New World, New Rules: The Changing Role of the American Corporation

New World, New Rules looks at the sweeping changes in the American economy caused by global competition, deregulation, technology, and the rise of power on Wall Street. Author Marina Whitman demonstrates how these developments are radically reshaping the ways big companies deal with their employees and their communities. Whitman, a business professor at the University of Michigan and former chief economist for General Motors Corporation, writes that major companies can no longer be paternalistic pillars of their cities and towns. They must now be lean, global competitors--always eyeing profits, even when it comes to charitable promotions. While America has discovered the upsides of the international economy--more productive workers and more choice and better prices for consumers--the downsides aren't all that comforting: employees can't count on secure jobs and managers are often wracked by short-term thinking. But for American companies and their employees, there's no turning back. After a period of painful downsizing, U.S. corporations are now the most competitive in the world. However, Whitman argues that policymakers and business leaders can mitigate many of the ill effects of America's newfound competitiveness by making health insurance more portable and allocating more tax dollars for job training in new technologies. For students, business leaders, and policy makers. --Dan Ring