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The Road from Ruin: How to Revive Capitalism and Put America Back on Top
by Matthew Bishop Michael GreenWe Have a World-Class Mess . . . Now What? Amid the carnage of bankruptcies, soaring unemployment, and millions of families losing their homes during the financial crisis of 2007-2009 lay the bloody corpse of a set of ideas that had underpinned the economics of the previous thirty years. A system that had been delivering unprecedented prosperity on a global scale suddenly teetered on the verge of collapse. Capitalism was seemingly exposed as a house of cards. The blame game became a new national pastime as doomsayers predicted the end of America's leadership of the world economy. We're at a crossroads, and decisions about how to reshape a discredited capitalism will profoundly affect whether the coming years will be ones of depression, stagnation, or renewed prosperity. Instant analysis since the collapse of the financial system in the fall of 2008 has produced no end of ideas about what to do--ranging from those of free market ideologues (let the market do its work and damn the consequences) to extreme government interventionists determined to keep the animal spirits of capitalism penned up.But if there is anything worse than toxic financial assets it is toxic ideas. We need to reject the old orthodoxies and conventional wisdoms. Matthew Bishop and Michael Green take a step back and analyze what can be learned from financial crises of the past--from the Tulip Craze of the seventeenth century through the Great Depression of the 1930s, Japan's Great Deflation, and the Long-Term Capital debacle of the 1990s to the unprecedented interventions of the government during the past year--to set the agenda for a reformed twenty-first-century capitalism. The result is an enlightening perspective on what set us on the road to ruin, as well as road signs to guide us back to prosperity. --Why bubbles are the consequence of financial innovations that generate economic breakthroughs, but why it would be wrong to abandon these inventions of the financial engineers. The Road from Ruin explains how stifling innovation and risk-taking comes at a huge cost to future prosperity.--Why the economy needed a fiscal stimulus to recover from the crisis. Bishop and Green show how economic dogmatists of the Right, who opposed the stimulus, got it wrong, but warn that those on the Left who want the stimulus to run and run could usher in a new era of high inflation.--Why company bosses became too focused on short-term results and did not see the crisis coming. The Road from Ruin shows how we can get business leaders to put the interests of society ahead of their own pay-packets.--The danger of focusing on the financial symptoms of the crisis without tackling the underlying economic causes, such as the world operating on the dollar standard. Bishop and Green show why the role of the dollar as the world's reserve currency is not just a problem for the rest of the world but for the United States as well. --Why many of capitalism's champions--especially the advocates of the efficient market hypothesis--lost touch with reality. The Road from Ruin provides insights into new ideas in economics that recognize how the complexity and irrationality of the human beings who make up the economy can be harnessed to build a better capitalism. Remarkably, the issues we face today have presented themselves in one form or another over the past three centuries. Matthew Bishop and Michael Green skillfully draw both the lessons learned and prescriptions for reform to prevent another catastrophic meltdown and put America back on top.From the Hardcover edition.
The Road Leading to the Market (Routledge Economic Growth and Development Series)
by Zhang WeiyingSince the reform and opening up period, the world has witnessed a transformation within China. This transformation has led millions out of poverty within China and has in recent years seen China as an important and vital engine of economic growth for the rest of the world. While China has made great strides in embarking on the road to a market economy, this book emphasizes that transformation within China to market-driven development is far from over. In this book, Zhang puts forward the idea that the reform in China has now reached a crossroads. The next steps have a bearing not only on the sustainability of past reform but even on whether China will become a veritable world power in the future. With the reform at this pivotal juncture, this book explores further reform within China and examines how the reform debate will develop. The Road Leading to the Market is a highly readable collection of essays which will appeal to researchers and students of China’s economy and a globalized economy.
