I'm the New York Times' Global Economics Correspondent. Over the course of three decades in journalism, I have reported from more than 40 countries, including a six-year stint in China for the Washington Post and five years in London for the Times. I have ridden with truck drivers from Texas to India, visited factories and warehouses from Argentina to Kenya, and explored ports from Los Angeles to Rotterdam.
I wrote...
How the World Ran Out of Everything: Inside the Global Supply Chain
How did the most powerful country on earth run out of protective gear and ventilators during a public health catastrophe? And how did everything from breakfast cereal to cars become scarce? In short, globalization broke down. Dependence on factories in China, enormous container ships bridging the oceans, and the relentless pursuit of the lowest costs left Americans uniquely vulnerable to a shock—a dynamic now waiting for the next inevitable disruption.
This book traces the roots of the crisis—the rise of mass assembly, decades of reckless deregulation, a cultish reverence for “efficiency,” the downgrading of jobs, and an investor-propelled embrace of China as the world’s factory floor. Then, it turns to what happens next as business disruption and geopolitics alter the configuration of the global economy.
Like any student of globalization, I love this book because it focuses like a laser on how a single critical innovation—the development of the shipping container—effectively shrank the oceans, accelerated the pace of sea cargo, and made it possible for consumers to depend on faraway factories.
In April 1956, a refitted oil tanker carried fifty-eight shipping containers from Newark to Houston. From that modest beginning, container shipping developed into a huge industry that made the boom in global trade possible. The Box tells the dramatic story of the container's creation, the decade of struggle before it was widely adopted, and the sweeping economic consequences of the sharp fall in transportation costs that containerization brought about. But the container didn't just happen. Its adoption required huge sums of money, both from private investors and from ports that aspired to be on the leading edge of a new…
This wonderful read takes the reader inside the cab of a long-haul truck and on a journey that clearly shows how deregulation and the pursuit of a perverse form of efficiency have made truck driving something to be avoided like a fatal disease.
Here is a powerful peek into the forces of excessive deregulation sabotaging the fruits of trade.
Long-haul trucks have been described as sweatshops on wheels. The typical long-haul trucker works the equivalent of two full-time jobs, often for little more than minimum wage. But it wasn't always this way. Trucking used to be one of the best working-class jobs in the United States. The Big Rig explains how this massive degradation in the quality of work has occurred, and how companies achieve a compliant and dedicated workforce despite it. Drawing on more than 100 in-depth interviews and years of extensive observation, including six months training and working as a long-haul trucker, Viscelli explains in detail how…
This potent book provides a critical historical perspective on the contemporary reality of giant corporations left to dominate markets by regulators who have set aside traditional antitrust enforcement to impede the magical notion of efficiency.
The result is consumers and working people getting fleeced while a handful of dominant companies rake in the profits.
"Every thinking American must read" (The Washington Book Review) this startling and "insightful" (The New York Times) look at how concentrated financial power and consumerism has transformed American politics, and business.
Going back to our country's founding, Americans once had a coherent and clear understanding of political tyranny, one crafted by Thomas Jefferson and updated for the industrial age by Louis Brandeis. A concentration of power-whether by government or banks-was understood as autocratic and dangerous to individual liberty and democracy. In the 1930s, people observed that the Great Depression was caused by financial concentration in the hands of a few…
Here is a book ahead of its time, a work that anticipated the breakdown in globalization to imagine something else – manufacturing clustered closer to customers and a rejection of the sort of efficiency that does not bother to measure the costs of not being able to find medicines in the midst of a pandemic.
A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization—by one of the preeminent economic journalists writing today
“This invaluable book is as bold in its ambitions as it is readable.”—Ian Bremmer, New York Times bestselling author of The Power of Crisis
ONE OF THE BEST BOOKS OF THE YEAR: Kirkus Reviews
At the dawn of the twenty-first century, Thomas Friedman, in The World Is Flat, declared globalization the new economic order. But the reign of globalization as we’ve known it is over, argues Financial…
No one has wrestled more deeply with globalization than the Nobel laureate economist Joseph Stiglitz.
Here, he reveals how the shape of our modern world is colored by a mutant form of freedom that has captured society and the levers of power—the notion that individuals and businesses left to their own devices somehow maximize social good.
You don’t need a Nobel of your own to recognize how this fantasy has fallen short.
We are a nation born from the conviction that people must be free. But since the middle of the last century, that idea has been co-opted. Forces on the political Right have justified exploitation by cloaking it in the rhetoric of freedom, leading to pharmaceutical companies freely overcharging for medication, a Big Tech free from oversight, politicians free to incite rebellion, corporations free to pollute, and more. How did we get here? Whose freedom are we-and should we-be thinking about?
In The Road to Freedom, Nobel prize winner Joseph E. Stiglitz dissects America's current economic system and the political ideology…
My core value is realistic education—learning from each other’s errors and successes, but with full awareness of the difference between the determined past and the uncertain future. We can benefit from uncertainty, which I’ve been doing for a living as an engineer, academic researcher, and inventor. I make use of knowledge and science as much as possible, but I also know that strategic decisions for the uncertain future require skepticism and thinking to deal with the differences in a new circumstance. With my core value, I am passionate about sharing insights and knowledge that our formal education does not provide.
Everything in nature evolves by trial, error, and success—from fundamental physics, through evolution in biology, to how people learn, think, and decide.
This book presents a way of thinking and realistic knowledge that our formal education shuns. Stepping beyond this ignorance, the book shows how to deal with and even benefit from uncertainty by skeptical thinking, strategic decisions, and teamwork based on enlightened self-interests.
This bottom-up thinking is thought-provoking for leaders who wish to build teams rather than herds. The insights in the book will help you to be better prepared for the unexpected, less likely to conform when you…
Trial, Error, and Success: 10 Insights into Realistic Knowledge, Thinking, and Emotional Intelligence
Everything in nature evolves by trial, error, and success. They didn't teach you this in school, even though you should know why the rigid laws of physics don't rule nature and don't inhibit your free-will decisions to try, fail, and succeed. As a guide to success, this book shows how skepticism, prudent use of science, and thinking lead to strategic decisions for the uncertain future.
Presenting real-life examples, the thinking in the book combines sharp analyses with broad analogies to show:
How to identify realistic knowledge and avoid harm due to overgeneralized concepts.
How to create new knowledge and solve…
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