This book investigates the factors contributing to the decline of American industrial competitiveness and proposes a strategic framework for national economic revitalization. The authors, Ira C. Magaziner and Robert B. Reich, utilize their expertise in business consulting and public policy to analyze the structural shifts in the global economy during the late 20th century. They argue that the United States must move away from passive market reliance toward a more deliberate industrial policy that prioritizes long-term investment in human capital and technological innovation.

Experts frequently cite this work as a foundational text for understanding the debate surrounding American industrial policy in the 1980s. Readers often note the academic density of the prose and the authors' rigorous reliance on comparative economic data.