Investing In The Second Great Wave Of Technology
Publication Date: March 2000
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The American economy has been turned upside down during the past decade in one of the most tumultuous economic revolutions in world history. The result: the United States has put more distance between itself and its commercial rivals than anyone imagined possible. Annual growth in the U.S. economy matches the size of whole countries. The Dow Jones Industrial Average has reached once-unthinkable heights. Three-quarters of the world's top fifty companies are now American.
In FutureWealth, a superbly researched book, the authors provide a startling new way of looking at America's success. The reason for our exceptional performance is the breathtaking pace at which U.S. companies today substitute information for all other resources at their disposal. The authors explore major companies that have substituted information throughout their operations. They also show how the results have been dramatic in those companies' expanded bottom lines and rising stock valuations-- and how investors can both learn and profit from the information revolution around us.
FutureWealth is a landmark book and a very timely read for investors, managers, and policy makers the world over.
Francis McInerney and Sean White, partners in North River Ventures (www.northriverventures.com), are New York-based investors and advisors to large players in the information technology sector. Beating Japan (1993), their first book, was hailed for its fresh thinking and complete knowledge of the way Japan used to work behind an image of unwavering success. Their second, The Total Quality Corporation (1995), challenged conventional strategies by showing how cheap information eliminates costly waste and pollution and contributes directly to profit. The authors live with their families in the New York area.
"Authors McInerney and White cleave through incredible confusion and uncertainty to provide both insight and foresight. FutureWealth is provocative and arresting in its clarity. In an environment where few old rules still apply, they have developed an invaluable road map for both business executives and investors alike. For anyone involved with the communications/high tech sector, this is a must-read."--Van Cullens, President, Harris Corporation
"McInerney and White have given us a clear perspective on how and why we are where we are, but, more important, on where we are going in all major industries. If you have wealth and would like to keep it in the twenty-first century, FutureWealth is a must-read. And if you are just starting to accumulate wealth, you'd better read it quickly."--James Bowe, CEO, The New York Board of Trade
"In FutureWealth, McInerney and White present a compelling conceptual framework that illuminates the momentous changes in our era. As computer networking, telecommunications, and electronic media converge at the speed of light, the societies and economies of the world will transform in ways we can only imagine. This book is a must-read for those building tomorrow's businesses and institutions."--Steve Halsted, Chairman and CEO, The Centennial Funds