The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy

The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy

The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy

The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy

Synopsis

Ours is the most dynamic era in human history. The benefits of four centuries of technological and organizational change are at last reaching a previously excluded global majority. This transformation will create large-scale opportunities in richer countries like the United States just as it has in poorer countries now in the ascent.

In The Coming Prosperity, Philip E. Auerswald argues that it is time to overcome the outdated narratives of fear that dominate public discourse and to grasp the powerful momentum of progress. Acknowledging the gravity of today's greatest global challenges-like climate change, water scarcity, and rapid urbanization-Auerswald emphasizes that the choices we make today will determine the extent and reach of the coming prosperity. To make the most of this epochal transition, he writes, the key is entrepreneurship. Entrepreneurs introduce new products and services, expand the range of global knowledge networks, and, most importantly, challenge established business interests, maintaining the vitality of mature capitalist economies and enhancing the viability of emerging ones. Auerswald frames narratives of inspiring entrepreneurs within the sweep of human history. The book's deft analysis of economic trends is enlivened by stories of entrepreneurs making an outsize difference in their communities and the world-people like Karim Khoja, who led the creation of the first mobile phone company in Afghanistan; Leila Janah, who is bringing digital-age opportunity to talented people trapped in refugee camps; and Victoria Hale, whose non-profit pharmaceutical company turned an orphan drug into a cure for black fever.

Engagingly written and bracingly realistic about the prospects of our historical moment,The Coming Prosperitydisarms the current narratives of fear and brings to light the vast new opportunities in the expanding global economy.

Excerpt

The prevailing world depression, the enormous anomaly of
unemployment in a world full of wants, the disastrous mistakes
we have made, blind us to what is going on under the surface—
to the true interpretation of the trend of things.

—JOHN MAYNARD KEYNES, “The Economic Possibilities for Our
Grandchildren”

This is a book about the unparalleled possibilities of now. It takes as its backdrop an inescapable fact: the majority of the world’s population is at last connecting with the global economy; billions of people are deriving benefits from the past five centuries of technological and institutional innovation from which they have previously been excluded. As a consequence, human well-being will likely improve to a greater extent in coming decades than at any time in history. But progress toward global prosperity is not inevitable. The choices we make today will determine the extent and reach of the coming prosperity, and the part we play in it.

There would be no need to write this book if a general appreciation existed for the scope of the coming prosperity, or the half millennium of historical momentum from which it derives its impetus. Yes, the ascendance of China, India, and Brazil is universally recognized. But, for some understandable reasons, this new reality still mostly inspires alarm rather than eager anticipation.

In the US, in particular, the economic ascent of the global majority is mostly either blamed for the nation’s alleged decline or damned as the underlying cause for an array of global challenges—from climate change to water scarcity. Sure, Shanghai is suddenly full of whiz kids poised for dominance in the science fairs of the future, and villagers in Kenya can now receive money from a relative abroad on their cell phones. Great—that’s good for them. But such changes aren’t going to do much for . . .

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