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In this time of great economic change, when various factors are playing off each other and radically altering our world, one of America's most influential and popular economists identifies the factors causing disequilibrium--including the conversion of the communist world to capitalism and the promise of a truly global economy--and charts a course for surviving and winning in the future.

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Library Journal Review

In what were originally given as the Castle lectures at Yale, noted MIT economist Thurow presents his querulous view of capitalism. After an initial polite nod to capitalism as the most successful way to run an economy, he sallies off into criticism of it. To make his points, he uses an extended geological metaphor throughout‘various "plates" are grinding at one another to produce an eventual cataclysm (e.g., number one is the end of communism, four is the globalization of the economy). The analogy quickly palls, as does the unrelieved pessimism‘if things were as bad as he claims, there would surely have been a revolution by now. If Thurow were to come down from his ivory tower, he would see that the "pure" capitalism he so abhors doesn't exist; it has been changing, adopting precepts from socialism even as it adapts to the changing world. Nevertheless, this is an important work for economics collections.‘Alex Wenner, Indiana Univ. Libs., Bloomington (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

Publishers Weekly Review

In a farsighted, magisterial report, influential Massachusetts Institute of Technology economist Thurow brilliantly gauges the perils for U.S. capitalism in the emerging global economy. He warns that massive investments in skills and education are crucial if we are to cope with new technologies and with the shift to "brainpower industries" (communications, computers, etc.). Yet U.S. corporations, instead of integrating their skilled work forces into their organizations, are doing precisely the opposite and downsizing, observes Thurow with alarm. In place of a payroll tax, he proposes a progressive, value-added consumption tax to pay for pensions and health-care benefits for the elderly. In a multipolar world with no single dominant power, much of the U.S. military machine is essentially unusable and irrelevant, Thurow argues, and he envisions America playing an active but reduced role on the world stage. Appalled at our ever-lower personal-savings rate and staggering, still growing trade deficits, he predicts that the world's financial markets will soon clamp down on the U.S., with cataclysmic impact on Japan and on Third World development. Author tour. (Mar.) (c) Copyright PWxyz, LLC. All rights reserved