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Turbo-Capitalism: Winners and Losers in the Global Economy Paperback – February 16, 2000
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While Luttwak's interest is more global, he offers some domestic examples to illustrate the effects of capitalism unleashed. He points to Boeing, which suffered from massive layoffs in the 1990s, even as aircraft orders soared. And he ridicules the notion that high-tech will come to the rescue with thousands of new jobs for downsized blue-collar and white-collar workers, calling these hopes "The Microsoft Mirage." A sweeping, sometimes densely written treatise, Turbo-Capitalism raises important questions for policymakers and business leaders. --Dan Ring --This text refers to the Hardcover edition.
From Publishers Weekly
Copyright 1999 Reed Business Information, Inc. --This text refers to the Hardcover edition.
Top Customer Reviews
What I did not expected was such an extremly good insight of the situation of Venezia, my hometown, which is usually not understand even from other Italian living nearby!! Luttwak really surprised me. I would like to know from other readers if his insight of Japan and Russia was good and reliable as the one of Italy (and Continental Europe in general).
One small defect of this book is that the bibliography is not really that satisfing, albeit the idea to give the url of the economical tables is great.
As a final point I have to say that I was strocken by the fact that Luttwak does not draw a clear conclusion about the fate of "turbo capitalism"; except for the statement that, as it happens to all human things, it will pass. Fact of which I am personally convinced too, point is how it will pass.
I hope the author will clarify his toughts about it in a future work which, hopefully, will contain a more extented bibliography.
Luttwak also looks at how certain market inefficiencies, like having too many employees, family businesses and fewer working hours actually helped make the 'capitalist' system more sustainable for the vast majority - or for what used to be the middle class until a decade ago. Turbo capitalism has accelerated and accentuated class divides, reducing the influence and size of the middle class.Read more ›
Fortunately, he believes that turbo capitalism will pass, but, for me, not immediately.
For the reasons, read for instance the excellent books on US politics by Gore Vidal.
One of Luttwak's cures to reverse the actual situation is control by the government, but if the government is controlled by the few (private corporations and their main individual shareholders), the proceeds of capitalismn will continue to flow to the few.
As a matter of fact, he is severe for the actual governmental policies, like monetarism (it devalues labor rather than money); like the conversion of all institutions - hospitals etc. - into profit-maximizing corporations, or the hypocritical war on drugs.
I quote: "Even the fanciest illegal substances hardly make a dent in the budget of many users, some of whom are multi-millionaires ... The ruined drug addict on his way to a penniless death in a sordid alley is mostly myth: if it were not so ... Colombian drug lords would have to be content with tenements and bicycles instead of palatial mansions and executive jets." (p.210)
His conclusion is obvious: what is needed is a government that governs for the many and distributes more equally than now the proceeds of capitalism over the whole population, not only through wages, but also through better social welfare.
But this is only possible via the democratic process.
This book contains also excellent analyses of, among others, the causes of World War I, mercantilism or the situation in Russia after the fall of the Berlin wall.
An important work. Not to be missed.
Most Recent Customer Reviews
what do the numbers mean? what are the realities and outcomes of aspiring for some numbers to go up and other numbers to go down? Here they are. Read morePublished on September 7, 2008 by Ryan Costa
I have always felt that it wouldn't be so difficult to get most people to agree to a basic proposition: just as fish need water, people need a culture to live in. Read morePublished on December 11, 2007 by Peter P. Fuchs
What happens when the pursuit of wealth becomes such a dominant force in the world that all moral, ethical, and societal values become secondary? Read morePublished on June 16, 2002
While Edward Luttwak bemoans what he (correctly) sees as an onrushing train of "Turbo-Capitalism" - the worldwide trend toward unregulated markets, free flow of capital... Read morePublished on October 10, 2000
First, I agree that "Europeans spend more time with their mistresses" to be a ridiculous pseudo-fact. Read morePublished on October 6, 2000 by John E. Mercurio
I have read many books from this writer and up to now have always though him very good. But this book is just a confused mess of what he thinks is not right. Read morePublished on July 25, 2000
I bought this book because I thought it would be interesting to see critical comments of an American author of what people usually call "globalization" or "new... Read morePublished on March 31, 2000 by Joerg Colberg