The Twilight of Sovereignty: How the Information Revolution is Transforming Our World

In a thoughtful essay, the chairman emeritus of Citibank offers shrewd observations of how the information revolution has affected the U.S. economy, manufacturing, international trade, corporate management styles and the global financial system. Wriston identifies the ``new electronic superhighway'' comprised of satellite and broadcast technologies and computers as a driving force behind an integrated world economy. He underscores the importance of intellectual capital, which, he claims, is often overlooked by managers and economists. However, his McLuhanesque central thesis paints a rosy picture unsupported by the evidence. The information age, he argues, is empowering ordinary citizens, driving nations toward cooperation with one another and diminishing the power of governments and corporations even as the ``global conversation'' advances civil and democratic rights. Wriston overstates his case, calling the fax machine ``the pamphleteer of the late twentieth century.'' (Sept.)