The Road Map of China's Steel Industry: Reduction, Innovation and Transformation
by Xinchuang LiThis book explores the principles of supply-side structural reform and current practices in the Chinese steel industry. Focusing on the general requirements for high-quality development, it reviews the evolution of the global and Chinese steel industries with regard to reduction, innovation, and transformation. It also summarizes industrial development law from a transfer route perspective, analyzes major challenges and opportunities for the steel industry in the new era, and proposes strategic orientation and implementation measures for the future development of the steel industry.The book contends that high-quality development of the steel industry must be driven by innovation, and it is essential to promote integrated development based on several aspects – greenness, coordination, quality, standardization, differentiation, service, intelligence, diversification, and internationalization – in order to reshape the industrial value chain and continuously improve industrial competitiveness. This concept is essential to help Chinese steel companies prepare development plans for transformation and upgrading. Combining thorough analysis, unique insights, and many practical cases, the book offers a guide to and inspiration for future implementation approaches.
Road Map to Enhanced Analytical Capabilities: Progressing Through the Five Stages of Development
by Thomas H. Davenport Jeanne G. HarrisThe overwhelming majority of organizations have neither a finely honed analytical capability nor a detailed plan to develop one. This chapter introduces a road map that describes how organizations become analytical competitors and the behaviors, capabilities, challenges, and benefits associated with each stage of the development process. This chapter was originally published as Chapter 6 of "Competing on Analytics."
The Road Out of Debt + Website
by Feeney J. N.A practical guide to getting out of debt and understanding the option of personal bankruptcy The current credit and financial crises have prompted Joan Feeney, a preeminent Massachusetts Bankruptcy Judge, and Theodore Connolly, a Finance and Bankruptcy Attorney, to write a book that will help people handle their financial troubles. The Road Out of Debt seeks to assist those considering bankruptcy by demystifying the bankruptcy process and explaining what you can expect to gain (or lose) from it. With the insights of both a bankruptcy judge and a bankruptcy lawyer, you'll be able to determine when it's best to avoid bankruptcy, when you should seek bankruptcy protection, and, most importantly, how best to work through the bankruptcy process, if you so choose. With millions of Americans personally facing dire financial situations, job losses, home foreclosures, and other major financial challenges, no book could be more timely. An exceptional resource for anyone contemplating bankruptcy or otherwise trying to figure out how to handle their debt Puts the bankruptcy process in perspective and reveals specific steps to follow Discusses how to decide whether or not bankruptcy is the right path for you Written by a well-respected bankruptcy judge and bankruptcy attorney As more people find themselves entering financial difficulties, an increasing number of them will need information to help them through these problems. The Road Out of Debt provides you with the serious solutions needed to overcome a personal financial crisis.
Road Rage at the DMV
by Andrew Wasynczuk Karim Sameh Katherine CoffmanWhen Hewlett-Packard Enterprise notified Rhode Island's Governor's Office that it won't be able to deliver a "fully-functioning" technology upgrade for the Department of Motor Vehicles, both parties had reached a breaking point. HPE argued that it would need more money to complete the system, while the Governor's cabinet countered by stating that HPE was violating its contractual obligations. The case covers Rhode Island's perspective of the various moves each side made in preparation for anticipated adjudication.
A Road Taken
by David Mclean Patricia FinnNineteen years ago, David McLean was appointed by the prime minister of Canada to the board of directors of CN, after which he was elected chairman. McLean has been reelected each year and will retire in April 2014. In A Road Taken, the longest-serving chairman of the board in CN history explains complex business issues in very human terms. McLean's stories include his leadership role in the privatization of the company and the intrigue and egos in the behind-the-scenes race to launch the biggest IPO in Canadian history at that time. They also include the adventure and challenge of a prairie childhood, a university education fuelled by team sports and ambition, and a successful career in law and business. McLean plumbs the depths and delivers a treatise on leadership in business and life that is as moving as it is honest.
The Road to a Modern IT Factory
by Ferri AbolhassanIT is currently going through one of its most critical phases of transformation. IT vendors and IT service organizations are revolutionizing their production and service processes, adopting industrial practices. It is only through the consistent transformation into factory-like structures that quality, effectiveness and efficiency can be increased. By integrating professional concepts and methods taken from the context of industrial production, it is possible to meet functional and qualitative requirements from the departments and therefore from the end user. On top of that this new paradigm enables the implementation of optimal processes in the organization. An interdisciplinary team of authors addresses the current challenges for global IT services organizations and describes the process of IT industrialization. The transformation of the IT industry towards the model of an IT factory is the core theme of this book, which takes the latest findings from applied research, consulting and IT business practices and combines them into a consistent and innovative approach to IT services.
