Murray Weidenbaum has brought solid economic understanding and a talent for clear expression to analyses of a wide range of public and private policy problems. Written over the course of a remarkable and varied career as a scholar, official, and participant in varied businesses, this collection of concise essays is full of insights and lessons as fresh and relevant to issues of today as to the time they were written." --The Honorable Paul A. Volcker, former chairman of the Federal Reserve System "'One-Armed Economist' could easily have been titled 'Intellectually Honest Economist,' or 'Clear-Eyed Economist,' or 'Literate Economist.' Murray Weidenbaum is all of those things, as these essays, spanning his career, as professor, corporate planner, and top White House official, elegantly make clear. In a non-dogmatic, non-doctrinaire, clear-headed and clearly written fashion, Weidenbaum ranges over the widest range of issues involving business, government and economics. He is that rare person who can write for an audience of experts and specialists while still being able to reach a larger audience. People in business, government and academia, as well as those in corner shops and on factory floors, can benefit from his insights and experiences."--Norman Ornstein, Resident Scholar, American Enterprise Institute "Murray Weidenbaum is a triple threat: a wise, witty, and one-armed economist. This wonderful selection of his professional writing displays impressive public policymaking insights based on an extraordinarily rich set of experiences in the public and private sector; a refreshingly puckish and self-deprecating humor; and a most welcome willingness to say exactly what he thinks."--Thomas E. Mann, W. Averell Harriman Chair and Senior Fellow, The Brookings Institution "Murray Weidenbaum's One Armed Economist: On the Intersection of Business and Government is must-reading for students and scholars of economic policy. A blend of theory, history and practice, this collection of essays provides important and enduring insights into subjects as diverse as government regulation of business, tax reform, the military and presidential advising from the invaluable perspective of an academic who has also been inside business and government. Highly recommended."--Michael J. Boskin, T.M. Friedman Professor of Economics, Hoover Institution Senior Fellow and Former Chairman, President's Council of Economic Advisors "With this book we all have available to us the perceptivity and wisdom of a distinguished American economist. It is good that these pieces were brought together in one package." --Paul W. McCracken, Distinguished University Professor Emeritus of Business Administration, Economics, and Public Policy, University of Michigan Business Schools One-Armed Economist represents a personal, if eclectic, approach to public policy. Weidenbaum avoids doctrinaire positions, be they Keynesian or monetarist or supply side or libertarian. This distillation of Weidenbaum's wide range of writings on public policy issues over the last four decades draws on his practical experience in government and business as well as his academic research over that extended period. The volume covers six major clusters of policy issues: economic policy, government programs, business decision-making, government regulation, the defense sector, and the international economy. There are chapters on how to achieve a cleaner environment, how to fundamentally overhaul the tax and health care systems, and a defense of Reaganomics. The work examines how public sector activities impact the performance of the national economy. Its coverage includes the role of government as a buyer, a seller, a provider of credit, and a source of subsidy and support. Drawing heavily on his experience as economist for a major military contractor, Weidenbaum shows that the defense industry is the most heavily regulated sector of the Amer
Business is becoming more global, more competitive, and more knowledge-intensive. Consequently, business executives are being required to reexamine and redefine fundamental relationships - both intra- and inter-company. The Dynamic American Firm explores the pivotal factors motivating the organizational changes that are sweeping American business, with a particular emphasis on the global marketplace. It provides a critical analysis of the forces that are shaping strategies and structures of American business, emphasizing that the process of adaption is more important than particular strategies and structures that develop along the way. The authors begin by illustrating the external factors that shape the development of the firm, including a combination of technological advances and increasingly global markets, and proceed to discuss corporate efforts to adapt to this external environment by means of changing relationships with other firms. They pay particular attention to the alliances that help American firms establish a presence in overseas markets, including the roles of mergers, acquisitions, strategic alliances, and joint ventures. The book concludes with a discussion of the internal changes taking place in American firms, including shifts in organizational strategy and structure, the elimination of middle management, and the development of work teams.
In this report, the author tracks the unraveling of what had been a broad consensus on trade policy. He then examines the major criticisms of international trade and the global economy, acknowledging that these criticisms must be addressed. And finally, and most importantly, he attempts to respond to these concerns in the most constructive manner possible -- looking for common ground that might allow real progress on these important issues.
Murray Weidenbaum has been a visiting scholar at the American Enterprise Institute and the Center for Strategic and International Studies, a speaker at meetings at the Brookings Institution, the Cato Institute, and the Heritage Foundation and has also written for their publications, and served as a reviewer of ongoing studies. In The Competition of Ideas, Weidenbaum examines the political economy of these vital institutions, drawing heavily on several decades of involvement in their activities. He is uniquely able to see their accomplishments as well as their shortcomings. Because of the importance of the activities of their organizations, and their tax-exempt status, think tanks are held to a high standard. Weidenbaum shows that sometimes think tanks are more tank than think—major think tanks are often predictable in the positions they take on public issues and are far better at analyzing the shortcomings of other elements of society than of their own operations. The overarching issue of quality control, Weidenbaum holds, deserves more attention than it has attained in the think tank world. This book presents a careful, balanced account of where think tanks have been and where they are now headed. Given the high levels of professionalism in many think tanks, a fundamental change in the attitude of their management is important. The compelling need is less for the wielder of policy than for the lucid synthesizer of relevant research and analysis. Likewise, society needs sensitivity to the long-term concerns of the citizenry more urgently than rapid response to the opportunities of the moment. Future competition, particularly among the major think tanks, could well be centered, not on achieving greater visibility, but on developing responses to economic, environmental, and national security problems that are likely to be adopted and carried out.
Following in the tradition of generations of expatriate Chinese merchants, they began establishing small family businesses. Today, the authors show, these have expanded into conglomerate business empires. Entrusting corporate divisions almost exclusively to relatives, and dealing extensively with fellow expatriates, these entrepreneurs have formed close-knit and formidable business spheres throughout Southeast Asia - a "bamboo network.
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