The Oxford Handbook of Local Competitiveness

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The local levels of economies have felt the impact of technological change and globalization. These forces have triggered the need to understand the dynamic mechanisms that enable locales to respond to such changes. For example, the downsizing of traditional employers because of a major loss in market share due to new competitors, acquisition by global firms, or off-shoring of production or services was traditionally thought to be beyond the scope of powers of local policy makers, thinkers, and business leaders. In the world of practice, those concerned about the economic performance of place-city, region or state-are increasingly focused on how to adapt to these trends and leverage their existing resources to respond to these global challenges as a positive opportunity. The Oxford Handbook of Local Competitiveness brings together some of the leading minds in the fields of business, economics, and the social sciences to identify, articulate, and analyze what influences and shapes local competitiveness and what places can do to enhance their economic performance. The contributors to the Handbook provide a body of systematic analyses suggesting that the local context is a critical element of the forces that shape competitiveness. The challenges to generate and sustain economic performance vary across places, and the factors and conditions that either enhance or impede competiveness also are place-specific. Finally, the characteristics and nature of what constitutes success also vary across places. This Handbook is essential reading material for academics in the fields of economics and public policy, as well as business leaders who hope to gain a more in-depth understanding of their field. Informative and intellectually rigorous, The Oxford Handbook of Local Competitiveness is the definitive volume of scholarly analysis regarding the relationship between place and economic competition.
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About the author

David B. Audretsch is a Distinguished Professor and Ameritech Chair of Economic Development at Indiana University, where he also serves as Director of the Institute for Development Strategies. He is also an Honorary Professor of Industrial Economics and Entrepreneurship at the WHU-Otto Beisheim School of Management in Germany. In addition, he serves as a Visiting Professor at the King Saud University in Saudi Arabia, and is a Research Fellow of the Centre for Economic Policy Research in London. Albert N. Link is Professor of Economics at the University of North Carolina at Greensboro (UNCG). He received, with honors, a B.S. in mathematics from the University of Richmond in 1971 and a Ph.D. in economics from Tulane University in 1976. After receiving the Ph.D., he joined the economics faculty at Auburn University, where he remained until he joined the economics faculty at UNCG in 1982. Professor Link's research focuses on technology and innovation policy, the economics of R&D, and policy/program evaluation. He is currently the Editor-in-Chief of the Journal of Technology Transfer. Mary Lindenstein Walshok is Associate Vice Chancellor, Public Programs, Dean, University Extension and Adjunct Professor of Sociology at the University of California, San Diego. Professor Walshok is a leading thinker on aligning workforce development with regional economic growth and innovation. As an industrial sociologist, she has been researching various American regions for the US Department of Labor, NSF, and Lilly Foundation. One of her current research projects is an NSF-funded study of the role of boundary-spanning organizations in shaping the social and cultural dynamics of highly innovative regions.
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Additional Information

Publisher
Oxford University Press
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Published on
Aug 3, 2015
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Pages
592
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ISBN
9780199993321
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Language
English
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Genres
Business & Economics / Development / Economic Development
Business & Economics / Management
Business & Economics / Money & Monetary Policy
Business & Economics / Strategic Planning
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Content Protection
This content is DRM protected.
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Available on Android devices
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Eligible for Family Library

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Andreas M. Antonopoulos
James Rickards
In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon.

 

Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008.

Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. And the next crash is overdue. Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict.

As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself.

Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas.

While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors. Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a more informed and effective course of action.




From the Hardcover edition.
David B. Audretsch
Previous generations enjoyed the security of lifelong employment with a sole employer. Public policy and social institutions reinforced that security by producing a labor force content with mechanized repetition in manufacturing plants, and creating loyalty to one employer for life. This is no longer the case. Globalization and new technologies have triggered a shift away from capital and towards knowledge. In today's global economy, where jobs and factories can be moved quickly to low-cost locations, the competitive advantage has shifted to ideas, insights, and innovation. But it is not enough just to have new ideas. It takes entrepreneurs to actualize them by championing them to society. Entrepreneurship has emerged as the proactive response to globalization. In this book, award-winning economist David B. Audretsch identifies the positive, proactive response to globalization--the entrepreneurial society, where change is the cutting edge and routine work is inevitably outsourced. Under the managed economy of the cold war era, government policies around the world supported big business, while small business was deemed irrelevant and largely ignored. The author documents the fundamental policy revolution underway, shifting the focus to technology and knowledge-based entrepreneurship, where start-ups and small business have emerged as the driving force of innovation, jobs, competitiveness and growth. The role of the university has accordingly shifted from tangential to a highly valued seedbed for coveted new ideas with the potential to create not just breathtaking new ventures but also entire new industries. By understanding the shift from the managed economy and the emergence of the entrepreneurial society, individuals, businesses, and communities can learn how to proactively harness the opportunities afforded by globalization in this new entrepreneurial society.
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