BOOKS: STOP THE WORLD

SAVVY ECONOMIC ANALYSIS, BUT NO REAL-LIFE SOLUTIONS

Following the collapse of communism, the workers of the world, from Polish shipyard electricians to American phone-company executives, are at last united, brought together by a shared anxiety about how they will earn a living. They have reason to worry. Unfettered competition, no longer constrained by political borders, now ruthlessly wipes out slow-footed firms. In order to survive, companies give their first allegiance to efficiency and profits, not to their employees or the communities in which they live and work. In the long run, more wealth is created for everyone, but that is cold comfort for the skilled industrial worker or...

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