Building Wealth: The New Rules for Individuals, Companies, and Nations in a Knowledge-Based Economy

Lester C Thurow

Physical

In Circulation

There is no doubt that we are in the middle of a transition to a knowledge-based economy. Breakthrough technologies in microelectronics, biotechnology, new materials, telecommunications, robotics, and computers are fundamentally changing the game of creating wealth. While these new industries are growing explosively, existing industries such as banking and retail are being transformed beyond recognition. As a result, a new global economy is emerging to replace existing national economies. What will it take for individuals, companies, and entire countries to succeed in the new economics of the twenty-first century? Rather than focusing on spending, Lester C. Thurow argues that we must emphasize investment in basic knowledge, education, and infrastructure. Only by committing ourselves to building communal wealth can we maximize opportunities for building personal wealth as well. Building Wealth is an indispensable guide to surviving -- and thriving -- in the economies of the twenty-first century.

What will you learn from this book

  1. Investment Diversification: Thurow likely emphasizes diversifying investments to spread risk. This could involve allocating assets across different sectors, industries, or even geographical regions.

  2. Education and Skill Development: Education and acquiring valuable skills are crucial for long-term wealth creation. Continuous learning and skill enhancement enhance one's earning potential.

  3. Understanding Economic Trends: Keeping abreast of economic trends and cycles is essential. Thurow might discuss the importance of understanding these trends to make informed financial decisions.

  4. Risk Management: Managing risks associated with investments and financial decisions is key. Thurow might stress the importance of assessing and mitigating risks to safeguard wealth.

  5. Long-Term Thinking: Building wealth often requires a long-term perspective. Thurow might advocate for patience and discipline in financial planning and decision-making.

  6. Entrepreneurship: Building businesses and entrepreneurial ventures might be highlighted as a means of creating wealth. Thurow could discuss the rewards and challenges of entrepreneurship.

  7. Global Perspective: In today's interconnected world, understanding global markets and economies could be crucial. Thurow may emphasize the significance of a global outlook for wealth creation.

  8. Asset Allocation and Management: Properly allocating and managing assets, including real estate, stocks, bonds, and other investments, is likely a key focus.

  9. Financial Literacy: Thurow might stress the importance of financial literacy. Understanding concepts like budgeting, saving, investing, and debt management is critical for wealth accumulation.

  10. Social and Economic Policies: The book might touch upon the influence of governmental policies, economic systems, and social factors on wealth creation and distribution.

Language English
ISBN-10 0-88730-952-6
No of pages 313
Font Size Medium
Book Publisher Harper Paperbacks
Published Date 03 Jul 2000

About Author

Author : Lester C Thurow

5 Books

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