The Road to Co-operation: Escaping the Bottom Line
by Gordon PearsonThis critical and informed protest against the absurdity and dishonesty of neoclassical economic theory as it has progressed through the 20th century down to the present, sheds new light on the predicament faced in 2012. In The Road to Co-operation, Pearson highlights the dangers of using unrealistic mathematical models of human, organisational and market behaviour to guide policy prescriptions. He shows the damage done to real economies, markets, firms and people, by the unwarranted trust in unregulated markets, proclaimed by Friedman and colleagues, promulgated by academia and adopted by the financial-political-corporate nexus, now dominant in Anglo-American jurisdictions. Though real markets work better than known alternatives, Pearson makes the crucial distinction between the real and the speculative-financial, where totally different realities apply. Failure to make that distinction has transformed financial sectors from supportive of the real economy, to exploitative and sometimes fraudulent. Pearson provides a comparative analysis of corporate governance theory, law, and practice in different jurisdictions, including the self-destruction of post-mature Anglo-American governance with the more robust custom and practice in the industrial economies of Germany and Japan and emerging economies of China and India, which all exercise care for their real economic strengths and provide object lessons for governance in UK and US. The Road to Co-operation proposes realistic changes in policy and practice, in the context of sustainability, which would be prerequisite to recapturing real long term economic success on a co-operative and non-exploitative foundation. It will be invaluable for today's business faculty, students and practitioners as well as the 'madmen in authority'.
The Road to Cuba
by Gustavo Arnavat Knowledge Wharton Mauro F. Guillén Faquiry Diaz CalaThe first ebook to examine the opportunities and risks for US business in Cuba since President Barack Obama announced his intention to normalize relationsAfter President Barack Obama's announcement in December 2014, investors, business leaders, and entrepreneurs began asking questions: What will this historic change mean for economic relations between the United States and Cuba? What opportunities-and risks-should US companies consider as they explore the business potential of one of the largest markets in the Caribbean?The Road to Cuba: The Opportunities and Risks for US Business answers those questions and more. In this original in-depth ebook, Knowledge@Wharton, The Wharton School's online journal of business analysis, addresses:Quick-win opportunities: travel and tourism, telecoms, financial services, and food industriesLonger-term prospects: construction and real estate, energy production and mining, manufacturing and retail, pharmaceuticals and biotechnology, and agricultureThe political and economic risks and hurdles: An analysis of what could speed up-or derail-progress in relationsThe Road to Cuba is a comprehensive guide for business leaders in the United States who want to understand the opportunities the Cuban market holds. It is also a must-read for business leaders in Cuba and around the world who want to understand the investment and competition that is on its way.About Knowledge@Wharton BooksInsights and inspiration business leaders can use today-from The Wharton School's online journal of business analysisKnowledge@Wharton Books offer you the signature reporting that Knowledge@Wharton readers have come to expect, including in-depth coverage and analysis of important business trends, accessible explanations of the latest business research, and inspiring conversations with today's thought leaders.Published exclusively as ebooks by Wharton Digital Press, this practical line of books includes two series:Knowledge@Wharton Originals: All-new, in-depth coverage of a timely important and business matter or trend, featuring key takeaways that business leaders and professionals can leverage immediatelyKnowledge@Wharton Essentials: Collects the best of Knowledge@Wharton's reporting on a single topic of significant business concern, laying out the challenges and offering solutionsEach Knowledge@Wharton ebook offers you what you need to address a business challenge or opportunity head on-today.
