THE COMING AMERICAN RENAISSANCE

An upbeat evaluation of America's postindustrial future that offers intriguing if cursory perspectives on domestic economic prospects. Moynihan (a Commerce Department advisor and a nephew of Senator Daniel Patrick Moynihan) assesses the state of domestic manufacturing, concluding that the impressive comeback staged by automakers has staying power, as does the revival of Silicon Valley and a host of other important industries, including consumer electronics. The author also anticipates an imminent improvement in productivity rates. In his view, however, the next great boom will occur in services—a broad-gauge category that encompasses enterprises ranging from airlines to fast-food restaurants, electric and other utilities, and warehouse retailers. America sets the pace (and standards) in information goods and services, Moynihan asserts, predicting the nation could extend its long lead in the years just ahead. He attributes the country's competitive dominance in global markets for such wares to an entrepreneurial tradition, the availability of venture capital, an enviable system of higher education, and the fact that English has become the world's second language. In the meantime, the author observes, the decentralization of America proceeds apace, permitting go-getters to live in a low-cost exurban community and make money in a high- paying area as a telecommuter via phone, fax, or PC, while the Internet democratically puts data at the fingertips of anyone with access to a computer and modem. Withal, he accords appreciably shorter shrift to the issue of where opportunity might knock, noting for example, that it could prove smart to locate in a low- cost venue and start one's own business, since job security should continue to diminish. A wide-angle socioeconomic audit that's long on perceptions but unremarkable in its promised counsel to aging Baby Boomers and Generation Xers on how to prosper in the brave new millennial world of tomorrow.