Social capital and capital gains in Silicon Valley

Article Abstract:

Silicon Valley is built on social capital, but it is social capital of a fundamentally different type from the concept of "deep civic engagement" that has come to dominate development theory and to influence policy. Social capital in Silicon Valley is best understood as performance-based trust. It emerges among economic and institutional actors in the pursuit of objectives related specifically to innovation and commercialization. In Silicon Valley, the sequence runs from performance to trust, not from community to trust as the civic engagement theorists would have it. Silicon Valley is an open society - open to ideas, to institutions, and especially to people. Community-based trust implies a closed society. The openness of Silicon Valley to foreigners is one of the region's most valuable assets; it has also been the best social capital investment for the home countries. (Reprinted by permission of the publisher.)

Social aspects, Infrastructure (Economics), Economic development, California, Silicon Valley

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Why manufacturing matters: the myth of the post-industrial economy

Article Abstract:

What will happen to the wealth and power of the United States if we really do shift out of manufacturing and actually become a service economy? This article argues that manufacturing remains vital to the health and well-being of the U.S. economy. Despite the attraction of the concept of a "post-industrial economy" and growing shift to services, the linkages of the rest of the economy to manufacturing remain strong. Manufacturing cannot simply be automated or moved offshore without severely damaging the labor force and impoverishing the U.S. economy. The American policy agenda must emphasize and support the essential role of manufacturing in maintaining the nation's competitive position. (Reprinted by permission of the publisher.)

Manufacturing industry, Manufacturing industries, Economic aspects, United States economic conditions, Industrial capacity

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Countertrade, offsets, barter, and buybacks

Article Abstract:

Countertrade, offsets, barter, and buybacks have existed since before money was invented but over the last few centuries have been treated as marginal phenomena. However, current estimates of the volume of these activities range from 8 to 30 percent of world trade and could reach 50 percent by the year 2000. What is surprising is not just the imprecision of the data but the fact that we have no control over this enormous volume of international transactions. This article examines these forms of trade, their causes and policy implications, and their future impact on our open trade system. (Reprinted by permission of the publisher.)

Methods, Purchasing, Commerce, Barter, Countertrade

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