Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change by Edmund S. Phelps (Hardback, 2013)
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- DescriptionIn this book, Nobel Prize-winning ecomist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating t just unprecedented material wealth but flourishing --meaningful work, self-expression, and personal growth for more people than ever before? Phelps makes the case that the wellspring of this flourishing was modern values such as the desire to create, explore, and meet challenges. These values fueled the grassroots dynamism that was necessary for widespread, indigeus invation. Most invation wasn't driven by a few isolated visionaries like Henry Ford and Steve Jobs; rather, it was driven by millions of people empowered to think of, develop, and market innumerable new products and processes, and improvements to existing ones. Mass flourishing--a combination of material well-being and the good life in a broader sense--was created by this mass invation. Yet indigeus invation and flourishing weakened decades ago. In America, evidence indicates that invation and job satisfaction have decreased since the late 1960s, while postwar Europe has never recaptured its former dynamism. The reason, Phelps argues, is that the modern values underlying the modern ecomy are under threat by a resurgence of traditional, corporatist values that put the community and state over the individual. The ultimate fate of modern values is w the most pressing question for the West: will Western nations recommit themselves to modernity, grassroots dynamism, indigeus invation, and widespread personal fulfillment, or will we go on with a narrowed invation that limits flourishing to a few? A book of immense practical and intellectual importance, Mass Flourishing is essential reading for anyone who cares about the sources of prosperity and the future of the West.
- Author BiographyEdmund Phelps was the 2006 Nobel Laureate in economics. He is director of the Center on Capitalism and Society at Columbia University. His many books include Designing Inclusion, Rewarding Work, and Seven Schools of Macroeconomic Thought.
- Author(s)Edmund S. Phelps
- PublisherPrinceton University Press
- Date of Publication02/07/2013
- SubjectEconomics: Professional & General
- Place of PublicationNew Jersey
- Country of PublicationUnited States
- ImprintPrinceton University Press
- Content Note20 line illus. 5 tables.
- Weight685 g
- Width140 mm
- Height229 mm
- Spine30 mm
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