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How the West Was Lost
Book

How the West Was Lost

Fifty Years of Economic Folly – and the Stark Choices Ahead

FSG, 2012 подробнее...


Editorial Rating

6

Qualities

  • Controversial
  • Eye Opening
  • Background

Recommendation

Many believe the West will always be on top of the world’s economy, as it has been for the past 500 years. However, if the competition for global economic dominance were an upcoming horse race, according to economist Dambisa Moyo’s pessimistic read, Europe would face long odds, America would be even money and China would be the hot favorite. Moyo explains why she believes the US and other Western countries’ financial fortunes are fading, while the smart money is on China, India and the other “Rising Rest” nations as good bets to come up on the outside. While always neutral about political conclusions, getAbstract recommends Moyo’s well-argued – though sometimes feverish – presentation to those interested in considering various scenarios for the global economy’s future.

Take-Aways

  • National economic dominance depends on three key factors: properly allocated capital, top-quality technology and adaptive, expert labor.
  • The US and other Western powers no longer possess these vital resources in sufficient quantity and quality to maintain their economic supremacy.
  • China leads the “Rising Rest” nations; its colleagues include Brazil, South Africa, Russia, India and some Middle Eastern, South American and Eastern European nations.

About the Author

Dambisa Moyo is an international economist specializing in macroeconomic and global affairs. She is also the author of Dead Aid and appeared on Time’s list of the “100 Most Influential People.”


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