This book examines the economic logic of the significant variation in growth over long periods.What’s necessary for the U.S. and other developed nations to realize stronger growth and more equal incomes? What’s necessary for families to feel vacations, college educations, and retirements are possible? Will artificial intelligence (AI) automate or augment workers’ jobs? Will the 2020-2021 global pandemic be sufficiently disruptive to deliver fundamental transformati...

The first comprehensive account of the growing dominance of the intangible economyEarly in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets ...

From Nobel Prize–winning economist Jean Tirole, a bold new agenda for the role of economics in societyWhen Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipl...

From the acclaimed authors of Capitalism without Capital, r****adical ideas for restoring prosperity in today’s intangible economyThe past two decades have witnessed sluggish economic growth, mounting inequality, dysfunctional competition, and a host of other ills that have left people wondering what has happened to the future they were promised. Restarting the Future reveals how these problems arise from a failure to develop the institutions dema...

The discipline of economics is not what it used to be. Over the last few decades, economists have begun a revolutionary reorientation in how we look at the world, and this has major implications for politics, policy, and our everyday lives. For years, conventional economists told us an incomplete story that leaned on the comfortable precision of mathematical abstraction and ignored the complexity of the real world with all of its uncertainties, unknowns, and ongoing evolution.What ...

New Tools for Succeeding GloballyWhy do so many global strategies fail--despite companies' powerful brands and other border-crossing advantages? Because a one-size-fits-all strategy no longer stands a chance.When firms believe in the illusions of a "flat" world and the death of distance, they charge across borders as if the globe were one seamless marketplace. But cross-border differences are larger than we assume. Most economic activity--including trade, r...

What Globalization Now Means for Your BusinessExecutives can no longer base their strategies on the assumption that globalization will continue to advance steadily. But how should they respond to the growing pressures against globalization? And what can businesses do to control their destinies in these times of uncertainty?In The New Global Road Map, Pankaj Ghemawat separates fact from fiction by giving readers a better understanding of the key tre...

Capitalism has been an unprecedented engine of wealth creation for many centuries, leading to sustained productivity gains and long-term growth and lifting an increasing proportion of humanity out of poverty. But its effects, and hence its future, have come increasingly under question: Is capitalism still improving wealth and well-being for the many? Or, is long-term value creation being sacrificed to the pressures of short-termism, with potentially far-reaching consequences for society, t...

Timely, compelling, and certain to be controversial—a deeply researched study that reveals how companies and policy makers are hindering innovation-led growth Conventional wisdom holds that Western economies are on the threshold of fast-and-furious technological development. Fredrik Erixon and Bjorn Weigel refute this idea, bringing together a vast array of data and case studies to tell a very different story. With expertise spanning academia and the business wor...

The scourge of America’s economy isn't the success of the 1 percent—quite the opposite. The real problem is the government’s well-meaning but misguided attempt to reduce the payoffs for success.Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences, which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary...

The role of the state in modern capitalism has gone beyond fixing market failures. Those regions and countries that have succeeded in achieving “smart” innovation-led growth have benefited from long-term visionary “mission-oriented” policies—from putting a man on the moon to tackling societal challenges such as climate change and the wellbeing of an ageing population. This book collects the experience of different types of mission-oriented public institutions around the world, together wit...

Legendary economist Hyman Minsky identified author William H. Janeway as a 'theorist-practitioner' of financial economics; this book is an expression of that double life. Interweaving his unique professional perspective with political and financial history, Janeway narrates the dynamics of the innovation economy from the standpoint of a seasoned practitioner of venture capital, operating on the frontier where innovative technology transforms the market economy. In this fully revised and up...