World 3.0

Global Prosperity and How to Achieve It

by Pankaj Ghemawat

Number of pages: 400

Publisher: Harvard Business Review Press

BBB Library: Technology and Globalization

ISBN: 9781422138649

About the Author

Ghemawat is the Professor of Global Strategy at IESE Business School in Barcelona. He served for more than twenty years on the faculty of Harvard Business School.


Editorial Review

The global financial crisis has already inspired over a thousand books, not to mention myriad articles, blogs, and other commentary. Some are simply expressions of anger. Others document the hole we find ourselves in or perform forensics on how we nearly buried ourselves alive. Fewer focus on what is to be done, and many of these either carry on with pre-crisis discussions of particular trends, are tactical, or are preoccupied by the short run. Discussions of the broader issues around the rediscovery of market failures and the implications for the cross-border integration markets are rare and, for the most part, can be related to the three worldviews World 0.0, World 1.0, and World 2.0. 

Book Reviews

" am impressed by the breadth and depth of the book. It focuses on interactions between individual country and the rest of the world. These are mainly economic and financial (imports, exports, foreign investment, migration, and so forth) but also cultural, psychological, and in the concluding chapter about human potential. The author consider s the likely impact of internationalization on equity as well as well as growth." -Global Busniess School Network

"This book provides a look inside the global corporate mindset through the eyes of a leading business school academic and consultant." - Seeking Alpha

"I appreciated just how magnificently the author has reframed all future discussion of this topic, and set the gold standard for data-driven discussion–not something they do in Bonn, London, Paris, or Washington." - Public Intelligence Blog

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Wisdom to Share

The challenges we face are real. Finance is in tumult, and while worries about a banking crisis may have ebbed, fears of a crisis in public finances are running high.

Today’s challenges call for a new way of looking at the world, exploring World 3.0, which has clear implications for governments, businesses, and individuals.

Fast-forward several thousand years. You will find that humanity did eventually emerge from the cycle of violence and economic stagnation of the wild world.

In World 1.0, impersonal exchange and other forms of interdependence with strangers became more common.

The global financial crisis prompted us to take a closer look at this representation of our policy choices as tug-of-war between World 1.0 and World 2.0

The food crisis that preceded the financial crisis proved particularly illuminating.

World 3.0’s first attraction is that it is more realistic. It not only recognizes actual levels of cross-border integration.

World 3.0 is also more realistic about human nature. Transforming the world would be easy if we could motivate humans to curb their desires significantly.

More important attraction of World 3.0 is that it highlights the gains from opening up further.