Published by:
Harvard Business Publishing
Length: 5 pages
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Abstract
Newsweek economics writer Marc Levinson reviews Lester C. Thurow''s book The Future of Capitalism: How Today''s Economic Forces Shape Tomorrow''s World and takes the author to task for once again using a U.S. presidential election as the occasion for making dire economic predictions. But although he thinks Thurow''s gloom is unwarranted, he credits him with asking the right question: How do you confront the widening inequality of incomes and opportunities that intense competition brings? Thurow has adapted the theory of punctuated equilibrium in evolutionary biology to describe how a relatively stable economic environment can be disrupted overnight by a chaotic transformation. He points to today''s global shift from the age of mass production to the age of brainpower and warns that, as the resulting gap between rich and poor widens, frustration will tax the resilience of democracy.
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Abstract
Newsweek economics writer Marc Levinson reviews Lester C. Thurow''s book The Future of Capitalism: How Today''s Economic Forces Shape Tomorrow''s World and takes the author to task for once again using a U.S. presidential election as the occasion for making dire economic predictions. But although he thinks Thurow''s gloom is unwarranted, he credits him with asking the right question: How do you confront the widening inequality of incomes and opportunities that intense competition brings? Thurow has adapted the theory of punctuated equilibrium in evolutionary biology to describe how a relatively stable economic environment can be disrupted overnight by a chaotic transformation. He points to today''s global shift from the age of mass production to the age of brainpower and warns that, as the resulting gap between rich and poor widens, frustration will tax the resilience of democracy.