Riding Modern Recessions: Experiential Learning for Governing Risks (The Series on Global Transformations in the 21st C, SEMI Online) (English Edition) [Kindle-editie] beoordelingen het boek quotes

“Cronyism” or “nomenklatura” is not a modern market economy, in no way fits the 21st Century, and has not worked for the 99% of people in Russia, USA, Europe, Latin America, Africa or elsewhere. In this global village of ours, are we in for the apocalyptic 1930s style Great Depression Two and wars? Nobody has a clue! Most economic and management theories have been discredited since the advent of the Great Recession in 2007-8. Despite tweaking here and there, these theories are now useless as practical or even just theoretical guides on how to understand great recessions in the 21st C; they already belong to history but they still “keep the gates” of traditional publications and have stifled new approaches before the Internet based publishing became possible. This study is enlightened by carefully selected Nobel Prize level theories but, primarily, it is developed through the micro and macro prisms of many local, national, international, and global business practices, aspirations, prejudices, failures, successes, etc. As such, the study offers a brand new experiential learning approach to the collaborative accumulation and management of the essential knowledge necessary to manage new risks faced by all modern economic agents today: households, businesses, academia, and governments globally. In doing research and knowledge management as well as conceptualizing and writing this study, the author (http://about.me/val.samonis) benefitted from the comparative and integrative experiential learning obtained while traveling on business and working long periods of time in many diverse emerging and developed markets globally, and advising private and public sector organizations in a “hands-on” manner as part of “blue ribbon” commissions, etc, especially in the last two decades of deep and unprecedented transformational change. In particular, the author has benefitted from over two decades long practical, “hands-on” experience in advising emerging markets’ private and public sectors in Eurasia, Africa, and the Americas. The author’s advisory services have been funded in part by the University of Toronto, Canadian International Development Agency (CIDA), Joint (Business, Government, Academia) Committee on Corporate Governance in Canada, Virtual Consultation Forum for the First Inter-American Meeting of Ministers and High-Level Authorities on Sustainable Development, World Bank, OECD-World Bank Private Sector Advisory Group on Corporate Governance, European Union, African Capacity Building Foundation, Stanford Economic Transition Group, and a number of smaller or bigger globally dispersed corporations and governments of several levels. The author therefore dares to claim that he experienced economic and business processes not just as illuminated by “bookish” theories but also through the micro and macro prisms of many local, national, international, and global business practices, aspirations, prejudices, failures, successes, etc. The author gained a lot of inspiration and new understanding from his extensive discussions at The Institute for New Economic Thinking (INET), particularly interactions with the Reagan Era’s Fed Chairman P. Volcker and other top experts at the INET Bretton Woods Conference in 2011. Also, the author owes a lot of enlightenment and inspiration to a high-profile research led by a 2001 Nobelist in Economics Michael Spence of Stanford University. Prof. Spence chaired The High Level Commission on Growth and Development http://www.growthcommission.org/index.php that concluded its epochal work recently. As a former Fulbright Scholar at Indiana University (USA), the author immensely benefitted from the exposures to the 2009 Nobel Prize winning work by the IU Prof. E. Ostrom. By 2012, we have arrived at the critical amount of experiential knowledge and it is a high time to manage this knowledge for a much more realistic new understanding and more efficient governance of new risks in market economies fit for the 21st Century.