The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy [Hardcover]

Philip Auerswald (Author)

Book Description

Publication Date: September 20, 2012

Over the course of the next 25 years, it is estimated that nearly eighty percent of global economic growth will originate in previously poor places. Large countries with burgeoning populations such as China, India, and Brazil have economies that have exponentially grown over the last few decades, and projections indicate that they will continue to do so for some time to come. While the challenge that this rise of the rest poses to the United States' current economic hegemony has risen concern amongst economists and businesses. In The Coming Prosperity, Philip Auerswald argues that the introduction of the majority of the world's population into the global economy should be considered a source of opportunity. As technology spreads and communication between populations improves, more people will have a greater opportunity to create economic value for themselves and society than ever before. Auerswald asserts that the success of integrating developing populations and societies into the global economy lies with the entrepreneur. Inventors, innovators, and the creators of new ventures form the basis for future economic prosperity, and in the developing world, where new technologies and global knowledge networks are being introduced, the opportunities afforded to entrepreneurs are rapidly becoming available. Auerswald links personal, social entrepreneurship narratives with a more global movement, in which developing economies are not threats to the world's stability, but rather unique opportunities to discover new pathways toward progress and the coming prosperity.

Editorial Reviews

Review

President Bill Clinton, Founder of the William J. Clinton Foundation and 42nd president of the United States:
"Philip Auerswald shows the role that innovators must play if we are to create 'The Coming Prosperity.' In this important book, he reminds us that challenging the status quo is the inescapable first step toward building the future of our dreams."

The Wall Street Journal:
"Auerswald...digs down to show the many ways in which progress depends on creativity, not to mention persistence and luck...a lively writing style, and the analysis is lightened with personal anecdotes and pop-culture references."

Richard Florida, Director, Martin Prosperity Institute, Rotman School of Management, University of Toronto, Senior Editor at The Atlantic, and author of The Rise of the Creative Class:
"If you want to understand where and how the economy will recover, read this book. The Coming Prosperity illuminates our current historical moment and shines a light on the future we can have. Philip Auerswald weaves together a rich tapestry of insights that underpin a desperately needed 'reset' in our policies, institutions, economy and society."

Umair Haque, author of The New Capitalist Manifesto: Building a Disruptively Better Business
"The brilliant book you're holding isn't just a chronicle of necessary economic transformation -- it's a field guide to being a builder, an architect, a prime mover of the next global economy. One that's not just optimized for the industrial age pursuit of more, bigger, faster, cheaper, but for fundamentally better in terms that matter to humans. So if your goal might be summarized thus -- 'Ignore the haters. Listen to what matters. Topple the status quo' -- then fasten your seatbelt, take a deep breath, and get ready to create the future."

Jacqueline Novogratz, founder and CEO of Acumen Fund:
"The Coming Prosperity is a refreshingly optimistic look at the role of entrepreneurship in building a more just and interconnected world. Auerswald is not only an economist, but also a real storyteller-this book is a relevant and engaging read for all of us interested in creating a more prosperous planet."

Anne-Marie Slaughter, Bert G. Kerstetter '66 University Professor of Politics and International Affairs at Princeton University:
"Philip Auerswald has given us a tonic for troubled times, one carefully calibrated to meet every skeptic's objection. His message is one of entrepreneurship, collaboration, and connection, unlocking the creative talent of billions all over the world. The Coming Prosperity is a compelling read."

About the Author

Philip Auerswald is an Associate Professor of Public Policy at George Mason University and a Senior Fellow at the Kauffman Foundation. He is also the Co-founder and Co-editor of Innovations, a quarterly journal about entrepreneurial solutions to global challenges.

Product Details

• Hardcover: 272 pages
• Publisher: Oxford University Press, USA (September 20, 2012)
• Language: English
• ISBN-10: 0199795177
• ISBN-13: 978-0199795178
• Product Dimensions: 6.3 x 0.8 x 9.3 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (11 customer reviews)
• Amazon Best Sellers Rank: #337,522 in Books (See Top 100 in Books)

More About the Author

Philip Auerswald is an Associate Professor of Public Policy at George Mason University and a Senior Fellow at the Kauffman Foundation. He is also the co-founder and co-editor of Innovations, a quarterly journal about entrepreneurial solutions to global challenges.

