Critically acclaimed author Clyde Prestowitz reveals the shocking extent of the deterioration of American economic strength that has put the United States on the brink of irreversibly losing our supremacy on the world stage and our prosperity at home. While the financial crisis has been a devastating blow, he shows that the wreckage of our economic might started much earlier. If we do not make decisive changes fast, he reveals, we will face the daunting challenges of living in a post-dollar world: wielding less and less power over world affairs, vulnerable to rising security threats, and left with a permanently lower standard of living. There is nothing inevitable about this slide, he argues, but fighting back will require recognizing—and reversing—a glaring set of errors made by our business and political leaders due to ideological adherence to deeply flawed doctrines of always-efficient markets and the purely positive effects of globalization. Providing a masterful history of the rise and decline of the brilliant "American way" of building our prosperity, Prestowitz pinpoints exactly the set of ill-fated steps by which, starting in the 1970s, we turned away from the very strengths that had brought us to world leadership, gutting our capacity to produce truly first-rate, cutting-edge products and going massively into debt. He then lays out the urgent steps we must take to come booming back. The Betrayal of American Prosperity is an indispensable contribution to the urgent debate about the future of the American economy and our role in the world.
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"I book that, in some respects affirmed and in others, changed my beliefs in the benefits and ills of our assumptions about trade and the sources of economic strength. I liked Prestowitz's ideas for improvement, but to state that their implementation would be difficult is an understatement." — Brian (4 out of 5 stars)
"I book that, in some respects affirmed and in others, changed my beliefs in the benefits and ills of our assumptions about trade and the sources of economic strength. I liked Prestowitz's ideas for improvement, but to state that their implementation would be difficult is an understatement."
A vivid history of American development and trade policy, a fierce indictment of corporate short-termism and slothful public policy, as abetted by too many economists over the years.
" Fantastic book - explains why the world economic system works the way it does through historical consideration and then how we can update our understanding. A must read if you happen to suffer from economic orthodoxy. "
" 2010. Well researched. Well written. "
Clyde Prestowitz is the author of the bestselling and critically acclaimed books Trading Places, Rogue Nation, and Three Billion New Capitalists. He served in the Reagan administration as counselor to the Secretary of Commerce and as a principal trade negotiator for Asia. He was also vice chairman of President Clinton’s Commission on Trade and Investment in the Asia-Pacific region. The founder of the Economic Strategy Institute in Washington, DC, Prestowitz advises governments, global corporations, and labor unions on competitiveness and globalization strategy. He has written hundreds of articles and op-eds in the New York Times, the Financial Times, the Washington Post, the Economist, and other leading publications over the past twenty-five years based on his experiences both in the corporate world and in government. He lives in Washington, DC.
Erik Synnestvedt has recorded nearly two hundred audiobooks for trade publishers as well as for the Library of Congress Talking Books for the Blind program. They include The Day We Found the Universe by Marcia Bartusiak, A Game as Old as Empire edited by Steven Hiatt, and Twitter Power by Joel Comm.
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