The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy

Philip Auerswald, Author
Philip E. Auerswald. Oxford Univ., $29.95 (256p) ISBN 978-0-19979-517-8
Reviewed on: 03/05/2012
Release date: 04/01/2012
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George Mason University public policy professor Auerswald brings with him a message of hope and prosperity about global economic growth, with a wealth of historical data, facts, and anecdotes to support it. Referencing John Maynard Keynes, Auerswald argues against "focusing excessively on transient phenomena, at the expense of understanding longer-term trends." To address the question of how prosperity can come about, Auerswald turns to the work of Joseph Schumpeter and contrasts the work of the two thinkers: "To Keynes... technological unemployment was an affliction to be avoided if at all possible. To Schumpeter, the same phenomenon—the disruption of existing modes of business through linked process of technological and organizational innovation—was the definitive dynamic of prosperity in a democratic society." Here, the author aims to find within our current condition the impetus for change, and he suggests that the answer depends upon realizing "the patterns that connect human beings." He argues that levels of well-being matter more than unemployment rates, growth rates, and trends in global trade flows. With compelling writing, Auerswald offers an enjoyable and thought-provoking read. Agent: Jessica Papin, Dystel & Goderich Literary Management. (Apr.)
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