Most Helpful Customer Reviews

6 of 6 people found the following review helpful

5.0 out of 5 stars Entrepreneurship - Let's get the show on the road. March 30, 2012

By jmbadlam

Format:Hardcover|Amazon Verified Purchase

The global economy is at a crossroads. In Europe, financial melees have enthralled governments and threatened long-term economic vitality. Washington is also struggling. Bipartisan gridlock, a Congress that can't seem to agree on anything, and policies that many argue have fallen short in resuscitating the economy have shaken an already anxious populace.

Despite the tremendous crisis the world has faced, the global conversation has failed to focus on the one thing that can accelerate the changes necessary to solve our problems: entrepreneurship. This is the main theme of Phil Auerswald's convincing piece of literature on the topic. In "The Coming Prosperity", Auerswald illustrates that the interconnectedness of the global economy, the availability of cheap and user-friendly technologies, and growth of knowledge capital are driving the new wave of global entrepreneurs. Around the world, people are working hard to turn their ideas into innovations, and create products as well as services that benefit communities as a whole.

Recently, the 112th Congress did actually do something, passing the Jumpstart Our Business Startup (JOBS) Act making it easier for start-ups to raise funds, hire employees, and go public. President Obama is expected to sign the measure soon. This is certainly a welcome sign, but it's far from representative of all that needs to happen in addressing our greatest challenges. There absolutely needs to be a fuller, more robust, and dedicated effort to bring entrepreneurship to the mainstream and keep it there.

Policies can only go so far in creating an environment that enables entrepreneurs to thrive. Entrepreneurs create new ways of directing nature and change how we live our lives. They find new ways of assembling and coordinating the interactions between people. So many amazing accomplishments go completely unnoticed. There must be a sea change and a cultural adjustment as to how we promote the contributions of entrepreneurs to our overall well-being. Phil Auerswald's book is a great starting point in building the discussion. We just need to get the show on the road.

4 of 4 people found the following review helpful

5.0 out of 5 stars Academic Busts Out Wonderful Insight June 23, 2012

By ARB

Format:Hardcover

Lots of pleasant surprises in this book. The first is that an academic can write so engagingly and accessibly. Auerswald lets his fun personality show in his writing style, and yet the message remains as serious as it is optimistic, which is of course another surprise.

And so is the breadth it covers in relatively few pages. This book reflects years of research and thought. One can imaging a writer needing an entire career to write this but thank goodness Auerswald wrote it up when he did, so the rest of us can get a better understanding of the sort of technological tipping point we have reached. His point -- that technology, especially personal communications, has finally trickled down far enough that most of the several billion earthlings are now empowered to act on their entrepreneurial ideas -- might seem overly rosy but Auerswald backs it up with research and intelligent analysis. Yet another surprise is that the research and analysis are perhaps more persuasive than one might expect from an academic precisely because they do not come across as strictly academic. (To be sure, the thinking reflects an implicit critique of academia -- that it is perhaps too insular and set into departments to keep up with the rapidly increasing pace of the generation of new knowledge.)

I hope Auerswald is able to push the messages in his book into other channels of presentation because in many ways the message is more dynamic than a paper and ink book can do justice, and it surely begs to be updated and discussed. Frequently.

2 of 2 people found the following review helpful

5.0 out of 5 stars Powerful positive predictions raise hope and blast those recessionary blues July 26, 2012

By Rolf Dobelli HALL OF FAMETOP 1000 REVIEWER

Format:Hardcover

This iconoclastic, deeply informed book by economist Philip E. Auerswald contests conventional pessimistic thinking on some big issues - from recession to global warming - facing humanity in general and business and government in particular. He says the solutions lie in the millions of people who are rising up from economic exclusion to become entrepreneurs. Writing - sometimes with a dash of humor - from the unrepentant point of view of an economist, Auerswald uses a rigorous theoretical economic framework and compelling case histories to set his book apart from other arguments for confidence about the future. He combines scholarship about everyone from Adam Smith to Joseph Schumpeter with personal anecdotes about his development and the evolution of his thinking about the future. Occasionally, the personal jars a little with the grand theory. Auerswald is the first to note his book's obvious flaw: the lack of a detailed plan to achieve the rosy outcomes he predicts. A more disciplined focus and fewer argumentative swerves might have paid dividends. He offers an approach to solving intractable problems, rather than the solution itself, but getAbstract finds his realistic reticence and his optimism worthy of respect.