Business Books: 'World 3.0'
World 3.0
Global Prosperity and How to Achieve It
By Pankaj Ghemawat
Harvard Business Review Press $29.95
Globalization, as some see it, is just another name for transnational American business and military hegemony. But global strategy expert Pankaj Ghemawat doesn't share that view. After citing examples of America's failures to achieve its military objectives in recent years, Ghemawat turns to supposed American business hegemony. "In 1971, 59 of the [capitalist] world's 100 largest manufacturing corporations were based in the United States and they accounted for 66 percent of the top one hundred's sales. ... By 2010, only 32 of the world's one hundred largest companies were American, and they accounted for only 34 percent of total sales," Ghemawat says. Real globalization has occurred already, he argues. His view, the "World 3.0" perspective, is that greater world and local prosperity can be achieved through more economic integration along with careful regulation.
-- Cecil Johnson, special to the Star-Telegram