Globalization brings far more benefits to the U.S. economy than it takes away. In a timely response to Thomas L. Friedman's "The World Is Flat" and other books that fuel anxiety over globalization, Gamble shows that both Europe and emerging economic powers such as China, Russia, Southeast Asia, Eastern Europe, and India have serious long-terms problems linked to their cultures, political structures, occasional instability, and state ownership of companies. He contends that these and other factors will eventually put a brake on the economic growth and manufacturing output of the Old World and hot emerging economies. As Gamble proves, American institutions, while imperfect, are stable, flexible, and dynamic - good news for U.S. workers and the economy overall.Through in-depth examples drawn from around the world, Gamble dispels common myths and misconceptions about American competitiveness and its future prospects. He identifies potential threats to the U.S. system from within and assesses the ways in which it ultimately stands to benefit from the forces of globalization. In addition, Gamble addresses issues such as outsourcing, entrepreneurship, immigration, and low-cost labor. Designed to stir up debate, this book will help readers better understand and appreciate the institutions that have made the United States an economic powerhouse for two centuries.