Bits, Bytes, and Balance Sheets The New Economic Rules of Engagement in a Wireless World

by Wriston, Walter B.

• ISBN13: 9780817948610
• ISBN10: 0817948619
• Format: Hardcover
• Copyright: 2007-11-01
• Publisher: Hoover Institution Press

Summary

This follow-up to the author's Twilight of Sovereignty explores the consequences of the changes produced by the new economy of the Internet, defining the new rules and examining some of the promising initiatives under way to create a system of measuring and valuing assets that reflects our new economic realities. Wriston shows that in today's economy, intellectual capital is more important than physical capital—and that businesses must adapt to this change or perish.

Author Biography

Walter B. Wriston was the former chairman and chief executive officer of Citicorp. In 2004 he received the Medal of Freedom from President George W. Bush. He died in 2005.

Table of Contents

Foreword	p. ix
A Note to Readers	p. xiii
Preface: A Momentous Revolution	p. xv
Unintended Consequences	p. 1
The Creation of Wealth	p. 14
Bits, Bytes, Power, and Diplomacy	p. 28
New Rules: Different in Kind, Not Degree	p. 56
The Whiskey Ain't Working Anymore	p. 65
What Gets Measured, Gets Done	p. 91
The Great Disconnect: Balance Sheets Versus Market Value	p. 105
Politically Correct Versus Accurate Earnings	p. 112
Global Accounting for a Global Market	p. 116
Other People's Money	p. 121
Afterword	p. 135
Selected Bibliography	p. 141
About the Author	p. 149
Index	p. 151
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