I also found two of his other books similarly very enlightening ones. Currently a reader in the Political Economy of Development at the University of Cambridge, Chang is the author of several widely discussed policy books, most notably Kicking Away the Ladder: Development Strategy in Historical Perspective
Lexus and the Olive Tree Summary By: Friedman, investigates the phenomenon of globalization in our world and how it has established a new international system that has replaced the cold war.
This new system of globalization connects people from all over the world from Southeast Asians fighting a recession to Thai bankers to entrepreneurs in the United States.
Friedman credits that the democratization of technology, information, and finance has shrunk our world from small to tiny where people all over the world can now transfer information cheaper, deeper, and faster.
The walls that once separated our world have now been torn down with the development of the Internet and the television. Friedman uses the Lexus and the olive tree to symbolizes the balance that a country or company must maintain in order to thrive.
The Lexus represents modernization and technology the olive tree represents the uniqueness in communities. It signifies the core values that are dependable and solid. Societies must aim for the Lexus but should recognize the need for the olive tree.
The second section explains how countries, communities, companies, and individuals interact with the system. Chapters 1 and 2 go into further detail about the new system.
They explain that the last system, the Cold War system, was characterized by division and the new system, the Globalized system, is characterized by integration and the idea of free-market capitalism.
These chapters show that globalization was made possible through information arbitrage, or simultaneously gathering and dispersing data to and from other markets to paint a picture of the world. Chapter 3 is titled, The Lexus and the Olive Tree, where the Lexus represents the drive for sustenance, improvement, prosperity, global markets, and new technologies and the olive tree symbolizes the things in our world that are older, rooted and dependable.
The biggest goal of a nation is to find a healthy balance in both. Chapter 4 reviews the three fundamental changes of globalization. The first change is the democratization of technology, or how we communicate. The second is the democratization of finance, or how we now invest on a global market.
The final change is the democratization of information, or how we learn. Chapter 5 covers the pressures and constraints of globalization by calling it the disease of MIDS. Symptoms are slower productivity and lower living standards.
Chapter 6 explains that the only way to avoid MIDS as a nation or company is to put on the "golden straightjacket" and basically giving into globalization and conforming to it's standards of lower inflation, lower tariffs, increasing exports, and opening industries.
In addition to putting on the straightjacket, a country must also join the electronic heard. The electronic heard is covered in Chapter 7 and is characterized by short horns and long horns referring to the small and large multinational investors around the globe.
The second section of the book goes into detail about how countries and companies are reacting to this new change.The Lexus and The Olive Tree is, without a doubt, an in-depth research, from all angles, in globalization, and it is certainly a useful and interesting book.
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Nandan Nilekani is the cofounder and cochairman of Infosys Technologies, Ltd., and the chairman of the Unique Identification Authority of India. A graduate of the Indian Institute of Technology, he has received a number of prestigious awards, including the Joseph Schumpeter Prize, and has been recognized for his technological and economic innovation by the likes of Time and Forbes.
Apr 26, · Essay about The Lexus and the Olive Trees The Lexus and The Olive Tree Summary: Opening Scene: The World Is Ten Years Old. The trouble spread to one continent after another like a virus. USA Today On December 8, , the government of Thailand shut down 56 of their countries finance houses.