Showing results for "Derek" in Economic Conditions

Early in the 21st century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, or software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.

Winner of the 2011 Strega Prize, this blend of essay, social criticism, and memoir is a striking portrait of the effects of globalization on Italy’s declining economy. Starting from his family’s textile factory in Prato, Tuscany, Edoardo Nesi examines the recent shifts in Italy’s manufacturing industry. Only one generation ago, Prato was a thriving industrial center that prided itself on craftsmanship and quality. But during the last decade, cheaply made goods - produced overseas or in Italy by poorly paid immigrants - saturated the market, making it impossible for Italian companies to keep up.