America's position as the source of much of the world's global innovation has been the foundation of its economic vitality and military power in the post-war. No longer is U.S. pre-eminence assured as a place to turn laboratory discoveries into new commercial products, companies, industries, and high-paying jobs. As the pillars of the U.S. innovation system erode through wavering financial and policy support, the rest of the world is racing to improve its capacity to generate new technologies and products, attract and grow existing industries, and build positions in the high technology industries of tomorrow. Rising to the Challenge: U.S. Innovation Policy for Global Economy emphasizes the importance of sustaining global leadership in the commercialization of innovation which is vital to America's security, its role as a world power, and the welfare of its people. The second decade of the 21st century is witnessing the rise of a global competition that is based on innovative advantage. To this end, both advanced as well as emerging nations are developing and pursuing policies and programs that are in many cases less constrained by ideological limitations on the role of government and the concept of free market economics. The rapid transformation of the global innovation landscape presents tremendous challenges as well as important opportunities for the United States. This report argues that far more vigorous attention be paid to capturing the outputs of innovation - the commercial products, the industries, and particularly high-quality jobs to restore full employment. America's economic and national security future depends on our succeeding in this endeavor.

The most disruptive change to the world economy over the past half century has been the rise of so-called emerging economies, particularly the large developing markets of China and India. While initially appealing to Western business as lower cost production locations, these economies are now amongst the world’s leading markets for the sale of goods and services, as well as a growing competitive challenge to established businesses. This book examines the competitive challenge presented by China and India as they increasingly influence international business activities. It considers their rise, distinctive characteristics, and role in the contemporary world economy. The attractions and challenges of doing business in emerging economies are fully discussed and the future position of the large emerging economies critically evaluated here. A key feature of the book is a discussion of the competitive threat presented by the rapid growth of emerging market multinationals as they aspire to catch-up with, and even surpass, developed market multinationals. Theory and practice are combined in this text with insightful illustrations and examples from a range of industries and firms, as well as current debates including the utility of the BRIC concept, the growing power of Asia, the future of globalisation, and trade wars. As such, the book offers an insightful perspective for students of international business, international economics, development studies and globalisation.

This work focuses on the economic challenges the American economy has met during the post-World War II era, and on the new challenges--represented notably by the competing economies of Japan, Germany, and the entire European union--that confront it as the twenty-first century approaches. The book shows how the transformations brought about by international competition fit the long-term processes of economic growth and change with respect to structural mutations, technological development, the role of the government, and the evolution of government-business relations. Nicholas Spulber presents a detailed critique of the thesis alleging that the American economy had experienced some kind of decline, and argues that the economy will continue to move forward energetically and successfully if growth and change are primarily left to emerge from the impulses and incentives of the private economy.

Of the developing nations of East Asia, Indonesia came relatively late to liberalizing its trade and investment regime. Only in the mid-1980s, when it was clear that oil revenues alone would not suffice and that a new engine of growth was needed, did the country's government swing behind a systematic deregulation effort. Tariffs were cut, non-tariff barriers were lowered, foreign investment restrictions were reduced, export promotion incentives were enhanced, and various financial sector regulations were eased. All this combined to spark a labor-intensive export-led economic boom that was accompanied by an expansion in wages and employment and a boost in productivity. This book documents how Indonesia truly became part of the East Asian miracle story starting in the mid-1980s. Destined to become a leading case study of export-led development in Indonesia, this book grew out of a World Bank/Indonesian Economic Society Symposium held in Jakarta. There was, however, a parallel story as well, of crony capitalism and weak governance, that led to the financial and political crisis of 1997-98. These aspects were reflected in continued protection of certain sectors where the cronies were active, in restrictions on domestic trade and competition that were left in place for their benefit, and in financial manipulations that were conducted to their advantage. These aspects are noted as well in the book and pulled together in the concluding chapter, which takes the story up through the crisis years to the present.

How Wall Street concocted a more volatile and dangerous capitalism The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan’s vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the “real” economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor—with the support of an increasingly authoritarian state.