A Global Economic Theory

Paper Summary:

The paper relates that in 1990, Michael E. Porter introduced his treatise on global economic inter-connectivity in "The Competitive Advantage of Nations." Porter's work focuses not merely on the laws of supply and demand, as has traditionally been the core premise of most economic theories, but instead attributes economic successes and failures to strategic positioning. This paper critiques Porter's theories.

From the Paper:

"Countries and organizations that take advantage of opportunities and maintain their core strengths tend to succeed, while countries and organizations that succumb to threats and their internal weaknesses tend to fail. This theory of strategies positioning was developed by Porter after quantitative and qualitative analysis in which he assessed the outcomes of decisions made by four industries and ten countries."

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