The Next Convergence: The Future of Economic Growth in a Multispeed World

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A Washington Post Notable Nonfiction Book for 2011

With the British Industrial Revolution, part of the world's population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway through a century of high and accelerating growth in the developing world and a new convergence with the advanced countries—a trend that is set to reshape the world.

Michael Spence, winner of the Nobel Prize in Economic Sciences, explains what happened to cause this dramatic shift in the prospects of the five billion people who live in developing countries. The growth rates are extraordinary, and continuing them presents unprecedented challenges in governance, international coordination, and ecological sustainability. The implications for those living in the advanced countries are great but little understood.

Spence clearly and boldly describes what's at stake for all of us as he looks ahead to how the global economy will develop over the next fifty years. The Next Convergence is certain to spark a heated debate how best to move forward in the post-crisis period and reset the balance between national and international economic interests, and short-term fixes and long-term sustainability.

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About the author

Michael Spence is a Professor of Economics at the Stern School of Business at New York University, a senior fellow at the Hoover Institution, and was the chairman of the independent Commission on Growth and Development. Winner of the Nobel 2001 Prize in Economic Sciences, he lives in California and Italy.

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Additional Information

Publisher
Farrar, Straus and Giroux
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Published on
May 10, 2011
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Pages
320
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ISBN
9781429968713
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Features
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Language
English
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Genres
Business & Economics / Development / Economic Development
Business & Economics / International / Economics
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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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The global phenomenon that has sold 3.6 million copies, is published in a record-breaking 44 languages and is a bestseller across five continents—now updated and expanded with new content

In this perennial bestseller, embraced by organizations and industries worldwide, globally preeminent management thinkers W. Chan Kim and Renée Mauborgne challenge everything you thought you knew about the requirements for strategic success. Recognized as one of the most iconic and impactful strategy books ever written, Blue Ocean Strategy, now updated with fresh content from the authors, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves (spanning more than 100 years across 30 industries), the authors argue that lasting success comes not from battling competitors but from creating “blue oceans”—untapped new market spaces ripe for growth.

Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization can use to create and capture their own blue oceans. This expanded edition includes:A new preface by the authors: Help! My Ocean Is Turning RedUpdates on all cases and examples in the book, bringing their stories up to the present timeTwo new chapters and an expanded third one — Alignment, Renewal, and Red Ocean Traps — that address the most pressing questions readers have asked over the past 10 years

A landmark work that upends traditional thinking about strategy, this bestselling book charts a bold new path to winning the future. Consider this your guide to creating uncontested market space—and making the competition irrelevant.

To learn more about the power of blue ocean strategy, visit blueoceanstrategy.com. There you’ll find all the resources you need—from ideas in practice and cases from government and private industry, to teaching materials, mobile apps, real-time updates, and tips and tools to help you make your blue ocean journey a success.

America is in trouble. We face four major challenges on which our future depends, and we are failing to meet them—and if we delay any longer, soon it will be too late for us to pass along the American dream to future generations.
In That Used to Be Us, Thomas L. Friedman, one of our most influential columnists, and Michael Mandelbaum, one of our leading foreign policy thinkers, offer both a wake-up call and a call to collective action. They analyze the four challenges we face—globalization, the revolution in information technology, the nation's chronic deficits, and our pattern of excessive energy consumption—and spell out what we need to do now to sustain the American dream and preserve American power in the world. They explain how the end of the Cold War blinded the nation to the need to address these issues seriously, and how China's educational successes, industrial might, and technological prowess remind us of the ways in which "that used to be us." They explain how the paralysis of our political system and the erosion of key American values have made it impossible for us to carry out the policies the country urgently needs.
And yet Friedman and Mandelbaum believe that the recovery of American greatness is within reach. They show how America's history, when properly understood, offers a five-part formula for prosperity that will enable us to cope successfully with the challenges we face. They offer vivid profiles of individuals who have not lost sight of the American habits of bold thought and dramatic action. They propose a clear way out of the trap into which the country has fallen, a way that includes the rediscovery of some of our most vital traditions and the creation of a new thirdparty movement to galvanize the country.
That Used to Be Us is both a searching exploration of the American condition today and a rousing manifesto for American renewal.
FEW TECHNOLOGICAL ACHIEVEMENTS are as impressive as the ability to see our own planet from outer space. The beautiful sphere suspended against the black void of space makes plain the bond that the billions of us on Earth have in common.

This global consciousness inspires space travellers who then provide emotional and spiritual observations. Their views from outer space awaken them to a grand realization that all who share our planet make up a single community. They think this viewpoint will help unite the nations of the world in order to build a peaceful future for the present generation and the ones that follow.

Many poets, philosophers, and writers have criticized the artificial borders that separate people preoccupied with the notion of nationhood. Despite the visions and hopes of astronauts, poets, writers, and visionaries, the reality is that nations are continuously at war with one another, and poverty and hunger prevail in many places throughout the world, including the United States.

So far, no astronaut arriving back on Earth with this new social consciousness has pro- posed to transcend the world's limitations with a world where no national boundaries exist. Each remains loyal to his/her particular nation-state, and doesn’t venture beyond patriotism - "my country, right or wrong" – because doing so may risk their positions.

