Making Globalization Work

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Making Globalization Work^[1]^[2] is a book written by Nobel Prize-winning author of Globalization and Its Discontents, Joseph E. Stiglitz.

Stiglitz, who won the Nobel Prize in Economics in 2001, has focused this book primarily on the economics of globalization. While addressing the economic issues, Stiglitz discusses problems arising out of globalization, and offers suggestions for solutions where they exist. Many of these issues portend devastating consequences for societies in developed and developing countries alike, for the environment, and much more. His hope is that his solutions will provide the reader with hope and insight on future. His preceding book, Globalization and Its Discontents, is described as a work that “draws on Stiglitz's personal experience as chairman of the Council of Economic Advisers under Bill Clinton from 1993 and chief economist at the World Bank from 1997.” Making Globalization Work follows on from this and focuses on the events taking place from 2001-2006, including the progression of the positive and negative effects of globalization, while analyzing and offering information about the future prognosis of the world.

Aiming to be a practical vision for a successful and equitable world, the book draws equally from his academic and practical work in countries around the world. Stiglitz focuses on policies that have been shown to work, offering suggestions about the questions that shape the globalization debate, including a plan to restructure a global financial system made unstable by America’s debt, ideas for how countries can grow without degrading the environment, and a framework for free and fair global trade.

[edit] Reviews

It is good to hear the arguments of Third World nations about this inequitable state of affairs. Americans should hear them more often. But Stiglitz is hardly evenhanded; he is making a case. He brushes aside rich-country bellyaches, such as the U.S. trade deficit with China. He caricatures the views of his opponents, saying they believe that their undiluted version of free trade will make everyone better off, when what they actually believe is that by lowering prices it will make most people better off. Stiglitz highlights the flaws of markets, but he is not equally tough on the deficiencies of government economic policies or the failures of foreign aid. His book is flavored with a deep distaste for inequality.

– Bruce Ramsey, The Seattle Times^[3]

Likelihood of becoming a Hollywood blockbuster: Not a Hollywood blockbuster, but an outstanding bestseller certainly, one that will again rile many in western political office and the economic community. Dr. Stiglitz's open, honest style of writing and appeal to experts and non-experts alike – coupled with the ever-heightened debate over globalization – will guarantee this book's enduring success.

– Chris Wilson, InTheNews.Co.UK^[4]

Attacking the idea of free-for-all markets in a superfluous debate with conservative purists only overshadows Dr. Stiglitz’s practical suggestions, like adding labour and environmental ministers to trade negotiations.

– Stephen Kotkin, The New York Times

What the world needs is not another book on the failures of ill-defined globalisation. What we need is hope.

– Bill Jamieson, The Scotsman

Joseph Stiglitz’s new book, Making Globalization Work, is an imaginative and, above all, practical vision for a successful and equitable world.

– World Affairs Council