Lester Thurow: Selected Summaries: SELECTED SUMMARIES

By MAURICIO ENRIQUE FAU

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We have summarized the essentials of the following texts: THE WAR OF THE 21ST CENTURY, chapters 1 and 2 and THE FUTURE OF CAPITALISM, chapters 3 to 7 and 12.

• Language: English
• Publisher: LIBROS Y RESÚMENES DE MAURICIO E. FAU
• Release date: Sep 30, 2021
• ISBN: 9798201962814

MAURICIO ENRIQUE FAU

Mauricio Enrique Fau nació en Buenos Aires en 1965. Se recibió de Licenciado en Ciencia Política en la Universidad de Buenos Aires. Cursó también Derecho en la UBA y Periodismo en la Universidad de Morón. Realizó estudios en FLACSO Argentina. Docente de la UBA y AUTOR DE MÁS DE 3.000 RESÚMENES de Psicología, Sociología, Ciencia Política, Antropología, Derecho, Historia, Epistemología, Lógica, Filosofía, Economía, Semiología, Educación y demás disciplinas de las Ciencias Sociales. Desde 2005 dirige La Bisagra Editorial, especializada en técnicas de estudio y materiales que facilitan la transición desde la escuela secundaria a la universidad. Por intermedio de La Bisagra publicó 38 libros. Participa en diversas ferias del libro, entre ellas la Feria Internacional del Libro de Buenos Aires y la FIL Guadalajara.

Book preview

Lester Thurow: Selected Summaries

SELECTED SUMMARIES

MAURICIO ENRIQUE FAU

Published by LIBROS Y RESÚMENES DE MAURICIO E. FAU, 2021.

While every precaution has been taken in the preparation of this book, the publisher assumes no responsibility for errors or omissions, or for damages resulting from the use of the information contained herein.

LESTER THUROW: SELECTED SUMMARIES

First edition. September 30, 2021.

Copyright © 2021 MAURICIO ENRIQUE FAU.

ISBN: 979-8201962814

Written by MAURICIO ENRIQUE FAU.

Table of Contents

Title Page

Copyright Page

SUMMARY OF TEXTS BY LESTER THUROW [1] | INTRODUCTION

THE WAR OF THE 21ST CENTURY | CHAPTER 1  The bear of the woods has DEPARTED

The new game | There has been a technological revolution, with new industries relying on brainpower. human labor replaces nature or capital in importance.

The problems of capitalism

Military and economic power

The XXI Century

CHAPTER 2  THE NEW ECONOMIC GAME | New competitors

In individualistic capitalism it is more important to earn at low wages, while in communitarian capitalism the worker is integrated into production as a stakeholder in the company's progress. The employee is the first stakeholder in the company's success. In addition, both Europe and Japan believe that the government has a role to play in economic growth. These countries have a social market economy and not just a market economy. Welfare is important here, since market-driven inequalities must be corrected by state action. In the U.S., on the other hand, if an individual does badly, it is his or her fault.

New sources of strategic advantages

Natural resources

Capital

Technology

Skills

New rules for playing "the game

THE FUTURE OF CAPITALISM | CHAPTER 3  PLATE 1: THE END OF COMMUNISM | Economic geography | The communist world[2]collapsed, now its population will be subjected to a very different way of life such as: taking risks, looking for business or housing; they will also have to give up privileges such as: free education, free medical care, subsidies, etc.

China

The end of import substitution and quasi-socialism in the Third World | The author quotes Keynes who said practical men who believe themselves to be practically exempt from all intellectual influence are usually the slaves of some deceased economist. The quote serves to say that Raul Prebisch was the master who argued that the road to development should be quasi-socialism and import substitution. In other words: high tariffs and government sponsorship for companies that wanted to establish themselves to produce what was previously imported.

The Middle East

Political geography

No competitors

CHAPTER 4  PLATE 2: AN ERA BASED ON MAN'S INTELLECTUAL CAPACITY | The disappearance of the classic comparative advantage

Skills: the only source of sustainable competitive advantage in the long term

Technologies based on intellectual capacity and company characteristics. | Thanks to today's advances in telecommunications, especially video conferencing with high resolution equipment, a large enterprise can be controlled and managed (the military calls these coordinated functions as c3). This system improves the detailed downward transmission of orders by decentralizing some decision making (experience shows that upward transmission occurs in the case of good or extremely bad news, but no one is responsible for poor performance). The idea is to break down the divisions into functional areas: research, development, marketing, etc. Therefore, the hierarchical levels must want to know what the priorities are and know how to transmit the company's strategies so that employees can carry out the task. | Values in an electronically interconnected global society | AUDIOVISUAL MEDIA CHANGED THE WORLD: TELEVISION, INTERNET, AUDIOVISUAL ARTS, ALL OF THEM INFLUENCED CAPITALIST CULTURE

The population problem is more distressing in the Third World than in the First World, mainly because there are no means to make the necessary investments to provide this population with a minimum standard of living (health, education and housing). Moreover, it would be necessary for their population to grow at a lower rate than per capita income. | Another problem is the availability of water, i.e. the amount of drinking water is scarce and the desalination of the seas is very expensive. It must also be taken into account that human populations are the cause of pollution.

If the statistics are uncertain, the displacement that is currently taking place from the third world to the first is not; according to the author, 100 million people live outside the country where they were born. This migration is different from that of the late nineteenth and early twentieth centuries, because in that case they were