Globalization accelerates technological change in a developing country, bringing enormous benefits as well as disruptions. Advocacy of some controls on capital movements, deemed heresy just two short years ago, has become commonplace. This is where the action is. His fine book is a start in that direction. But we can only hope that the openness he advocates for economies also applies to our minds and that in his prestigious column and subsequent books he becomes more open to some of the new currents of thought on globalization.
Few issues are more important.
Thomas R. DeGregori is a professor of economics at the University of Houston .