The experiences of Singapore, Finland, and Ireland show how small resource-poor economies, even if peripherally located, can achieve rapid and sustained growth: through a strategy of building quality human capital that attracts technology-intensive FDI and enables national firms to compete in global markets for high-value products and services.
This book shows how small countries use "big" diplomacy to advance national interests and global agendas – from issues of peace and security (the South China Sea and nuclearization in Korea) and human rights (decolonization) to development (landlocked and least developed countries) and environment (hydropower development). Using the case of Laos, it explores how a small landlocked developing state maneuvered among the big players and championed causes of international concern at three of the world’s important global institutions – the United Nations (UN), the Association of Southeast Asian Nations (ASEAN) and the Mekong River Commission (MRC). Recounting the geographical and historical origins behind Laos’ diplomacy, this book traces the journey of the country, surrounded by its five larger neighbors China, Thailand, Vietnam, Myanmar and Cambodia, and influenced by superpower rivalries, from the Cold War to the post-Cold War eras. The book is written from an integrated perspective of a French-educated Lao diplomat with over 40 years of experience in various senior roles in the Lao government, leading major groups and committees at the UN and ASEAN; and the theoretical knowledge and experience of an American-trained Lao political scientist and international civil servant who has worked for the Lao government and the international secretariats of the UN and MRC. These different perspectives bridge not only the theory-practice divide but also the government insider-outsider schism. The book concludes with "seven rules for small state diplomacy" that should prove useful for diplomats, statespersons, policymakers and international civil servants alike. It will also be of interest to scholars and experts in the fields of international relations and foreign policies of Laos, the Mekong and Asia in general.
Nobel-Prize-winning economist Paul Krugman argues that business leaders need to understand the differences between economic policy on the national and international scale and business strategy on the organizational scale. Economists deal with the closed system of a national economy, whereas executives live in the open-system world of business. Moreover, economists know that an economy must be run on the basis of general principles, but businesspeople are forever in search of the particular brilliant strategy. Krugman's article serves to elucidate the world of economics for businesspeople who are so close to it and yet are continually frustrated by what they see. Since 1922, Harvard Business Review has been a leading source of breakthrough management ideas-many of which still speak to and influence us today. The Harvard Business Review Classics series now offers readers the opportunity to make these seminal pieces a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world-and will have a direct impact on you today and for years to come.
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
Britain is abandoning its cities and sprawling over green fields. Crime, congestion and inequality are getting worse. Is there an alternative?After two years' work for the Urban Task Force, architect Richard Rogers and Professor Anne Power set out the problems of cities and propose radical solutions. Suburban sprawl, over-use of energy, environmental damage, depleted inner cities and marginalised communities will force us to waste less and live more compactly. We need cites for a small country.This book follows the celebrated Cities for a Small Planet, weaving together architectural and social perspectives. Future generations will inherit our cities and land: we must make them work.
Only a dramatic, imaginatively crafted intervention - a massive redistribution programme managed by the private sector, far-reaching policy changes in schooling, housing and health, and better, disciplined governance - will deliver the genuine liberation South Africa's still-poor millions expected from the 1994 settlement. Without it, without the real promise of a free, meritocratic society, South Africa will flounder and fail as corruption, crime, social decay, hopelessness and anger engulf society. This is the compelling thesis of Hlumelo Biko's hard-hitting, thoughtful analysis of South Africa's past, present and future, a sobering assessment of where we stand today, and where we need to go. At once unnervingly candid and inspiring, The Great African Society demolishes the complacent optimism that underpins much soft thinking about South Africa's future and places at the service of public debate practical, achievable objectives for business, government and civil society. South Africa's challenge, the book argues, is to act now to avoid the mounting threat of revolt and decline that would devalue every political and economic achievement of the past decade-and-a-half and leave Nelson Mandela's feted rainbow nation staring decrepitude in the face. No debate from here on about the South African future can be taken seriously without weighing Biko's insights and his warnings. The Great African Society is vividly moral in its intentions, but sober and unsentimental in examining political and economic imperatives. It is guaranteed to make the reader sit up and take stock afresh.
Explores globalization, its opportunities for individual empowerment, its achievements at lifting millions out of poverty, and its drawbacks--environmental, social, and political.
#1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.
