Globalization and Its Discontents

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W. W. Norton & Company, 2002 - Political Science - 282 pages
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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. 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.
 

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Contents

The Promise of Global Institutions
3
Broken Promises
23
Freedom to Choose?
53
The East Asia Crisis How IMF Policies Brought the World to the Verge of a Global Meltdown
89
Who Lost Russia?
133
Unfair Trade Laws and Other Mischief
166
Better Roads to the Market
180
The IMFs Other Agenda
195
The Way Ahead
214
Notes
253
Index
269
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About the author (2002)

Joseph Stiglitz is professor of economics at Columbia University.

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