Globalization and Its Discontents Revisited. Anti-Globalization in the Era of Trump. Joseph E. Stiglitz (Author, Columbia University). Sign up for the monthly New. Buy Globalization and Its Discontents New Ed by Joseph Stiglitz (ISBN: ) from Amazon’s Book Store. Everyday low prices and free delivery on. Globalization and Its Discontents has ratings and reviews. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for.

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In this crucial expansion and update of his landmark bestseller, renowned economist and Nobel Prize winner Joseph E.

Stiglitz probably didn’t make many friends snd the International Monetary Fund IMF when this book was published in He focuses mainly on a relatively small part of globalisation, which is the monetary policy pursued by the IMF, which is based around inflation targeting.

To underline his point, Stiglitz compares the communism-to-market-economy process of China and Russia, and concludes that China’s slow approach has shown better results: Generally a good description of the way in which IMF and US Globaliwation policies have played out in the developing world from the s to Jul 04, beggs rated it really liked it Recommends it for: I thought it was a nice summary.

At the bottom, real wages are comparable to their level 60 years stiglktz. That is capitalism, after all. It came out shortly after the Seattle WTO protests and soon popped up on the bookshelves many of my development-minded friends.

It’s a great and easy read. Similar views are apparent in Europe.

Globalization and Its Discontents – Wikipedia

Jan 15, Avto Sofromadze added it. This book is brilliant expressions of the global financial and economic equilibrium for students who see the current world system. In the last parts of the book, Stiglitz makes some grave accusations when he implies that the IMF champions the special interest of the financial community.

Since Stiglitz was the World Bank’s Chief Economist for 3 of the years about which he is stigiltz, and therefore determined the Bank’s economic policy insofar as it is coherent enough to have one, one would think that he must have been a party to any Washington Consensus. You can’t build Rome in a day, but the Washington Consensus ideologues would have it that you can.

The main downer was the somewhat bash IMF tone, and Stiglitz gets somewhat repetitive towards the last couple of chapters.


Review of Globalization and its Discontents | PIIE

This means that the IMF has objectives that are often in conflict with each other []. The author emphasizes on initiating and ensuring democratic discoursing in international institutions, calling for discontemts end to behind-the-doors decision-making that has been stiglotz norm so far. And all the countries discomtents So, this is stkglitz of those books that I’ve been meaning to read for so long, and heard so many arguments around the same topic, that I almost thought I had read it.

While the critique of the IMF is the most persistent and coherent theme running through the book, the attack on globalization “done the wrong way” is broader. While this isn’t a bad thing necessarily, which is why I still give it 3 stars, I felt like it left much of the devastation of globalization untouched.

However, Stiglitz believes that if the national economy regulated by international institutions there could be an adverse effect. He starts out explaining that he believes globalization is a very powerful tool to improve our lives, that privatization, and market liberalization are very powerful tools.

The results of this alternative strategy were massively better. It turns out Stiglitz is very much not anti-globalization but wrote the book explaining why some might be. Then, inwhen the global impact of the East Asia crisis reached Russia, the IMF made again mistakes in Russia, when it decided to prop up the Russian rouble.

If you are looking for a popular introduction to macroeconomics, look elsewhere. This book is actually a character assassination of the IMF and the policies it implemented during the anx and 90s.

Some insightful information regarding the IMF, but it is catered to people who know these topics. No economist nowadays believes that there are long-run output gains to be had by running a higher inflation rate; Stiglitz’s concern is globalisqtion insisting on reducing inflation quickly when it is already reasonably low will have an output cost that is incommensurate with any benefit.

Incidentally, is it really the speed of trade liberalization that is the defining issue, as opposed to the need for import liberalization to be accompanied by a competitive exchange rate and adequate market access?

Mar 26, Andrew discontentd it Shelves: The right way globalisatiion, for example, to liberalize trade slowly and without side-agreements like TRIPS ; to privatize carefully; and to recognize that there are myriad different forms of market economy, including the Asian way in which governments rely on markets but take an active role in creating, shaping, and guiding them p.

He counters that Malaysia’s GDP growth rate had fallen much farther than the other countries listed by Stiglitz, down to 6. Free market, neoclassical, and neoliberal are all essentially euphemisms for the disastrous laissez-faire economics of the late 19th century. Basically, he thinks ddiscontents towards market economy were taken too fast.


I think everyone should read it the world over. May 31, Nicole Means rated it really liked it.

Globalization and Its Discontents

China was poorer that Russia at the start of the decade globaljsation much richer at the end of it. Dec 31, David Alexander rated it it was ok. Perhaps that creditor should have done better due-diligence and taken less risk?

It seemed a mystery: Globalization and its Discontents by Joseph E. He argues repeatedly that it has essentially abandoned this mission, and is now driven instead “as though” its mission were to advance the interests of financial capital. Just a moment while we sign you in to your Goodreads account. We have announced that for favored institutions there is to be little or no market discipline.

How many of his criticisms make sense? Stiglitz believes the IMF and World Bank should be reformed, not dismantled—with a growing population, malaria and AIDS pandemics, and global environmental challenges, Keynes’ mandate for equitable growth is more urgent now than ever. But he offers only assertions, not evidence, that IMF economists are more prone to stiiglitz malady than others, or that they fail globaoisation out-grow their silly training once they find themselves on the job.

We often hear how great globalization is and the abundance of wealth that it has provided to the world. How can something that our political leaders — and many an economist — said would make everyone better off be so reviled?

This got incentives right at the margin without discontente the old economy, so that a new market economy could grow up and expand without the old system imploding. Treasury department, used incorrect policies that resulted in suboptimal results. But perhaps we should not blame just the Fund for this. What is not part of capitalism is lending money to risky clients knowing that you will be bailed out if things go wrong.