TITLE

The Work of Nations

AUTHOR(S)
Reich, Robert B.
PUB. DATE
January 1991
SOURCE
2020 Vision - Business Book Summaries;1991, Vol. 1 Issue 1, p1
SOURCE TYPE
Book Summary
DOC. TYPE
Book summary
ABSTRACT
In The Work of Nations, Reich uses the concept of borderless nations to draw a sharp distinction between societies and economies. He contends that corporations and investors are becoming disconnected from their home nations, scouring the world for opportunities. Given this reality, he postulates that continued exclusive reliance on conventional economics and economic policy invites abuse and inefficiency. For Reich, the proper response is to organize the market in ways that motivate analysts to discover the means of helping society while inflicting the least amount of harm. The Sherman Antitrust Act of 1890, which prohibited price-fixing and high tariffs on imported raw materials and supplies, prompted America’s first great merger boom. Between 1898 and 1904, approximately one-third of America’s manufacturing assets were consolidated into 318 giant companies. Large size and centralized management permitted even greater control over markets and sources of supply, and greater scale efficiencies. America’s core corporation was born.To improve the economic position of the bottom four-fifths of American society requires that the fortunate fifth share its wealth and invest in the wealth-creating capacities of the others. The emerging dilemma for the U.S. and other nations is that as the top becomes increasingly linked to the global economy, it has less of a stake in the performance and potential of its less fortunate compatriots. Because the nationalism founded on the practical necessities of economic interdependence within borders and security against foreigners is vanishing, the opportunity exists for this to redefine who it is, why it has joined together, and what its citizens owe each other and other inhabitants of the world. The Work of Nations is a critical work of synthesis and interpretation, drawing on a wide range of studies surveys, and analyses. It is not intended to be a definitive guide, but merely a suggestion of the realms of policy in which such solutions can be found.
ACCESSION #
16898521

 

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