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Book Details:
Book Title: The Practical M.B.A. on Economics “What They Do & Don’t Teach You At Business School” by Joseph Gulesserian
Category: Adult Non-Fiction (18+), 526 pages
Genre: Non-Fiction Business Economics History
Publisher: Brands Fifth Avenue Inc
Release date: June 2022
Content Rating: G. Business Book on Economics
#1 Best-Seller in Inflation & Economics History!
A Plethora of Wealth – Knowledge – Insights, that will help you take over the World and Beyond!
Government and the Central Banks have been managing the economic business cycle for over 100 years, creating the biggest Ponzi scheme of money printing ever invented in the history of civilization, as we now find ourselves living in a precarious house of cards. By hallowing out our manufacturing, have we diminished our inventiveness? What role did China really play in this, and what role did our own selfish desire affect the outcome, and what was the trade-off?
Is this the beginning of the end of US monetary global dominance, and how long can we print fiat money to support the vestiges of a declining Empire? Is the cost of living going up, or is it because currency is rapidly depreciating? What is the true source of effective inflation, and why is the wealth divide becoming greater?
The pages of this book bring to light the roots of our economic order of today, and help explain the world around us, how we arrived here, and what might lie ahead.
The Practical MBA on Economics is comprehensive, fast-paced, making for magnificent theatre, full of spills and chills, from stock market crashes to sovereign debt default, to the 1944 Bretton Woods reset, the IMF, the WTO, U.S. Dollar reserve, and mercantilism. We come to meet the economic thinkers that shape our world today from Adam Smith, Richard Cantillon, John Maynard Keynes, David Ricardo, Murray Rothbard, and Milton Friedman.
With intellectual clarity, insights, wit and humour, Gulesserian challenges the narrative, simplifies complex economic ideas, and draws from historical events, to explain how we came to the current financial world order, its perils, and the future of tomorrow!
With compelling antidotes that entertain, filled with relevance and a library of knowledge that leaves the reader feeling full, and liberated to unlock the future. So, butter your popcorn, do fasten your seat belts, and enjoy the ride.
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AUTHOR INTERVIEW
THE LOST MANUFACTURING ERA, RE-SHORING & THE CLUSTERING EFFECT
With the inclusion of China in the WTO under the Clinton administration, the phenomena of low monetary policy, almost acceptable GDP growth and low inflation, was an Argentinian Tango made in heaven. All this led to lower costs and higher consumer spending to fill the carts of China via the local Walmart. That is, until Central Bank money printing went too far, and acute inflation approaching the double digits not seen since the 1980s has been let out of the Genie bottle once again. However, this time there is no independent fed or a Paul Volcker to beat it back into the shoe box.
Manufacturing accounted for 33 percent of U.S. employment in 1947, and 25 percent by 1969, and is under 10 percent as of the year 2021. We exported our inflation and ecological footprints to better wag our self-virtuous finger, while importing unemployment resulting in the hallowing of our manufacturing sector, but at what cost?
The first cost is that we have lost pricing, and timing control of supply chains.
The second cost is found in Lawrence James’ book “The Rise & Fall of the British Empire”, where he stated, “with the loss of manufacturing, a Nation loses its inventiveness”, and empire. Why? Because the West’s young engineers (who we are under-producing) no longer have hands- on experience in manufacturing plants, where they can go up the learning curve exponentially with reverse migration by way of feedback from the plant floor, and the exchange of troubleshooting know-how.
This creates competitive advantage for firms, while contributing to the competitiveness and creativity of the psyche, all correlated to the national strategic architecture.
My father made highly tooled complex parts in 1969 to help put the first man on the moon, and it is said that with the loss of these artisans and precision skilled tradespeople, we would have trouble repeating the moon landings today. We are seeing some companies recently re-shoring to get a handle on the supply chain that is at the mercy of China’s geopolitical whim. Included are Reebok, Tempur Sealy International, French sportswear firm Salomon SAS, and many more.
Yes, we can replace certain workers with industrial robots with over 10 axis dimensional movements, but we still need skilled technicians to set up and maintain the automation, complemented with a supportive peripheral supply chain that has know-how! This is called the clustering effect!
It should also be remember, it was the west who created the first industrial robot named the
“Unimate”, first installed in 1961 at a New Jersey GM plant.
Manufacturers simply cannot re-shore without a local supply chain to thrive, filled with peripheral skills and know-how which has since “Gone with the Wind”, as these artisans and men of hard earned expertise have perished into time without their knowledge being propagated
to a new generation. So, where do you shop for these skills to find this lost knowledge, at the cemetery visiting the tombstones of the builders, or do we find these skills at feel-good empowerment seminars or perhaps at a liberal arts program?
It is this tragic story that is a hallmark of a declining Western Empire!
In my new book “The Practical MBA on Economics” coming out in June 2022, the hollowing of our manufacturing sector and so much more is discussed.
Joseph Gulesserian is an entrepreneur and a published author, who wrote “Newspaper Boys Always Deliver”, a story of pop culture and technology. He has built and brought to market health and beauty Brands with global reach that has sent him around much of the world.
With his technical training, he has spent time on the factory floor with technologies from machine building to software information systems, for competitive advantage.
He has an insatiable eclectic curiosity for flirting with the outer parameters of the human imagination, is a student of history, loves the arts, design, the digital age, math, while believing in the tenets of the marketplace of ideas and personal liberty.
After earning his MBA from Edinburgh Business School in the U.K., he taught Corporate Finance, Capital Markets, Statistics and marketing, as an adjunct professor at Toronto colleges.
connect with the author: website ~ facebook ~ twitter ~ instagram ~ linkedin
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THE PRACTICAL MBA: ECONOMICS Book Tour Giveaway
Hi Lisa,
Thanks you for the spotlight, most appreciated.
Joe
It’s my pleasure!