Building wealth

by Lester C. Thurow

In Building Wealth, noted MIT economist Lester Thurow argues for a fundamental change in the way we as individuals, as companies, and as nations approach spending and saving. Building on the conclusions of his most recent book, The Future of Capitalism, Thurow shows how our current emphasis on spending has displaced an emphasis on investment in basic knowledge, education, and infrastructure. We are on the precipice of disaster if we do not alter our attitudes toward spending.Thurow writes, "History teaches us that societies that do not focus in building quickly die. In the past much of our building has been communal and in the future much of it will have to be communal. Yet there is no current ideology buttressing that reality."In accessible language, Thurow explains the builder's ideology and its commitment to building communal kinds of wealth. It is only through a commitment to building communal kinds of wealth, Thurow argues, that we will maximize opportunities for building personal