In Praise of Hard Industries by Eamonn Fingleton
Why Manufacturing, Not the Information Economy, Is the key to Future Prosperity

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Challenging conventional wisdom, Eamonn Fingleton argues that manufacturing expertise -- not the new information economy -- is crucial to jobs, exports, and growth. It is universally accepted that the future of the U.S. economy depends on its successful adaptation to a postindustrial, information-based global economy. The same conventional wisdom says that advanced economies should abandon manufacturing in favor of information-driven services such as finance, entertainment, and software. In this surprising and provocative book, the acclaimed financial journalist Eamonn Fingleton demonstrates that by every measure, including high-wage job creation, contribution to national income, and balance of trade, the manufacturing sector outperforms the "new economy." In Praise of Hard Industries argues with compelling logic that America's long-term economic success depends on its strategic advantage as a manufacturer of sophisticated equipment and producer goods.

About Eamonn Fingleton

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Eamonn Fingleton, a prescient former editor for Forbes and the Financial Times, has been monitoring East Asian economics since he met supreme leader Deng Xiaoping in 1986 as a member of a top U.S. financial delegation. The following year he predicted the Tokyo banking crash and went on in Blindside, a controversial 1995 analysis that was praised by J. K. Galbraith and Bill Clinton, to show that a heedless America was fast losing its formerly vaunted dominance in advanced manufacturing to Japan. His book In Praise of Hard Industries: Why Manufacturing, Not the Information Economy, Is the Key to Future Prosperity brilliantly anticipated the Internet stock crash of 2000. His books have been read into the U.S. Senate record and named among the ten best business books of the year by Business Week and
Published September 9, 1999 by Houghton Mifflin Harcourt. 288 pages
Genres: Business & Economics, Education & Reference, Professional & Technical. Non-fiction

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The press, for example, is blamed for portraying manufacturing as a “consistently dull activity worthy only of self-evident second-raters.” The author has credible ideas and offers reasonable descriptions of economic activity, yet readers may have difficulty believing someone whose political bias...

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Publishers Weekly

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He contends that, contrary to Western press reporting, Japan is not an economic basket case, but is instead an affluent dynamo poised to challenge the U.S. for global economic leadership (a theme he set forth in his 1995 book Blindside).

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The American Conservative

“Much of the technology that Boeing has transferred abroad was subsidized by the U.S. taxpayer and it was entrusted to Boeing to look after,” Lynn says.

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