Cover image for Third millennium capitalism : convergence of economic, energy, and environmental forces
Third millennium capitalism : convergence of economic, energy, and environmental forces
Rogers, Wyatt M.
Personal Author:
Publication Information:
Westport, Conn. : Quorum, [2000]

Physical Description:
xiii, 278 pages: 24 cm
Reading Level:
1470 Lexile.
Format :


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HB501 .R673 2000 Adult Non-Fiction Central Closed Stacks

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The Third Millennium presents unprecedented opportunities and challenges to capitalism as a global economic system. Technological advances, governmental policies, energy supply, ecological concerns, and a burgeoning world population are among the issues to be addressed by private enterprise in holistic and humanitarian ways. No longer can these issues be treated in isolation inasmuch as they are becoming increasingly interdependent.

As Rogers shows, in industrialized nations, with their aging and stabilizing populations, the marketplace and the working environment are changing, requiring new approaches to work and leisure. In sharp contrast, populations in the Third World are growing rapidly and represent vast potential new markets for the private sector. Simultaneously, enormous social, health, and political problems abound in many Third World countries that may be addressed by private sector and governmental initiatives. Economic expansion in Third World nations will require great expansion of electric and other energy systems, resulting in increased environmental degradation unless major preventive measures are taken. Continued growth of energy systems in industrialized nations will require the introduction of increased pollution controls in the near future. A definitive transition from dependence on fossil fuels to nonpolluting renewable energy sources should be a major global priority. Environmental protection efforts, previously confined to major industrialized nations, should become a high priority issue on a global basis. Global climate change and other air pollution, desertification, deforestation, loss of biodiversity, and water pollution are extending into formerly pristine areas, forcing international approaches to mitigation. A challenging assessment for business officers, policy analysts, and economists involved with corporate strategy and economic development.

Author Notes

Wyatt M. Rogers, Jr. is President of III Sigma Company, an economic and engineering consulting group. He has served as an economist and engineer in the fields of economic development, energy production, and environmental protection. Among his earlier positions are Executive Director of the National Committee on Oil Shale, Executive Director of the Western Interstate Energy Board, Director of the State of West Virginia's Technology and Economic Development Division, and Vice President of York Research Corporation.

Reviews 1

Choice Review

As we enter the third millennium, new approaches to economic development are needed given the underappreciated constraints imposed by energy and environmental resources--so argues the author of this wide-ranging book. Democratic capitalism is at the center of these new approaches, but government is important as well, beyond the usual "hands-off" prescription of many economists. Rogers, an engineer and an economist, develops these arguments in the book's four major sections. The first traces the rise of modern capitalism and the corporation and identifies important economic development challenges. The second section focuses on global energy--the adequacy of energy supply, development of new energy sources, and efficient use of energy. The third section considers the environment and ways to protect environmental resources while promoting improved human well-being. The final section argues that a new form of capitalism will emerge from the convergence of economic, energy, and environmental issues. This new capitalism, the author argues, will need to operate simultaneously on a number of fronts, promoting renewable energy technologies, developing new methods for reducing environmental degradation, and establishing institutions that lead to socially responsible decisions. Recommended for public and undergraduate library collections. R. G. Eggert; Colorado School of Mines

Table of Contents

Tablesp. ix
Prefacep. xi
Acknowledgmentsp. xv
Introductionp. 1
The Approaching New Era: Overview of Expected Changesp. 1
Mandates for the Twenty-First Centuryp. 5
Part I Capitalism and the Emerging Global Economy
1. Economic Forces in Modern Capitalismp. 11
Capitalism: A Historical Perspectivep. 11
Globalization as an Economic Strategyp. 18
Political and Economic Developments Affecting Capitalismp. 22
Evolving Economic Conceptsp. 33
2. The Third Millennium Corporationp. 53
The Corporation: The Emerging New Settingp. 53
Developing a New Corporate Structure and Philosophyp. 57
The Corporation and the Global Economyp. 72
The Corporation and Societyp. 75
The Evolving Third Millennium Corporationp. 77
3. Economic Development Challengesp. 81
Developing Local Economies in a Global Marketp. 81
Foreign Investments in Domestic Industriesp. 87
Workforce: Composition and Changing Conditionsp. 88
Urban and Rural Economic Developmentp. 92
Footloose Industriesp. 94
The Special Case of Indigenous Populationsp. 97
Economic Development Strategies for the New Erap. 98
Part II Global Energy Resources
4. Energy Demand and Supply in the Global Economyp. 103
World Utilization of Energyp. 103
Electric Energy in the United Statesp. 111
Energy Resources and Technologies for the Twenty-First Centuryp. 114
5. Issues and Options for Energy Developmentp. 127
Global Energy Policy Issuesp. 127
Fostering Optimum Energy Resources Utilizationp. 134
Energy Conservationp. 138
Transformation of the Electric Utility Industryp. 140
Global Energy Development and Socioeconomic Progressp. 149
Synopsis of Future Global Energy Concernsp. 150
Part III Managing Global Environmental Resources
6. World Environmental Concernsp. 155
The Global Environmental Challengep. 155
Atmospheric Resources and Pollutionp. 159
Water Resourcesp. 168
Land, Vegetation, and Wildlifep. 172
Environmental Protection and Mitigationp. 175
Recycling: A Tenet of the New Environmentalismp. 177
Global Environmental Policy Issuesp. 178
7. Capitalism and the Environmentp. 183
Evolution of the Environmental Ethicp. 183
Environmental Resources Conservationp. 187
Industrial Pollution Controlp. 192
Private Industry Roles in Environmental Protectionp. 193
8. Toward a Sustainable Global Environmentp. 195
The Environmental Goal: Meeting Human Needsp. 195
Strategies for Global Environmental Protectionp. 197
Part IV Capitalism in Transition
9. Convergence and Synergyp. 207
Converging Forces in Third Millennium Capitalismp. 207
Synergism in Capitalismp. 218
10. Energy, Environment, and Economic Growthp. 221
Economic Growth: Dependence on Capitalism and Energyp. 221
Energy Conservation Mandatep. 222
Energy Requirements in Developing Nationsp. 223
11. Capitalism in the Third Millenniump. 227
A New Capitalism Paradigmp. 227
Changing Conditions and Outlook for Global Capitalismp. 235
Private Industry and the Public Sectorp. 240
The Corporation as a Human Institutionp. 248
Improving Accountability in the Private and Public Sectorsp. 252
Globalization and Capitalismp. 255
Global Governancep. 258
Capital Formation and Mobilityp. 262
Conclusionp. 265
Bibliographyp. 269
Indexp. 273