Econovation

Econovation

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Faktor, Steve John Wiley & Sons, Inc., 2012
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IN THIS SUMMARY

America finds itself in a stagnant economy while the economies of China, India, Brazil, Germany, and other nations are growing. According to former American Express executive Steve Faktor, the reason for this stagnation is that many Americans have lost their ability to be innovative. Certainly, American companies continue to develop successful ventures, such as iPads and Facebook, but they often have little impact on the American economy. Apple, for example, does most of its manufacturing in China. In Econovation, Faktor lays out a plan for American companies to reinvent themselves as innovative powerhouses, and to use their new powers of innovation to create jobs and expand the economy.