Minority Business Success: Refocusing on the American Dream

By Leonard Greenhalgh; James H. Lowry | Go to book overview

1 MINORITY BUSINESS SUCCESS
IS A NATIONAL PRIORITY

EXECUTIVE SUMMARY

History repeats itself. Problems go unattended for years until the nation is forced to deal with a crisis. The launch of Sputnik shocked us out of our complacency about America’s leadership in space. The publication of Rachel Carson’s book Silent Spring made us aware that we had been poisoning and plundering our environment. The meltdown of the credit system revealed the underregulated banking system to be catastrophically overleveraged. What had been invisible to the public eye suddenly became visible.

The nation is on the brink of another crisis. Minorities are destined to become the major population group in the coming decades, but they have not been allowed to make their proportional contribution to the U.S. economy. Today we need their contribution, not only to speed economic recovery but also to boost the nation’s output of goods and services to preserve our position in the increasingly competitive global marketplace.

Globalization has increased the importance of national competitive advantage. Wealth flows out of lackluster economies into the coffers of nations that do a better job of value creation. Understanding this, all industrialized countries—except, it seems, the United States—have a National Industrial Strategy that plans what must be produced domestically,

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