Globalization and Its Discontents
Author: Joseph E. Stiglitz
Publisher: W.W. Norton & Co.
Accessible, provocative and highly readable... Brings an insider's insights into the crises of the 1990s and beyond. -- Alan Cowell, New York Times 9 June 2002
Development and economics are not about statistics. Rather, they are about lives and jobs. Stiglitz never forgets that... -- Frank Bures, Christian Science Monitor, 27 June 2002
Entertaining, insightful, and well-written.... Makes a compelling case. -- Foreign Affairs, July/August 2002
He is one of the most important economists of modern times. -- Nicholas Stern, Chief Economist and Senior Vice President, World Bank
Provocative, readable, and sure to earn Stiglitz persona non grata status in certain corridors of power. -- Kirkus Reviews, 1 April 2002
Whatever your opinions, you will be engaged by Stiglitz's sharp insights. A must read. -- Juan Somavia, Director-General of the International Labor Organization
[A] smart, provocative study... Impassioned, balanced and informed... A must-read. -- Publishers Weekly, 13 May 2002
[Stiglitz's] rare mix of academic achievement and policy experience makes Globalization and Its Discontents worth reading. -- Michael J. Mandel, BusinessWeek, 17 June 2002
[W]ill surely claim a large place on the public stage. -- Benjamin M. Friedman, The New York Review of Books, 15 August 2002
- Product Description:
- This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics.
When it was first published, this national bestseller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations.
Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.
- Due to massive media coverage, many people are familiar with the controversy and organized resistance that globalization has generated around the world, yet explaining what globalization actually means in practice is a complicated task. For those wanting to learn more, this book is an excellent place to start. An experienced economist, Joseph Stiglitz had a brilliant career in academia before serving for four years on President Clinton's Council of Economic Advisors and then three years as chief economist and senior vice president of the World Bank. His book clearly explains the functions and powers of the main institutions that govern globalization--the International Monetary Fund, the World Bank, and the World Trade Organization--along with the ramifications, both good and bad, of their policies. He strongly believes that globalization can be a positive force around the world, particularly for the poor, but only if the IMF, World Bank, and WTO dramatically alter the way they operate, beginning with increased transparency and a greater willingness to examine their own actions closely. Of his time at the World Bank, he writes, "Decisions were made on the basis of what seemed a curious blend of ideology and bad economics, dogma that sometimes seemed to be thinly veiling special interests.... Open, frank discussion was discouraged--there was no room for it." The book is not entirely critical, however: "Those who vilify globalization too often overlook its benefits," Stiglitz writes, explaining how globalization, along with foreign aid, has improved the living standards of millions around the world. With this clear and balanced book, Stiglitz has contributed significantly to the debate on this important topic. --Shawn Carkonen
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