Globalization and Progressive Economic Policy

In Globalization and Progressive Economic Policy thirty six prominent economists analyze the impact of the emerging global economy on our national sovereignty and standards of living Does globalization cause inequality Instability Unemployment Environmenal degradation Or is it an engine of prosperity and wealth for the vast majority of the world s citizens The authors analyze problems institutions and possible government responses and conclude that globalization can be a force for good or ill depending on the degree of regulation that governments and citizens can exercise over its trajectory The authors of this book challenge mainstream thinking about the nature of globalization While not hostile to markets per se they believe that capitalist market processes left to operate freely tend to generate injustice insecurity instability and inefficiency Taking account of the new realities of globalization this volume explores an unusually wide range of subjects including trade integration multinational corporations labor markets and migration international capital flows macroeconomic and environmental policy and the central roles of the IMF and World Bank It proposes alternatives to neo liberal orthodoxy developing policy measures that counter the destructive features of markets and promote equality as well as efficiency The approach in this volume is particularly illuminating for understanding the Asian financial collapse of 199798 and similar recent crises The volume also includes comments on each chapter by a wide range of distinguished economists producing a lively and often controversial set of interchanges The writers in this anthology challenge mainstream thinking about the nature of globalization While not hostile to markets per se they believe that capitalist market processes left to operate freely tend to generate injustice insecurity instability and inefficiency