The Road to Cuba, Revised and Updated Edition: The Opportunities and Risks for US Business (Knowledge@Wharton Originals)
by Mauro F. Guillén Knowledge Wharton Gustavo Arnavat Faquiry Diaz CalaFully updated and revised as of March 2016, this new edition covers the latest developments to help US businesses build a strategic roadmap into the Cuban market.After President Barack Obama's announcement in December 2014, investors, business leaders, and entrepreneurs asked, What will this historic change mean for economic relations between the United States and Cuba? What opportunities-and risks-should US companies consider as they explore the business potential of one of the largest markets in the Caribbean? Now, 15 months later, the answers are becoming more clear.In The Road to Cuba: The Opportunities and Risks for US Business, Knowledge@Wharton, The Wharton School's online journal of business analysis, answers these questions and addresses:Quick-win opportunities: travel and tourism, telecoms, financial services, and food industriesLonger-term prospects: construction and real estate, energy production and mining, manufacturing and retail, pharmaceuticals and biotechnology, and agricultureThe political and economic risks and hurdles: An analysis of what could speed up-or derail-progress in relationsThe Road to Cuba is the most up-to-date guide for business leaders in the United States who want to understand the opportunities the Cuban market holds. It is also a must-read for business leaders in Cuba and around the world who want to understand the investment and competition that is on its way.
The Road to Financial Reformation
by Niall Ferguson Henry KaufmanOur financial crisis: what happened, how we got here, and what needs to be doneHenry Kaufman-an esteemed economist and statesman-is one of the most preeminent financial figures of the day, with a history of success from the 1980s, when his firm, Salomon Brothers, ruled the bond markets.In The Road to Financial Reformation, Dr. Kaufman, who has spent a lifetime entrenched in the world of finance, provides an insightful account of the history and impact of post-World War II financial markets on the economy-what happened, how we got to where we are today, and what needs to be done. Drawing on his vast breadth of knowledge and experience, Kaufman reveals the mistakes that got us into this debacle, the consequences-as they have not been fully realized-and how to put our derailed economy back on track. This book details Dr. Kaufman's warnings and concerns expressed repeatedly throughout the last quarter century, and shows that what he predicted came to pass.Provides an insightful account of the history and impact of post-World War II financial markets on the economyExplores the erosion of credit ratings on corporate debt in the late 1980s and the rapid increase in financial concentration of institutionsDiscusses the blinding faith in models that rely on historical data but fail to take into account economic and financial market structural changesWith his breadth of knowledge and experience, Kaufman details that this crisis was foreseeable (he saw it coming), and how we created this history-making financial crisis. He also explains the consequences still to come, and presents solutions on how we can recover and reform the markets.
Road to Flourishing: Eight Keys to Boost Employee Engagement and Well-Being
by Al LopusWhat makes for a flourishing workplace?Many organizations find themselves spinning their wheels in work cultures filled with toxicity, dysfunction, conflict, and fear. Unengaged employees drag down productivity, and ineffective management undermines morale. How can we create workplaces where people don't just struggle to get through the day but instead thrive and love what they do and where they work?Al Lopus, cofounder and CEO of Best Christian Workplaces Institute, has studied hundreds of organizations to discover eight key drivers in companies with healthy culture and engaged employees. He gathers best practices from across a range of companies and ministries to demonstrate how people at all levels can work together to accomplish work that matters. Principles and real-life examples provide concrete ways that organizations can flourish by building fantastic teams, cultivating life-giving work, attracting and retaining outstanding talent, and much more.Road to Flourishing
The Road to Freedom: Economics And The Good Society
by Joseph E. StiglitzFrom one of the world’s leading economists, a compelling new vision of personal and economic freedom. We are a nation born from the conviction that people must be free. But since the middle of the last century, that idea has been co-opted. Forces on the political Right have justified exploitation by cloaking it in the rhetoric of freedom, leading to pharmaceutical companies freely overcharging for medication, a Big Tech free from oversight, politicians free to incite rebellion, corporations free to pollute, and more. How did we get here? Whose freedom are we—and should we—be thinking about? In The Road to Freedom, Nobel prize winner Joseph E. Stiglitz dissects America’s current economic system and the political ideology that created it, laying bare their twinned failure. “Free” and unfettered markets have only succeeded in delivering a series of crises: the financial crisis, the opioid crisis, and the crisis of inequality. While a small portion of the population has amassed considerable wealth, wages for most people have stagnated. Free and unfettered markets have exploited consumers, workers, and the environment alike. Such failures have fed populist movements that believe being free means abandoning any obligations citizens have to one another. As they grow in strength, these movements now pose a real threat to true economic and political freedom. As an economic advisor to presidents and as chief economist at the World Bank, Stiglitz has witnessed these profound changes firsthand. As he argues, the failures follow from the elites’ unshakeable dedication to “the neoliberal experiment.” Explicitly taking on giants such as Friedrich Hayek and Milton Friedman, Stiglitz exposes accepted ideas about our political and economic life for what they are: twisted visions that tear at the social fabric while they enrich the very few. The Road to Freedom breaks new ground, showing how economics—including recent advances in which Stiglitz has played such an important role—reframes how to think about freedom and the role of the state in a twenty-first century society. Drawing on the work of contemporary philosophers, Stiglitz explains a deeper, more humane way to assess freedoms—one that considers with care what to do when one person’s freedom conflicts with another’s. We must reimagine our existing economic and legal systems and embrace forms of collective action, including regulation and investment, if we are to create an innovative society in which everyone can flourish. The task could not be more urgent, and Stiglitz’s latest book is essential reading for those committed to the American ideal of an economic and political system that delivers well-being, opportunity, and meaningful freedoms for all.
