Globalization and Its Discontents has ratings and reviews. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for. The main message of Globalization and its Discontents was that the problem Joseph E. Stiglitz, a Nobel laureate in economics, is University. “Globalisation in is different from globalisation in ,” argues Nobel prize -winning economist Joseph E Stiglitz in Globalization and its.

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The author emphasizes on initiating and ensuring democratic discoursing in international institutions, calling for an end to behind-the-doors decision-making that has been the norm so far. When it was first published, discontentz national bestseller quickly became a touchstone in the globalization debate. However one swings on this debate, Rogoff’s lively rejoinder to this book is, I think, essential bj.

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.

See 1 question about Globalization and Its Discontents…. Those companies entered hard times when the crises broke out.

In discontrnts US, Congressional Republicans even opposed assistance to those who were directly hurt by globalization. I was trying to understand why the world economy seemed to be collapsing. Globalization is not the only reason, but it is one of the reasons. Joseph Stiglitz is the sort of thinker who can appeal to pretty much everyone on the political spectrum, conservative, liberal, and leftist.

Perhaps Stiglitz hopes that the empathy he expresses for their position will win the anti-globalists to his side, so that they will endorse the itss positions he espouses in favor of gradual trade liberalization, careful privatization, some version of the discontdnts economy, and so on. He sees this as needing a rebalancing of the voting rights between the main industrial countries and the developing countries, discontentss he expresses skepticism about achieving any major changes in the short run.


Published by Norton first published So let me appeal instead to my credentials as a former student of Fritz Machlup to assert that there should at least be a measure of consistency in the way that terms are used. They differed only as to whether those changes should be obtained through government led planning or unfettered markets.

‘Globalization and its Discontents Revisited’: Joseph E Stiglitz on the state of the world

The good professor has done a remarkable job here. Among the globallsation losers — those who gained little or nothing — were those at the bottom and the middle and working classes in the advanced countries. As it happens, that is pretty much the intellectual position staked out by Stiglitz in this book, except that he doggedly refuses to recognize that many of the ideas that were widespread before were about as misguided as the market fundamentalist agenda that he attacks.

You seem to believe that when investors are no longer willing to hold a government’s debt, all that needs to be done is to globalisatkon the supply and it will sell like stigitz cakes.

Sep 07, Prithvi Shams rated it really liked it.

No trivia or quizzes yet. The results of this alternative strategy were massively better. The wrong way is to follow the dictates of the Washington Consensus, which is also variously referred to as market fundamentalism or neoliberalism. It certainly stands as the most forceful argument that has yet been made against the IMF and its policies. Views Read Edit View history. I’m a dope when it comes to economics, but my impression is that this book has been hugely influential among the anti-corporate globalization crowd.


Nevertheless, four stars for the following points that Stiglitz makes: Also strong regulation basically doesn’t exist. Stiglitz argues that itx part of ioseph solution is improving bankruptcy rules. Stiglitz argues that IMF policies contributed to vy about the East Asian financial crisisas well as the Argentine economic crisis.

Globalization and Its Discontents – Wikipedia

But for all that, there have unquestionably been times and places-again East Asia leaps to mind-when globallsation IMF sought unnecessary and counterproductive fiscal deflation. Many neoliberal economists, confronted with surging support for populists in Europe and the US, remain convinced that everyone really is benefiting from globalization; they just don’t know it.

Just a moment while we sign you in to your Goodreads account. Nowhere was the willingness to take on new roles for which it lacked comparative advantage more evident than in the central responsibility stiglifz acquired for managing the transition in the former Communist economies. I found the section of the Asian Financial Crisis the most poignant because shortly after I finished the book I b to Bangkok, the epicenter of the crisis.