Taking a worldwide perspective, including that of Britain (where the process began under Margaret Thatcher), Europe, the former USSR, China, Latin America and the USA, this is a study of the redefinition of the relationship between state and marketplace. This is the process known as privatization - a term which inadequately expresses the phenomenon's far-reaching changes. The authors set out to show how a revolution in ideas is transforming the world economy and to explain why it is happening, how it can go wrong, and what it will mean for the global economy at the dawn of the 21st century.
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The most powerful force in the world economy today is the redefinition of the relationship between state and marketplace - a process that goes by the name of privatization though this term is inadequate to express its far-reaching changes. We are moving from an era in which governments sought to seize and control the 'commanding heights' of the economy to an era in which the idea of free markets is capturing the commanding heights of world economic thinking. Basic views of how society ought to be organized are undergoing rapid change, trillions of dollars are changing hands and so is fundamental political power. Great new wealth is being created - as are huge opportunities and huge risks. Taking a worldwide perspective, including Britain, where the process began with Mrs Thatcher, Europe and the former USSR, China, Latin America and the US, THE COMMANDING HEIGHTS shows how a revolution in ideas is transforming the world economy - why it is happening, how it can go wrong and what it will mean for the global economy going into the twenty-first century.
Daniel Yergin is a writer of international renown and president of Cambridge Energy Research Associates, a leading firm on political risk and economic analysis. He is consulted by ministers, politicians, CEOs and investors around the world. Joseph Stanislaw is a leading international economic advisor and commentator on markets and politics. He is MD of Cambridge Energy and Research Associates, head of Global Research and Director of its European office in Paris.
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