The Road to Full Employment (Routledge Library Editions: Employment and Unemployment #1)
by Sean Glynn Alan BoothFirst published in 1987. This volume explores the inter-war unemployment problem and the development of economic and social policy in relation to that problem. Contemporary policies and levels of unemployment can only be compared with the inter-war period and in recent years economists and other commentators have increasingly turned their attention to the 1930s. This book is written by a group of expert historians and policy analysts who have been in the forefront of recent research. In particular, new insights into economic policy which have come from the release of cabinet and departmental papers at The Public Record Office are revealed. Recent economic theory is also taken into account and the findings question established views on many grounds. New economic lessons from the 1930s are suggested and some astonishing similarities to the 1980s and demonstrated. This work will be essential reading for students of modern British history and economic and social history as well as economic policy and government and politics.
The Road to Global Prosperity
by Michael MandelbaumIN That Used to Be Us, the bestseller Michael Mandelbaum wrote with Thomas L. Friedman, the authors analyzed the challenges America faces, including globalization, and described a path to recovering America's greatness. In The Road to Global Prosperity, Mandelbaum, one of America's leading authorities on international affairs, looks at recent developments that call into question our optimism about the world's economic future: the financial meltdown of 2008, Europe's troubled currency, the reduced growth of China, India, and other emerging nations. He shows that while the global economy will face major challenges in the years ahead, there are powerful reasons to believe that globalization will continue to make the world richer. Mandelbaum examines the politics of the global economy and explains why globalization is both irreversible and a positive force for the United States and the world. As technology and free markets expand and national leaders realize that their political power depends on delivering prosperity, countries are likely to cooperate more and fight less. As more nations connect, their economies will grow. As immigration increases, as more money crosses borders, and as more countries emerge from poverty, individuals and societies around the world will benefit. The Road to Global Prosperity illuminates the crucial political issues that will determine the economic future. Mandelbaum makes a persuasive case for optimism and offers a concrete, practical guide to the economic challenges and opportunities that lie ahead.
Road to Hell (A)
by Gareth EvansDeals with the problems of developing indigenous personnel to take over expatriate positions. Human relations cases, they deal specifically with the problems of communications and misunderstandings between people of different cultures. A rewritten version of three earlier cases.
The Road to Inequality: How the Federal Highway Program Polarized America and Undermined Cities
by Clayton NallThe Road to Inequality shows how policies that shape geographic space change our politics, focusing on the effects of the largest public works project in American history: the federal highway system. For decades, federally subsidized highways have selectively facilitated migration into fast-growing suburbs, producing an increasingly non-urban Republican electorate. This book examines the highway programs' policy origins at the national level and traces how these intersected with local politics and interests to facilitate complex, mutually-reinforcing processes that have shaped America's growing urban-suburban divide and, with it, the politics of metropolitan public investment. As Americans have become more polarized on urban-suburban lines, attitudes towards transportation policy - a once quintessentially 'local' and non-partisan policy area - are now themselves driven by partisanship, endangering investments in metropolitan programs that provide access to opportunity for millions of Americans.
