THE RISE AND FALL OF AN ECONOMIC EMPIRE by Colin Read ( 9780230297074 )

Item Details

Title:

THE RISE AND FALL OF AN ECONOMIC EMPIRE
WITH LESSONS FOR ASPIRING ECONOMIES

By:

Format:

Electronic book text

List price:	£31.20
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ISBN 10:

0230297072

ISBN 13:

9780230297074

Publisher:

PALGRAVE MACMILLAN

Pub. date:

29 September, 2010

Description:

We have seen many empires come and go. From the Roman Empire to the British Empire, we are now witnessing the decline of the US as a superpower. How do economic innovations foster global economic dominance, and how does the natural evolution of an economic empire eventually bring about its demise and replacement by other economic superpowers?

Synopsis:

While many authors have documented empires maintained through military strength, power derived solely from economic might is a more modern phenomenon. These different sources of power share one important characteristic, though. There is an inevitability to the decline of empires that rest on either foundation. There are also lessons to learn from every empire. Just as earlier empires based on military or colonial power experienced spectacular ascendancies and subsequent declines, modern economic empires are no less fragile. The overextension, overconfidence, and underinvestment that lead to the demise of military or colonial empires have their analogies in economic empires. An economic superpower grows based on its strengths, is fueled by its successes, but declines as its values are transformed and economic arrogance dilutes its hegemonic powers. Colin Read describes the various factors that give rise to economic empires, and documents how these same forces eventually lead to their downfall. By analyzing the successes of each factor and the reasons why each falters, he offers insights into ways to sustain economic relevancy.He also offers lessons to aspiring economies so that they may best leverage and manage their growth and avoid the problems that beset less carefully designed economies. In doing so, Read gives us an interesting and provocative glimpse into the current global dynamic in which the United States, the world's first true economic empire, struggles to maintain its global economic supremacy in the face of a rapidly growing China that shall soon challenge it as the world's largest economy.

Illustrations:

24 figures

Publication:

Imprint:

Palgrave Macmillan

Returns:

Non-returnable

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