Making Globalization Work
Stiglitz's seminalGlobalization and Its Discontents(2002) argued that globalization has not benefited as many people as it could, a failure attributable to structural flaws in international financial institutions as well as limited information and imperfect competition. With this selection, the Nobel Prize-winning economist suggests a host of solutions by which globalization can be "saved from its advocates" and made safe and worthwhile for the poor and rich alike. Each chapter examines, in some depth, an obstacle to equitable globalization (the burden of massive national debt, for example) and provides a set of possible solutions (a return to countercyclical lending and development of international bankruptcy laws, for example). Many of Stiglitz's proposals echo the familiar litanies of developing nations in the Doha round of international trade talks, but several, such as those drawing upon East Asia's experiments in contained progress, are innovative enough to warrant books of their own. Fairly accessible for a work of macroeconomics, this is a worthy counterpoint to Thomas Friedman's popularThe World Is Flat(2005).Brendan DriscollCopyright © American Library Association. All rights reserved