Most problems we face in the world today are of our own making. We must accept that the future depends upon us. Interventions by mythical or divine characters in white robes descending from the clouds, or by visitors from other worlds, are illusions that cannot solve the problems of our modern world. The future of the world is our responsibility and depends upon decisions we make today. We are our own salvation or damnation. The shape and solutions of the future depend totally on the collective effort of all people working together.


Tales from the Archives are short stories set in the world of the Ministry of Peculiar Occurrences. They explore events mentioned in the novels, characters seen and unseen and may include novel teasers of things to come. This volume includes:

Under Oak Island by K T Bryski

Agent Brandon Hill is called in to investigate strange happenings in Nova Scotia. The location is an isolated stretch of land called Oak Island, a truly peculiar place with mystery and peril surrounding it. At the Money Pit, a man-made excavation site at the island’s heart, Hill meets up with Agent Anouk Tremblay, le Ministère Officiel d’Occurrences Sans Explication, the Québec counterpart to the Ministry.
Struggling against the dark claustrophobia lingering around them in their descent of the Money Pit, Hill and Tremblay navigate hydrological systems and digging technology to discover what has taken refuge under Oak Island.

Wooden Go to Waste by Sandra Wickham

Agent Cora Thorton finds herself in the forests of Canada, land she knows well as it was where she grew up in before joining the Ministry. Paired up with a junior agent, Cora steps into a rivalry between two lumber barons and the mystery surrounding six men disappearing in the dense forests, never to be seen again. The deeper Cora digs into this mystery, the more blurred lines become between reality and the superstitions of the working class.
Tales from the Archives are short stories set in the world of the Ministry of Peculiar Occurrences. They explore events mentioned in the novels, characters seen and unseen and may include novel teasers of things to come.


Why the Sea is Boiling Hot by Michael Spence

Researcher Dodgson is happy in the bowels of the R&D department of the Ministry of Peculiar Occurrences, until a mysterious death and the question of space and time fling him out of it. He finds himself in the foreign environment of field work, with the whole fate of the Ministry, and the Empire itself in his nervous hands.


Those Dark Satanic Mills by Suna Dasi

Agent Imogen Feaveryear finds herself investigating a mysterious panic overcoming a mill in the countryside of Manchester, England. The unassuming mystery, dismissed by other agents of the Ministry, leads her to India, the approval of Doctor Sound on granting the young agent the latest in R&D technology. This case only twists and turns harder as Imogen confronts an enigmatic intruder, obviously aware of her clandestine work.
Traveling alone through the mystery and intrigue of India, Agent Imogen Feaveryear follows the clues from Manchester, England to unearth a grand conspiracy against the Empire. Feaveryear, armed only with facts and the basic of armaments from R&D technology, dares to discover the true cause behind the dark magic haunting England’s industrial progress.

 
Does leadership affect economic growth and development? Is leadership an exogenous determinant or an endogenous outcome of growth and development processes? Can we differentiate between the two? Do leaders decisions and actions vary in importance over various stages in the process, at least in successful cases? How important is choosing the right economic model? To what extent does leadership affect the explicit or implicit time horizons of policy choices? Is leadership an important determinant of inclusiveness in growth? In what ways do leaders build consensus or institutions to allow time for the economic plan to work? What challenges does economic success generate? How do successful leaders adapt to new problems such as income inequality and a rising middle class? Does the creation of new institutions play any role in solving these problems? Why do leaders often choose second best political economic compromises in economic development? This book has been prepared for the Commission on Growth and Development to evaluate the state of knowledge on the relationship between leadership and economic growth. It does not pretend to provide all the answers, but does review the evidence, identify insights and offers examples of leaders making decisions and acting in ways that enhance economic growth. It examines a variety of topics including leaders roles in: promoting national unity, building good solid institutions, choosing innovative and localized policies, and creating political consensus for long run policy implementation. Written by prominent academics and actual policy makers, Leadership and Growth seeks to create a better understanding of the role of leadership in growth and to encourage further studies of the role of leadership in economic growth.
Why is productivity higher in cities? Does urbanization cause growth or does growth cause urbanization? Do countries achieve rapid growth or high incomes without urbanization? How can policy makers reap the benefits of urbanization without paying too high a cost? Does supporting urbanization imply neglecting rural areas? Why do so few governments welcome urbanization? What should governments do to improve housing conditions in cities as they urbanize? Are innovations in housing finance a blessing or a curse for developing countries? How will governments finance the trillions of dollars of infrastructure spending needed for cities in developing countries? First in a series of thematic volumes, this book was prepared for the Commission on Growth and Development to evaluate the state of knowledge of the relationship between urbanization and economic growth. It does not pretend to provide all the answers, but it does identify insights and policy levers to help countries make urbanization work as part of a national growth strategy. It examines a variety of topics: the relevance and policy implications of recent advances in urban economics for developing countries, the role of economic geography in global economic trends and trade patterns, the impacts of urbanization on spatial inequality within countries, and alternative approaches to financing the substantial infrastructure investments required in developing-country cities. Written by prominent academics in their fields, Urbanization and Growth seeks to create a better understanding of the role of urbanization in growth and to inform policy makers tackling the formidable challenges it poses.
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