Lester Thurow lecture
The Economic Game of Our Era: U.S. Dominance Approaching to the 21st century, world economy becomes more and more global.In today's life, several parts of an item can be made in different countries and unified to produce an output. Realize a laptop whose processor is made in U.S, by Intel, whose screen is coming from Japan, Toshiba, and whose other various parts are coming either from Taiwan or from Korea. Lester C. Thurow, a professor of economics and management at the M.I.T, and the writer of the book "Building Wealth", considers this era as being the third industrial revolution. He claims that this one differs from the former two industrial revolutions, in a way that the first two revolutions were based on the capital and land. However, the third revolution is based on the technological improvements such as computers, robots etc., and knowledge. In the second revolution that created national economy, the main idea was the "German Systematic Industrial Research", research of land and capital. On the other hand, electricity that was invented during this era, created the modern life. The third one has created global economy. In each industrial revolution there had been a dominant country
in the industrial world originates from country's generic structure and ability to balance control and chaos side. S become the best in the industrial world and what are the evidences of this strong dominance? . Additionally, when it comes to playing in a knowledge-based economy, U. For instance, in 1981 AT&T was nearly breaking and in the 1984, the company fired more than five hundred thousand people in order to cut its excessive money flow. Because country's productivity can supply the willing of society. Not only did those two generic structure of the country made U. technology was not suppressed by order. Of course, the reason is not a new-discovered gold reserve but the technological improvements.
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