Cover of: Dangerous business | Pat Choate

About the Book

From one of the most respected and vigorous economic thinkers in Washington, a wake-up call about the perils of unfettered globalization. In this impassioned, prescient book, Pat Choate shows us that while increased worldwide economic integration has some benefits for our fiscal efficiency, it also creates dependencies, vulnerabilities, national security risks, and social costs that now outweigh its advantages. He takes the long view of developments such as technology-driven progress, the offshoring of jobs, and open trade, arguing that current U.S. policies are leading to worldwide economic and political instability, in much the same way as before the Great Depression.Choate writes convincingly about the Defense Department's growing dependence on foreign sources for its technologies, the leasing of parts of our interstate highway system to overseas investors, China's economic mercantilism, and international currency manipulation that damages the dollar. We have been borrowing heavily from foreign lenders, who by 2009 will own more than half of the Treasury debt, a third of U.S. corporate bonds, and a sixth of U.S. corporate assets--all of which, if handled improperly, could trigger a global economic collapse.But our economic forecast need not be dire. Choate sees a way out of these dilemmas and presents politically viable steps the United States can take to remain sovereign, prosperous, and secure. He presents bold new research that identifies the special interests and structural corruption that have overtaken our democracy--and shows how they can be corrected. He illustrates how our policy-making and legislative process, currently beholden to the highest bidder, can be transformed from one of corporatism and elitism into one of greater transparency. Clear-eyed and persuasive, this is sure to be one of the most widely discussed books of the year.From the Hardcover edition.

Table of Contents

Introduction and hold the melamine, please
Three mega-forces : Mercantilism. Corporatism. Elitism
The path to globalism : Paradise. Friedman I (Milton). Friedman II (Thomas)
Looking forward : Sovereignty. Security. Prosperity
Epilogue
Appendix A : K Street
Appendix B : Wall Street.

Edition Notes

"A Borzoi book."

Includes bibliographical references and index.

Other Titles
Risks of globalization for America, Globalization for America

Classifications

Dewey Decimal Class
337.73
Library of Congress
HC103 .C49 2008

The Physical Object

Pagination
p. cm.

ID Numbers

Open Library
OL18008808M
Internet Archive
dangerousbusines00choa
ISBN 13
9780307266842
LC Control Number
2007052249
Library Thing
5498814
Goodreads
2621665
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History

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August 11, 2011 Edited by ImportBot add ia_box_id to scanned books
November 9, 2010 Edited by ImportBot Found a matching record from Internet Archive .
August 18, 2010 Edited by IdentifierBot added LibraryThing ID
August 10, 2010 Edited by WorkBot merge works
October 9, 2008 Created by ImportBot Initial record created, from Library of Congress MARC record.