Globalization and Its Discontents by Joseph E. Stiglitz

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Synopsis

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. 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.
 

About Joseph E. Stiglitz

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Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the best-selling author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.
 
Published April 17, 2003 by W. W. Norton & Company. 306 pages
Genres: Business & Economics, Political & Social Sciences, Professional & Technical. Non-fiction
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Unrated Critic Reviews for Globalization and Its Discontents

Kirkus Reviews

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An insider's account of the ill-considered effort to make a free market of the Third World, an effort that, described here, favors the rich and robs the poor.

May 20 2010 | Read Full Review of Globalization and Its Discont...

The New York Times

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Yet he seems to assume that bumping policies up to the international level will make world economic institutions less captive to the special interests he abhors — though democratic control of policy is more likely at a national than an international level, since most national politicians must fac...

Dec 24 2006 | Read Full Review of Globalization and Its Discont...

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The New York Review of Books

By including patent protection in the World Trade Organization, he writes, American and European negotiators signed a “death warrant for thousands of people in the poorest countries of the world.” Pharmaceutical companies should be forced to sell life-preserving drugs to poor countries at near co...

Apr 17 2008 | Read Full Review of Globalization and Its Discont...

Project MUSE

In the East Asia crisis, when the IMF's liberal foreign investment policies led to huge outflows of capital from the affected countries, Stiglitz suggests that it was those countries in the region — notably Malaysia, China and India — which refused to implement IMF policies and introduced tempora...

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Project MUSE

In particular, Stiglitz is highly critical of the strong medicine approach used with regard to the ex-Soviet Union in the early 1990s and the disastrous consequences for the new Russia and other related countries.

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Project MUSE

Globalization and Its Discontents is an indictment of the policies of the International Monetary Fund (IMF), the U.S. Treasury Department, and related international institutions that push dogmatic "free market" policies onto developing countries.

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eInternational Relations

Stiglitz is unequivocal in his analysis that the policies of the international institutions charged with managing global financial stability and supporting stricken countries retarded the growth of countries during the 1980s and 1990s, particularly in Sub-Saharan Africa and East Asia.

Nov 09 2011 | Read Full Review of Globalization and Its Discont...

Mises Institute

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