Why Globalization Works For America

A powerful case for the global market economy 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 multinational 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.

Blue-collar job loss, immigration, trade deficits—Americans blame globalization for a host of problems. Indeed, even in a political system split by fundamental divisions, populists and progressives alike belong to a chorus that decries globalization’s effects on our politics, way of life, and interactions with the world. Yet the United States is the biggest beneficiary of the global economy it has helped to create. Edward Goldberg argues that globalization is the economic and cultural version of evolution, a natural process that pushes people into more efficient behavior influenced by the market and our human need to explore, change, and grow. Properly implemented, it propels cultures and societies forward as one new idea challenges or blends into another. Harmful nationalist policies have arisen because Americans do not equally share globalization’s benefits, a situation made worse by the government’s refusal to implement policies that would mitigate the rampant inequalities. A bold challenge to popular opinion, Why Globalization Works for America offers a historically informed analysis of why we should celebrate globalization’s place in our lives.

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.

*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.

In the passionate debate that currently rages over globalization, critics have been heard blaming it for a host of ills afflicting poorer nations, everything from child labor to environmental degradation and cultural homogenization. Now Jagdish Bhagwati, the internationally renowned economist, takes on the critics, revealing that globalization, when properly governed, is in fact the most powerful force for social good in the world today. Drawing on his unparalleled knowledge of international and development economics, Bhagwati explains why the "gotcha" examples of the critics are often not as compelling as they seem. With the wit and wisdom for which he is renowned, Bhagwati convincingly shows that globalization is part of the solution, not part of the problem. This edition features a new afterword by the author, in which he counters recent writings by prominent journalist Thomas Friedman and the Nobel Laureate economist Paul Samuelson and argues that current anxieties about the economic implications of globalization are just as unfounded as were the concerns about its social effects.

This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national bestseller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. 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. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

This book looks at facets in the history of capitalism from the Enlightenment period, through the emergence of the American Empire in the Pacific, and to the contemporary era of neoliberal globalization. This re-telling of history is done by drawing from the works of E. San Juan, Jr. (henceforth, San Juan), considered arguably one of the great contemporary cultural and literary critics of our time. In this author's view, San Juan's lifetime of works offer a living documentation of, among others, the history and thought of the modern world highlighted by the rise of capitalism through the contemporary era of neoliberal globalization, and shepherded to its hegemonic status by what stands today as the preeminent empire of the United States. The book underscores the symbiosis between contemporary capitalism as an economic system based on accumulation on the one hand, and the American imperial state on the other, just as it revisits the colonial project that was carried out in capitalism's wake, the violence and subjugation inflicted on its victims, and how this colonial project has morphed into a new form of colonialism (or neocolonialism) maintained and enforced through the rules and institutional mechanisms of what is popularly known as neoliberal globalization that also provides the ideological and legal rationale for the commodification and the ultimate grab of the global commons reminiscent of the classical, albeit cruder, form of colonialism.

"What is to be done? That is the issue political movements, social thinkers, economists, and governments all over the world must now confront. Without trying to propose specific policies, the author puts forward a highly suggestive set of principles and ideas."--BOOK JACKET.