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Prosperity: The Coming 20-Year Boom and What It Means to You

Overview

Prosperity tells stories about how the lives of the middle class are changing for the better. These are the people who are still being wrongly consigned by prophets of doom and gloom to the sidelines of the new high-tech economy. These stories bring together the three trends that will be the basis for a new, middle-class prosperity: our $2 trillion investment in computer and communications technology will finally pay off in faster productivity growth, a more rapidly growing economy, and rising living standards; ...
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1998-03-31 Hardcover First Edition New First Edition. First Print-Full Number Line. Excellent condition. New-unused and unread. Faint shelf wear.

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Overview

Prosperity tells stories about how the lives of the middle class are changing for the better. These are the people who are still being wrongly consigned by prophets of doom and gloom to the sidelines of the new high-tech economy. These stories bring together the three trends that will be the basis for a new, middle-class prosperity: our $2 trillion investment in computer and communications technology will finally pay off in faster productivity growth, a more rapidly growing economy, and rising living standards; community colleges are helping millions of Americans move from $7-an-hour jobs to $17-an-hour jobs. This unheralded change in U.S. education will help reverse the forces that have widened the chasm between more-educated and less-educated workers; and globalization -- much maligned by pundits on the left and the right - will create new and better jobs by U.S. companies that export to developing countries and by foreign companies that build plants and offices in the United States.
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Editorial Reviews

Kirkus Reviews
The American middle class has remained economically stagnant for the past 25 years, despite endless prophecies during this time that computer technology would bring a new age of productivity and prosperity; the authors, both with the Wall Street JournalComputers have not, so far, created huge leaps in productivity because that is not the way technology works, say the authors; it is not a "quick fix" (General Motors spent billions of dollars in the 1980s "robotizing" its production, and promptly lost about the same amount of money). Just as it took decades for producers, both managers and workers, to learn how to adapt the new technology of electricity to their work processes in the early part of this century, the same is true with computers today. New technology must still be refined (computers for the most part have been maddeningly and unnecessarily complex), and the creative integration of computers into the processes of producing goods and services has yet to fully occur. It has taken time to realize that computers will not replace people but, more significantly, allow them to do more. The authors carefully analyze signs that computers are finally ready to create a burst of sustained productivity. At the same time, the middle class will share in this productivity as it reeducates itself to use and help refine this new technology on the job. Finally, the forces of economic globalizationþdislocating as these forces have beenþare now creating in the US a net increase not only in jobs but in better-paying jobs.

Davis and Wessel's arguments are not always new and not always convincing, yet they bring tothis work elements often missing from popular writing on the technological future: solid reporting, detailed research, and a regard for historical context.

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Product Details

  • ISBN-13: 9780812928198
  • Publisher: Crown Publishing Group
  • Publication date: 3/31/1998
  • Edition description: 1 ED
  • Edition number: 1
  • Pages: 320
  • Product dimensions: 6.54 (w) x 9.66 (h) x 1.17 (d)

Meet the Author

Bob Davis, 47, is a senior special writer for The Wall Street Journal. He has covered the emergence of two of the most powerful forces shaping the late twentieth century: The rise of microprocessor technology and the emergence of the global economy.

        

As a reporter, he takes what he considers an "everyman" approach. Don't

count on him to write a story about how to run a complex computer system.

Rather, look for him to try to figure out how overly complex computers affect most

Americans and industries.

In his 15 years as a Wall Street Journal reporter, Davis has written abut

the rise and fall of computer pioneers, the resurrection of the National

Aeronautics and Space Administration from the disaster of the Challenger

explosion, and the attempts by nuclear weapons makers to use military technology for civilian purposes -- beating plutonium into plowshares, as it were.

        

Most recently, he has written about the effects of global integration on

average Americans. He's been to the Carolinas to see the death and birth of

trade-related industries, to the border region of Mexico to gauge the

consequences of cheap labor, and to Asia to assess the tumultuous fall from

grace of nations once hailed as "miracles."

      

Davis was born in Brooklyn, raised in Queens and lived for six years in

Oneonta, N.Y. where he started a newspaper, the Susquehanna Sentinel. He guided the Sentinel for a year (into bankruptcy) and then restructured the newspaper company into a successful printing business. (That is, he escapedwith his shirt- a life-shaping event.) He has won a passel of awards for his coverage of science and space, and was nominated for a Pulitzer for his coverage of the North American Free Trade Agreement. (He lost.)

    

Now he lives with his wife Debbie and his children, Daniel and Joanna, in

Washington D.C. His hobbies are reading, writing, and keeping up with his

children.

          

David Wessel, 44 years old, is The Wall Street Journal's chief economic correspondent in Washington. His responsibilities include overseeing coverage of the federal budget, domestic and international economic policy and the Federal Reserve, but he defines his beat more broadly as covering the American standard of living.

          

He joined The Journal's Boston bureau in 1984. He was offered his present beat in Washington on the day the stock market crashed in October 1987; he denies any connection between the two events and is prepared to testify to that before any grand jury.

          

Before joining The Journal, he worked for the Boston Globe, the Hartford (Conn.) Courant and theMiddletown (Conn.) Press. He shared a Pulitzer Prize in 1984 for a series of Boston Globe stories on the persistence of racism in Boston. In 1996, he and several other Wall Street Journal reporters shared the InterAmerican Press Association award for spot-news coverage for their stories on Mexico's economic and financial crisis.

            

The Washingtonian magazine included David Wessel on its August 1997 list of the 50 top journalists in Washington, pleasing his parents no end. In

June 1995, the same magazine said, "David Wessel, the Wall Street Journal's lead economic reporter, commands remarkable respect. Officials praised his accuracy, his explanatory bent, and his preference for focusing on substance not process."

          

A native of New Haven, Conn., David graduated from Haverford College

with honors in economics. He also spent a year at Columbia University as a

Walter F. Bagehot Fellow in Business & Economics Journalism.

      

David and his wife, Naomi, associate director of the American Bar

Association's Commission on Legal Problems of the Elderly, live in Washington,

D.C., with their two children, Julia and Benjamin. He is a member of the board

of trustees of Temple Sinai and of the research advisory board of the Committee for Economic Development.

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