Goods, ideas and people have crossed the globe for millennia but modern technologies and anti-capitalist protests have thrust the issue of globalisation into the spotlight. Will globalisation hurt workers in developing countries? Are some industries consolidating too rapidly? Is tax harmonisation just around the corner? In 10 years, will we all be watching "Oprah Winfrey" and shopping at Wal-Mart? This book is a collection of surveys and articles on globalisation that have appeared in The Economist. They cover a wide range of issues: migration; trade; culture; the influence of multinationals; the role of organisations such as the IMF, the World Bank, and the WTO; the spread of equity culture; taxation; inequality; the environment; and how technology is raising standards in the world's poorest countries. Together, through careful analysis of the facts, the articles discuss the case for globalisation. For anyone who wants an understanding of the conceptual and practical issues involved in this contentious subject there is no broader or more illuminating guide. It is divided into four parts and eight chapters as follows: The case for globalisationGlobalisation and its criticsPopular myths and economic factsThe business of globalisationThe spread of equity cultureGoodbye to taxpayersHow industries go globalRich and poorInequality, aid and the environmentThe uses of technology Governing the global economyReform of international financial architecture The authors are all Economist writers and include; Clive Crook, the Deputy Editor, Matthew Bishop, the New York Bureau Chief and author of Pocket Economist, John Peet, the Business-Affairs Editor, Zanny Minton Beddoes, Washington Economics Correspondent and Robert Guest, Africa Editor.
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About the Author
The authors are all Economist writers and include Bill Emmott, the editor, Clive Crook, the deputy editor, and John Micklethwait, co-author of The Witch Doctors and A Future Perfect.
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Most Helpful Customer Reviews
27 of 27 people found the following review helpful
Format:Hardcover
“Globalisation” has three high points, each of which stands out for a different reason.
First there’s Clive Crook’s self-confessed polemic in defence of globalisation. It’s a masterclass in rhetoric. Crook moves effortlessly across the range of the debate, from inequality to the power of big business, global institutions to national politics. He also blends theory (always nattily explained) with evidence (chosen well, but not too selectively). He gives ground when it is due and can tub-thump when he wants to. A one-sided contribution to the debate, certainly, but a thoughtful one.
Chapter two is “Popular Myths and Economic Facts”. This is an excellent and compact survey of different facets of globalisation, from migration to transport, media to foreign direct investment. The only pity is that the statistics, almost five years old, have not been updated (at the very least, in an appendix).
The third outstanding contribution is Robert Wade’s piece “By Invitation”, on inequality. Here Wade uses The Economist’s techniques: a thoughtful laying out of the evidence, followed by a clear and bold policy recommendation. But he argues for a position that The Economist would not normally take – that inequality, properly measured, probably is increasing, and furthermore poverty reduction is not enough: relative inequality is a problem even if the poor are getting richer.
First there’s Clive Crook’s self-confessed polemic in defence of globalisation. It’s a masterclass in rhetoric. Crook moves effortlessly across the range of the debate, from inequality to the power of big business, global institutions to national politics. He also blends theory (always nattily explained) with evidence (chosen well, but not too selectively). He gives ground when it is due and can tub-thump when he wants to. A one-sided contribution to the debate, certainly, but a thoughtful one.
Chapter two is “Popular Myths and Economic Facts”. This is an excellent and compact survey of different facets of globalisation, from migration to transport, media to foreign direct investment. The only pity is that the statistics, almost five years old, have not been updated (at the very least, in an appendix).
The third outstanding contribution is Robert Wade’s piece “By Invitation”, on inequality. Here Wade uses The Economist’s techniques: a thoughtful laying out of the evidence, followed by a clear and bold policy recommendation. But he argues for a position that The Economist would not normally take – that inequality, properly measured, probably is increasing, and furthermore poverty reduction is not enough: relative inequality is a problem even if the poor are getting richer.
The rest of the book has some impressive elements but is less than the sum of its parts. There’s a survey on taxation, one on equity markets, one on international financial architecture, and some thought-provoking stuff on the uses of technology. There are some nice short articles on how different industries (wine, oil, retail, law) have been wrestling with globalisation.
I found much of the survey on equity informative about the facts, but unpersuasive about the implications. Author John Peet asserts that an equity culture is preferable to a system based around banks – partly because banks, with their deposit insurance, are subject to “moral hazard”. Well, maybe – but it’s not enough to count the costs of banking and not the benefits. An entrepreneurial culture needs risk-sharing institutions, even if they do lead to moral hazard. (The limited liability company, of which The Economic Newspaper Ltd. is a case in point, is another example!)
Another relative weakness in the book is a lack of treatment of environmental issues. “Skeptical Environmentalist” author Bjorn Lomborg writes a persuasive account of one side of the story, but it might have been more persuasive yet if one of his opponents had been given an opportunity to reply. Lomborg’s piece is a good start to the debate, but on other subjects this book is both broader and deeper.
I am still looking for somebody to write the definitive book on globalisation: thoughtful, wide-ranging, stylishly written and properly structured. This book has the first three qualities in spades – good enough to stand out from the rest of the field.
Most Helpful Customer Reviews on Amazon.com (beta)
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12 of 12 people found the following review helpful
5.0 out of 5 stars
The best on globalization
1 July 2003
By N. Tsafos
- Published on Amazon.com
Format:Hardcover
This book, which is a compilation of articles from The Economist, is one of the most insightful texts on the mechanics of globalization.
The book is written in the refreshing style of The Economist: concise, factually precise, and opinionated. First, it makes the liberal case for globalization, tracing the benefits of international exchange and competition to the classical economists; and it supports that case with logic and numbers.
Then, one by one, it discusses equity markets, tax policies, global businesses, inequality, aid, the environment, technology and international finance. In the process, this book puts together an impressive collection of facts: it asks the question "what are people saying about globalization" and then evaluates perceptions and prescriptions against data from think-tanks and academics.
This balance between theory and fact makes the book appealing. Globalization could not have a more articulate advocate than The Economist, and this book includes the best articles that have appeared in the magazine; if one had to read only one book on globalization, this should be it.
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