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North Korea is moving in the direction of an open market as China did a generation ago. With a substantial population of 22 million, the country has abundant natural resources and an affordable labor force that are attractive to contract manufacturers, importers of retail goods, and contractors of large turnkey projects. North Korea's strategic location in the Far East offers enormous savings in transportation cost for multinational firms wishing to ship goods to Southeast Asia and Europe. Five reasons to do business with North Korea are analyzed in the report.

At any given time 86 per cent of Buckman Laboratories’ 1,300 employees are out of the office working with customers located in 102 countries. This diverse and dispersed workforce presents special problems for the creation and management of the company’s intellectual capital. Faced with these challenges and the need to bring new knowledge and skills to its employees in a cost effective manner, Buckman Laboratories has created an online, multi‐lingual learning centre.

The next decade will be one of significant human resource problems and opportunities. The successful corporation will be the one that makes human resources the driving force of long‐run strategic plans.

Outlines the characteristics of Japanese keiretsu (vertically integrated firms interlinked through industrial groups) and reviews the history of financial keiretsu and associated research. Compares the performance of Japanese and US banks 1989‐2000; and examines Japanese bank profit inefficiency by developing a mathematical model and applying it to 1992‐1999 bank data. Shows a “zig‐zag” pattern of profitability change over the period and concludes that the Japanese banking industry is “barely holding its own in profitability”. Points out the particular importance of this to the real economy in Japan and briefly considers the implications for government policy.

Explores the use of strategies adopted by authors and publishers to enhance the success potential of their books.

Drawing on the literature on the production of best selling business books, strategies and techniques increasingly being deployed in the production of social science texts are considered. These strategies are collectively referred to as the “Ritzerization of knowledge”. The Disneyization of Society, by Alan Bryman, is explored as an example of this Ritzerization strategy.

It is argued that while such techniques aid in the production of easy reading, or “knowledge‐lite”, the dictates of the market may threaten the survival of more demanding texts and, worryingly, the capacity for a scholarly depth of understanding or the development of a substantial knowledge base.

Examines the “Ritzerization of knowledge” in both a social and a marketing context.

At TPF's annual conference, MIT professor Lester Thurow received a standing ovation for a keynote speech that confronted the central puzzle of our time: Is the U.S. doomed to become a second‐rate economic power in the 21st century? We have taken the liberty of recasting his presentation as an economic detective story.

In discussion with Bruce Lloyd, Lester Thurow, Professor of Management and Economics at The Massachusetts Institute of Technology, talks about his new book The Future of Capitalism. Despite the end of communism, or perhaps because of it, Thurow argues that capitalism will be under considerable pressure in the years ahead. These challenges arise from demographic factors, including increased trends for more global mobility; as well as the impact on the global economy of the new knowledge‐based industries, which are going to create both new opportunities for inequality at the same time as reinforcing old inequalities. Thurow argues strongly that we need to combine an understanding of these pressures and trends, with a willingness, and ability, to intervene effectively, if we are to be optimistic about the economic development of the world as a whole in the years ahead.

Looks at different aspects of competitiveness emerging from this year′s new books – the international race for supremacy, the contribution of logistics towards commercial success, and benchmarking vis‐a‐vis both the company and the customer.

Before exploring the political implications of the emerging middle class, best to begin by defining the term. The economists who herald the growth of the middle class in the developing world today largely construe the term solely as an income category. This is in stark contrast to Marx, who defined class in terms of a social group's relation to the means of production, and it is in stark contrast to Weber, who defined class in terms of a group's pattern of consumption. But even if economists agree to conceive of the middle class as an income category, they differ on how to define this category – whether in relative or absolute terms.³ Some, like Lester Thurow, define middle class relationally. People are middle class if their income falls between 75% and 125% of the median income in a given society. Others define middle class in absolute terms. In the case of Milanovic and Yitzhaki, the boundaries of the contemporary global middle class are set between the average income levels that currently prevail in Brazil and Italy (threshold and ceiling, respectively).⁴ Still others like Diana Farrell define middle class in terms of relative access to discretionary spending. For Farrell, the middle class is distinguished from the poor in that it does not live “hand to mouth.” Members of the middle class are defined as those who have roughly a third of their income left over for discretionary spending after covering the basic cost of food and shelter.

The essays by Sauer and Cassidy have argued that significant questions can be raised philosophically and historically about the guiding assumptions of economic behaviour. One can also argue that these assumptions offer a partial view of human being with an accompanying loss of the sense of the whole person. Economics tends to reduce the multiform and rich notion of person to simply a datum of economic activity. In this essay, I will argue that there is a need to re‐examine basic assumptions about what it means to be fully human. I will do this from the perspective of developmental psychology, because developmental psychology has empirically based theories that produce expectations about humanity and the future that are very different from those ascribed by economics. This essay will examine developmental theory, particularly that of Robert Kegan, to show its relevance to providing a direction for economics.