Unsustainable: How Economic Dogma is Destroying American Prosperity [Paperback]

Eamonn Fingleton (Author)

Book Description

Series: Nation Books | Publication Date: October 7, 2003

When financial journalist Eamonn Fingleton anticipated the meltdown of the New Economy in the late nineties, his predictions were dismissed by mainstream economic writers as “farfetched.” Now, with the New Economy in ruins and America mired in recession, Fingleton’s avowedly contrarian take on mainstream economic thinking is all the more urgent. Written in clear, lucid prose that renders the complexity of the world economy clear to the general reader, Unsustainable is a masterly survey of how the U.S. economy’s turn from manufacturing to a more service-based, “postindustrial” economy—based on finance, entertainment, and computer software—has been an unmitigated disaster for working- and middleclass America and threatens the long-term viability of the U.S. economy. Taking on free market ideologues like Thomas Friedman, Fingelton shows how those who claim that a global service economy is the key to America’s salvation are living in a fool’s paradise. Completely revised and updated, this timely contribution is an indispensable survey of American's economic downturn.

Editorial Reviews

Review

"In his new book about why manufacturing, not the information economy, is the key to future prosperity, Eamonn Fingleton exposes so many hypes and punctures so many myths . . . [a] powerful critique of the conventional party line."

Product Details

• Paperback: 224 pages
• Publisher: Nation Books; Rev Sub edition (October 7, 2003)
• Language: English
• ISBN-10: 1560255145
• ISBN-13: 978-1560255147
• Product Dimensions: 8.2 x 5.6 x 0.8 inches
• Shipping Weight: 12.2 ounces
• Average Customer Review: 3.7 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #839,288 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

20 of 22 people found the following review helpful:

5.0 out of 5 stars An urgent wake-up call to America, November 5, 2003

By 

M. McDonald - See all my reviews
(REAL NAME)   

This review is from: Unsustainable: How Economic Dogma is Destroying American Prosperity (Paperback)

A brilliant look at the looming economic crisis facing America, "Unsustainable" is an important wake-up call for Americans.

Fingleton has done a fantastic job of explaining why America's titanic, soaring trade deficits cannot be sustained forever and how this country is increasingly dependent on oceans of foreign capital.

It's difficult for me to fathom how any clear-minded thinking adult can read this powerful book and not be deepy worried about the future of America.

4 of 4 people found the following review helpful:

4.0 out of 5 stars A Gaijin that understands......, July 7, 2006

By 

Nichibeiken (Silicon Valley) - See all my reviews

This review is from: Unsustainable: How Economic Dogma is Destroying American Prosperity (Paperback)

This is a good book following the same premises as earlier works. It amazes me the scorn Eamonn has recieved from naive reviewers who clearly have limited knowledge of Japanese business approaches and government practices, let alone U.S. hard industry facts.......The U.S and Japan economic drivers vary greatly as they measure themselves quite differntly despite the attempts of most so called western experts trying to interpret the strengths of the japanese economy....I suppose these reviewers dont consider the growing japan trade deficit a problem either, which by the way is less than China's..The key US/Japan differences: Government models. Advanced manufacturing and a flexible pro-business government were cornerstones for Americas rise to power and leadership...japan is now more effective in these areas than the U.S with respect to sustaining key industries....No nation has ever lead the world w/o a strong manufacturing base, period...we are clearly in decline in this area, and U.S. politicians, business leaders etc., fool the uneducated mainstraim with explainations like wage issues and outsourcing when the failure or political inability to invest in large capital costs for U.S. factories and retooling are of primary issue, which REMOVES the key high wage jobs from our middle class. Many of our industries are now hollowed out with key outsourcing dependencies forcing much smaller margins than our competitors, and weakening any prior political clout...Dont believe me...ask Westinghouse, or any U.S. LCD firm what percentage of the $20B LCD market they own, and what they expect in the future...afterall, Westinghouse developed LCD technology (answer: close to zero)....Advanced Manufacturing prowress has always been an economic weapon. The lack therof has splintered to become larger issues in the economy, and product development areas, as well as national security vulnerabilities..... Alexander Hamilton would role in his grave if he were alive today. And he would certainly work closely with Eamonn to fix our mess if its not too late already..

4 of 4 people found the following review helpful:

5.0 out of 5 stars Fingleton's track record has held up well, May 17, 2006

By 

J. Fallows - See all my reviews
(REAL NAME)   

This review is from: Unsustainable: How Economic Dogma is Destroying American Prosperity (Paperback)

The two "negative" reviews of this book are peculiar. This is the paperback version of a hardcover book, published with a different title -- not an uncommon practice in publishing. The complaint of the reviewers is that the contents are the same as the hardcover original! Well, yes, that's the point of a reprint.

More substantively, the author has earned a hearing through his decades-long reporting from Japan and his stubborn, well-documented contrarian outlook. For instance, he shows beyond question that during the long years of Japan's "collapse," its advanced manufacturing sector continued to grow -- in technological sophistication, and in world market share. Judge for yourself after reading, but look past the negative reviews. DISCLOSURE: I am a friend of the author's but am writing because I feel he deserves a hearing.