I was particularly interested in this book because this is when I graduated from my university and got my first job. Many people were going into the securities industries and making a killing in terms of salary. I stayed in industry because I liked the thought of making something, not pushing paper. Smith does a credible job detailing why this decade should not be considered the best in American history. During this decade, Americans became addicted to debt both personally and by company policy. Buyouts and LBOs were rampant in American society. Schools emphasized the MBA. The Pacific Rim countries-notably Japan exported more to the USA than others. It was a difficult time in U.S. History because we became more dependent on the rest of the world. We became the world's largest debtors.
Smith goes into great detail of why Ameicans must come to term
with who they are. Americans need to become more competitive with the rest of the world. If we do not, others will eat this country's lunch. Smith details all these warning and why it is important to heed them.
Smith is giving friendly advice to a nation that is coming to grips over who has money. Americans need to change their belief in short run gains at the expense of long run profits. Only by focusing on the customers can we beome better manufactures.
This books jumps from one topic to other, and therefore few people get the whole story.