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Product Description
What really underpins economic growth and prosperity in the world today - and what do these new realities imply for organizations around the globe? This vital anthology debunks several myths around what makes economies and companies grow, and helps you assess the potential impact of growth drivers such as information technology and innovation, manufacturing and service industries, and the informal economy.
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2 of 2 people found the following review helpful:
 An anthology of older material that is available for free, 2007-04-13
Growth is on the top of every CEO's agenda making this book look very attractive. However, this book is a collection of previously published materials from the McKinsey Global Institute (MGI). While each piece is individually good, the book lacks a cohesive argument or discussion of the set of tools so they don't meet the readers expectation based on the title.
The articles which are all interesting are not of particular immediate interest to the reader, for example only two of the articles were of high value to me. These are good. However that was 2 articles out of 11 in the book.
Here are the eleven articles:
The new real economy
Getting IT spending right the first time
A road map for European Economic reform
Domestic services: the hidden key to growth
Boosting government productivity
Beyond cheap labor: lessons for developing economies
Don't blame trade for U.S. job losses
The hidden danger of the informal economy
Reining in Brazil's informal economy
The cost of the gray market in Turkey
Regulation that is good for competition
It is important to note that most, if not all of these articles are available for free from McKinsey's web site. Accessing their web site provides not only the articles but access to other materials that are not in the book -- for a price that you cannot beat. While I understand the marketing value of making these articles available via a book, people should know that they may be unnecessarily are paying for the binding and dust cover rather than some paper and toner to print these out.
Again I cannot stress this enough, the work is good. It's just the packaging that is the issue.
0 of 1 people found the following review helpful:
 How to break down barriers to global prosperity, 2007-02-03
I frequently read books in combination. For example, this one and The Productivity Imperative: Wealth and Poverty in the Global Economy, both edited by Diana Farrell who wrote an introduction to each and is also among the contributors. The material was generated by those associated with the McKinsey Global Institute (MGI) - of which Farrell serves as Director -- and its "Critical Trends in Economics and Management" initiatives.
As Farrell explains, the material in this volume consists of 10 MGI articles that demonstrate the case against three misconceptions about productivity growth in economies around the world. (They are best revealed within context in the narrative.) The collection of articles "also presents guidelines for policies regarding these three areas [i.e. capital investment in IT, the importance of productivity in service industries, and the impact of tax evasion and illegal business practices] that will raise productivity more reliably, by promoting investment focused on productive innovation, encouraging greater competition and growth within service sectors, and by effectively and fairly curbing the informal economy."
The articles are arranged in three sections: "IT spending and productivity growth: the real relationship," "The impact of productivity in services on growth," and "How the informal economy stifles competition in emerging markets." I especially appreciate the provision of an "Ideas in Brief" section with each article that identifies a few issues. For example, preceding Martin Neil Baily and Diana Farrell's "A road map for European economic reform" (Chapter 3): "Many Europeans believe that regulatory reforms to make their product and labor markets more competitive will entail eliminating their social safety nets. As alternatives to reform, some advocate protectionist policies, others more investment in R&D." Preceding Thomas Dohrmann and Lenny T. Mendonca's article, "Boosting government productivity" (Chapter 5):"In the developed world, the state commands a large share of the economy, so improving the perf0ormance of government departments can generate hundreds of billions of dollars of value." And preceding Joe Capp, Heinz-Peter Elstrodt, and William B. Jones, Jr.'s article, "Reining in Brazil's informal economy (Chapter 9): "Brazil's onerous bureaucracy is partly to blame: burdensome regulations, high taxes, and weak enforcement conspire to encourage evasion because the benefits outweigh the relatively small possibility and cost of being caught."
Obviously, it remains for each reader to determine the relevance and value of each article in relation to her or his own needs and interests. To me, one of the greatest values of the collection of articles is that all manner of key issues are addressed with rigor as their authors identify what the key barriers to global prosperity and then suggest how to overcome them.
Those who share my high regard for this volume are urged to read C. K. Prahalad's The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits, Kenichi Ohmae's The Next Global Stage, Stuart L. Hart's Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems, and The 86 Percent Solution: How to Succeed in the Biggest Market Opportunity of the Next 50 Years, co-authored by Vijay Mahajan and Kamini Banga.
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