Annotation Information technology was key to the superior overall macroeconomic performance of the United States in the 1990s-high productivity, high growth, low inflation, and low unemployment. But IT also played a role in increasing earnings dispersion in the labor market-greatly rewarding workers with high education and skills. This US performance did not happen in a global vaccum. Globalization of US IT firms promoted deeper integration of IT throughout the US economy, which in turn promoted more extensive globalization in other sectors of the US economy and labor market. How will the increasingly globalized IT industry affect US long-term growth, intermediate macroeconomic performance, and disparities in the US labor market? What policies are needed to ensure that the United States remains first in innovation, business transformation, and education and skills, which are prerequisities for US economic leadership in the 21st century? This book traces the globalization of the IT industry, its diffusion into the US economy, and the prospects and implications of more extensive technology-enabled globalization of products and services.

Information technology (IT) was key to the superior overall macroeconomic performance of the United States in the 1990s—high productivity, high growth, low inflation, and low unemployment. But IT also played a role in increasing earnings dispersion in the labor market—greatly rewarding workers with high education and skills. This US performance did not happen in a global vacuum. Globalization of US IT firms promoted deeper integration of IT throughout the US economy, which in turn promoted more extensive globalization in other sectors of the US economy and labor market. How will the increasingly globalized IT industry affect US long-term growth, intermediate macro performance, and disparities in the US labor market? What policies are needed to ensure that the United States remains first in innovation, business transformation, and education and skills, which are prerequisites for US economic leadership in the 21st century? This book traces the globalization of the IT industry, its diffusion into the US economy, and the prospects and implications of more extensive technology-enabled globalization of products and services.

Revolutionary improvements in technology combined with the leadership elite's enthusiasm for de-regulation of markets and free trade to fuel American-style globalization. The nation rose to economic power after the Spanish-American War, and won both world wars and the Cold war, after which America's power and cultural influence soared as business and financial interests pursued the long-term quest for global markets. But, the tragic events of September 2001 and the growing volatility of global finance, raised questions about whether the era of American-led globalization was sustainable, or vulnerable to catastrophic collapse.

In 1955 the Fortune magazine list of America's largest corporations included just 18 with headquarters in the Southeast. By 2002 the number had grown to 123. In fact, the South attracted over half of the foreign businesses drawn to the United States in the 1990s. The eight original essays collected here consider this stunning dynamism in ways that help us see anew the region's place in that ever-accelerating, transnational flow of people, capital, and technology known collectively as "globalization." Moving between local and global perspectives, the essays discuss how once faraway places like Latin America, Asia, Africa, and the Indian Subcontinent are now having an impact on the South. One essay, for example, looks at a range of issues behind the explosive growth of North Carolina's Latino population, which grew by almost 400 percent during the 1990s-miles ahead of the national growth percentage of 61. In another essay we learn why BMW workers in Germany, frustrated with the migration of jobs to South Carolina, refer to the American South as "our Mexico." Showing that global forces are often on both sides of the matchup--reshaping the South but also adapting to and exploiting its peculiarities--many of the essays make the point that, although the new ethnic food section at the local Winn-Dixie is one manifestation of globalization, so is the wide-ranging export of such originally southern phenomena as NASCAR and Kentucky Fried Chicken. If a single message emerges from the book, it is this: Beware of tidy accounts of worldwide integration. On one hand, globalization can play to southern shortcomings (think of the region's repute as a source of cheap labor); on the other, the influx of new peoples, customs, and ideas is poised to alter forever the South's historic black-white racial divide.

Blue-collar job loss, immigration, trade deficits--Americans blame globalization for a host of problems. Indeed, even in a political system split by fundamental divisions, populists and progressives alike belong to a chorus that decries globalization's effects on our politics, way of life, and interactions with the world. Yet the United States is the biggest beneficiary of the global economy it has helped to create. Edward Goldberg argues that globalization is the economic and cultural version of evolution, a natural process that pushes people into more efficient behavior influenced by the market and our human need to explore, change, and grow. Properly implemented, it propels cultures and societies forward as one new idea challenges or blends into another. Harmful nationalist policies have arisen because Americans do not equally share globalization's benefits, a situation made worse by the government's refusal to implement policies that would mitigate the rampant inequalities. A bold challenge to popular opinion, Why Globalization Works for America offers a historically informed analysis of why we should celebrate globalization's place in our lives.

The technological revolution has reached around the world, with important consequences for business, government, and the labor market. Computer-aided design, telecommunications, and other developments are allowing small players to compete with traditional giants in manufacturing and other fields. In this volume, 16 engineering and industrial experts representing eight countries discuss the growth of technological advances and their impact on specific industries and regions of the world. From various perspectives, these distinguished commentators describe the practical aspects of technology's reach into business and trade.