Why Globalization Works by Mr. Martin Wolf

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The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization's critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multi-national corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market, but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.

About Mr. Martin Wolf

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Martin Wolf is associate editor and chief economics commentator at the "Financial Times "in London. Formerly senior economist at the World Bank's division for international trade, he has worked in Kenya, Zambia, and India. He has been visiting professor at Oxford, Nottingham, and Rotterdam Universities and fellow of the World Economic Forum in Davos, Switzerland.
Published June 10, 2005 by Yale University Press. 416 pages
Genres: Business & Economics, Political & Social Sciences. Non-fiction

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For example, using aggregate figures he argues that workers in rich countries are paid more because they are much more productive than workers in poor countries are.

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Project MUSE

In the citizen's view, social change and economic development lead to both a rise in general welfare and more uncertainty about what to consider normatively correct and desirable concerning new role expectations in the age of globalization.

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