The Road to J.O.Y.: Leading with Faith, Playing with Purpose, Leaving a Legacy
by Scott DrewScott Drew, head basketball coach of the NCAA National Championship-winning Baylor Bears, rebuilt a program mired in scandal by instilling a culture of putting Jesus first. More than a book about basketball, this is a road map for leading with, and living out, your faith in any context--in sports, in business, and in life.Nearly seventeen million viewers tuned into the 2021 NCAA National Championship to see the Baylor Bears, led by head coach Scott Drew, beat the top-ranked Gonzaga Bulldogs, who were undefeated heading into the championship game. The win was Baylor&’s first National Championship--the culmination of the biggest turnaround in college sports history. When Drew accepted the head coaching position at Baylor in 2003, the job was arguably the worst in all of college sports. The men&’s basketball team had been disgraced by scandal: one player murdered a teammate, and the head coach who lied about the details tried to conceal illegal cash payments to his players, including a false allegation that the murdered player had been dealing drugs. It was an unprecedented story and a national embarrassment. Still, Coach Drew had a confident vision of what the program could be, even in the face of such adversity, and he guided his team to the pinnacle of success while leading with, and living out, his faith. The Road to J.O.Y. shares:Biblical principles that have helped Coach Scott Drew lead well through challenging timesAn insider&’s look at the others-first culture that spurred Baylor&’s reboundCoach&’s wisdom for investing in others and creating a successful organizationThe leadership lessons Drew has learned from growing up in a famous basketball family and years of coachingHow faith is the foundation for everything Drew does With equal parts inspirational memoir and personal and professional growth, The Road to J.O.Y. is perfect for anyone who is looking to better live out their faith, lead a team, achieve a goal, or mentor others.
The Road to Kolkata: NH-34 and PPP in India
by Ben Eppler Sid YogIn 2014, Arjun Dhawan (MBA 2004), president of HCC Concessions, is working toward the completion of his largest road development project yet. The route, a 250-km stretch leading from the critical eastern Indian port of Kolkata into the interior of the province of West Bengal, is a prime example of both the benefits and the drawbacks of public-private partnerships in the Indian transportation sector. Despite delays and political pressure, HCC Concessions has nearly finished building the road and now is receiving offers to purchase the project's equity.
The Road To Luxury
by Christian Blanckaert Ashok SomA thorough, comprehensive guide to the luxury goods industry forexecutives, entrepreneurs, and MBA students As key new luxury markets like China and India continue toexpand, this book gives professionals in the industry a holisticunderstanding of luxury market dynamics around the world usingrelevant data and statistics on current market trends. Forinvestors, the book offers valuable insight on where the industryis headed. For industry insiders and executives, it presentsvaluable data with which to craft successful businessstrategies.The definitive insider's guide to the luxury sectorIncludes rigorous academic data, including information on thebusiness attractiveness and appropriateness of various countrymarketsFor professionals in the luxury industry, as well as thosestudying it or investing in it, Luxury presents a completeand information-packed resource covering virtually every aspect ofthis growing sector.
The Road to Luxury: The New Frontiers in Luxury Brand Management
by Ashok Som Christian BlanckaertDiscover the meaning of the latest trends in the luxury industry with this resource from leading voices in the field The thoroughly revised Second Edition of The Road to Luxury: The New Frontiers in Luxury Brand Management delivers a comprehensive overview of the foundations of, and new developments in, luxury brands. The book discusses a new wave of mergers and acquisitions, the rise of Gucci, the growth of Balenciaga, a variety of new collaborations between different companies, a growing support for sustainability, and the COVID-19 pandemic. Readers will also benefit from the inclusion of: An insightful analysis of the impact and meaning of the COVID-19 for the luxury industry, particularly for market growth in China The creation of savoir faire and business plan competitions in the luxury industry LVMH’s sponsoring of Viva Technology Perfect for students in MBA programs or taking degrees or courses in Luxury Brand Management, The Road to Luxury will also earn a place in the libraries of executives and managers in the luxury business, marketing, branding, and advertising professionals and companies, and entrepreneurs interested in the workings of the luxury industry.