by democracy.