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The zero-sum solution : building a world-class American economy / Lester C. Thurow.

By: Thurow, Lester C.
Material type: TextTextPublisher: New York : Simon and Schuster, c1985Description: 414 p. ; 24 cm.ISBN: 0671552325; 9780671552329.Subject(s): United States -- Economic conditions -- 1981-2001 | United States -- Economic policy -- 1981-1993Additional physical formats: Online version:: Zero-sum solution.DDC classification: 338.973 LOC classification: HC106.8 | .T5 1985Other classification: 83.33 | 83.32
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Item type Current location Call number Status Date due Barcode
Book University of Texas At Tyler
Stacks - 3rd Floor
HC106.8 .T5 1985 (Browse shelf) Available 0000100029404
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HC106.8 .L48 1991 American challenges : HC106.8 .R42 1982 The Reagan experiment : HC106.8 .S75 1986 The triumph of politics : HC106.8 .T5 1985 The zero-sum solution : HC106.82 .C69 1999B Myths of rich and poor : HC106.82 .K87 1999 Everything for sale : HC106.82 .L4 1998 Leading economic controversies of 1998 /

Includes bibliographical references (p. 387-400) and index.

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Thurow (MIT) asserts that the US has lost its economic advantage in international competition and is in danger of becoming noncompetitive. He concedes that Reagan's program has enjoyed a measure of short-term success but predicts its long-run failure. In this book-length recommendation to the Democratic party Thurow outlines the program necessary to return the US economy to world-class status. The Japanese have been doing well, so Thurow recommends that we follow their industrial policy (rewarding economic winners instead of subsidizing losers); their wage and employment policy of economy-wide wage bargaining and permanent employment with fluctuating bonuses; and their strategy of building plant capacity before demand is realized in promising export industries. Thurow would eliminate the corporate income tax and introduce a value-added tax and a stiff gasoline tax, increasing taxes on consumption. Merchant banks would be allowed to own stocks once again. The current system of floating international exchange rates would be replaced with a managed float controlled by the major nations. Democrats are advised to adopt a macroeconomic program based on a federal surplus (tax revenues exceeding federal spending) and a loose monetary policy (low interest rates). Thurow admits that his program is politically unrealistic at the moment but is optimistic that it will become acceptable. In The Zero-Sum Society (1980), Thurow described the American economic problem. Now he delivers the painful prescription for change. The book is filled with statistics, yet it is gracefully written. Of interest to academic as well as general readers.-R.T. Averitt, Smith College

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