Unleashing the Second American Century

December 15, 2013
Fasten your seat belts. If Kurtzman (Startups that Work: Surprising Research on What Makes or Breaks a New Company, 2005, etc.) is right, the American economy is fueled for an unprecedented takeoff into a new era of economic growth. The author, former editor in chief of both Harvard Business Review and Strategy + Business, has little patience for the "doomsayers" and the "doomsday preppers" born of political negativity. Though he agrees that fearmongering is not a crime, he sets out to reassert America's immense strengths and bright future. Kurtzman assumes that the fuel for the coming economic surge will be provided by four transformational forces: 1) the continuing strengths of the country's manufacturing sector (still the world's largest and most productive); 2) the rapid approach of energy self-sufficiency; 3) the accumulation of around $5 trillion in the bank accounts of corporations and reserves of the banking system; 4) the promising future of collaboration among government, university research and the private sector (this may be the most intriguing to many readers). Kurtzman takes readers on a tour through the multiple world-class medical-research institutions that have set up shop in Boston, companies that exemplify how pioneering advances in medicine and medical technology are being made at a rapid rate. For decades, the author argues, America's manufacturing and economic strengths have been based on advanced research and the development of a strong educational infrastructure--e.g., Boston-based MIT. Now, that tripartite collaboration is producing a new generation of technology based on robotics, much of which will begin to nullify the cost advantage of outsourced labor. "For the United States, the future looks bright," writes Kurtzman. "The country has abundant new sources of energy, high levels of creativity, the world's largest manufacturing base--which is getting larger--and enough private capital to turn anyone's plan into reality." Great booster writing offering many exciting possibilities for America's future.

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January 1, 2014
Finally, some good news about the U.S. domestic economy and its place in the global economy. Contrary to doomsday predictions, the U.S. is poised for a second era of economic and political dominance on the world stage, argues economist Kurtzman. The reasons for his optimism: the high level of creativity and innovation in the U.S., massive new energy reserves that will make the U.S. energy independent, huge amounts of capital ($4.4 trillion) on hold since the recession and waiting to be invested, and unrivaled manufacturing strength. This book is chock-full of statistics but has a lively narrative that makes the data highly accessible. In addition, Kurtzman takes reader on a tour of some of the most vibrant sectors of the U.S. economy, starting with Cambridge, Massachusetts, which has impressive research facilities in biotech, telecommunications, and pharmaceuticals. He goes on to detail innovations in the energy sector and promises of a recharged manufacturing sector focused on recession-proof arenas such as software, jetliners, and food. This is a thoughtful, well-researched book, but it's the good news that makes it such good reading.(Reprinted with permission of Booklist, copyright 2014, American Library Association.)