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Globalization and Progressive Economic Policy Paperback – 5 Nov 1998


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Product details

  • Paperback: 532 pages
  • Publisher: Cambridge University Press (5 Nov. 1998)
  • Language: English
  • ISBN-10: 0521643767
  • ISBN-13: 978-0521643764
  • Product Dimensions: 15.2 x 3 x 22.8 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 1,364,616 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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'This book on globalisation stands out for its breadth of coverage, the quality of its contents and for the unusual perspectives it provides on the subject. The book shows how to understand the costs and benefits of globalisation and what citizens and governments should do to ensure that economic justice and economic stability are not among its casualties. A 'must-read' for scholars, students and policy-makers.' Ajit Singh, University of Cambridge

'Here is a book that will force you to reconsider much of what you think you know about policy in a globalized economy. Even if you do not agree with the conclusions, you will be enriched for having pondered these unconventional perspectives.' Dani Rodrik, Harvard University

'This book sheds valuable light on understanding the central role international financial liberalisation has played in the recent Asian economic crisis, and on predicting what will be the consequences of the neo-liberal policies the IMF has imposed on Korea, Thailand and Indonesia. More importantly, the book provides many progressive policy ideas to those of us who have been bewildered by the propaganda that 'there is no alternative' to neo-liberalism.' Soo Haeng Kim, Seoul National University

'Amidst the hype and half-truths about globalization, this collection stands out for its richly documented and path-breaking analysis. Destined to become the standard against which future critical analyses of the global economy are judged, this book is ideal for course use and is a must-have for the libraries of all social scientists interested in these critical issues.' Juliet B. Schor, Harvard University

'The editors of and contributors to this compelling new book go far beyond the numbers, to set out and debate big ideas about the history of capitalist development in the twentieth century. Does the present revival of free markets - the neoliberal regime - constitutes a welcome return to the generally benign processes of global integration that preceded World War I? Or does it represent a dangerous undermining of the socially solidaristic embedding of market forces that was the great invention of the post World War II welfare state? As this book shows, the reappearance of all the old problems of political and economic instability and worsening inequality strongly support the second interpretation. Without new forms of state regulation such as those described in this volume, unfettered global capitalism threatens to wreck havoc with balanced, civilized, equitable economic growth.' Bennett Harrison, New School for Social Research

'In this excellent collection, 37 contributors from around the world study the World Bank, the IMF, the multinational corporations, movement of capital, goods and labour and the possibilities of national economic renewal.' Morning Star

Book Description

In Globalization and Progressive Economic Policy, prominent economists analyze the impact of the emerging global economy on national sovereignty and standards of living. Analyzing problems, institutions and possible government responses, they conclude that globalization's impact depends on the degree of regulation that governments and citizens can exercise over its trajectory.

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The evolution of capitalist economies has always been intimately bound up with nation-states and national economic policies. Read the first page
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1 of 1 people found the following review helpful By William Podmore on 12 May 2001
Format: Paperback
In this excellent collection, 37 contributors from around the world study the World Bank, the IMF, the multinational corporations, movements of capital, goods and labour, and the possibilities of national economic renewal. David Felix points out that the financial liberalisation of recent decades has led to slower growth of output, investment and productivity. Mehrene Larudee observes that Mexico, for instance, grew 6% a year with the industrialisation and protectionist policies of 1951-81; when it joined NAFTA, the economy, jobs and wages all shrank. Ha-joon Chang suggests that workers in multinational corporations have a far stronger bargaining position than employers make out. These firms often threaten to move, but rarely do. They have high sunk costs in physical plant, infrastructure, subcontracted production networks and services, skilled workers, local knowledge. Workers can take control of our workplaces, industries and countries. We can impose capital controls and reinvest the wealth we create in productive industry. 'Globalisation', like the idea of God, is a ghost to frighten us. Eban Goodstein proves that protecting the environment does not destroy jobs, contrary to employer propaganda. Gregory DeFreitas argues against an open borders policy, while also opposing racial biases in immigration policy. He notes, "emigration represents a subsidy to the receiving country from the nation that trained them, as well as a loss of valuable talents to their homeland." Arthur McEwan sums up the book's findings: "The neo-liberal regime that is being imposed on the world economy by the Bretton Woods institutions, the US government and other powerful public and private actors is doing a great deal of damage.Read more ›
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7 of 7 people found the following review helpful
Against the globalisation bogy 17 May 2001
By William Podmore - Published on Amazon.com
Format: Paperback
In this excellent collection, 37 contributors from around the world study the World Bank, the IMF, the multinational corporations, movements of capital, goods and labour, and the possibilities of national economic renewal. David Felix points out that the financial liberalisation of recent decades has led to slower growth of output, investment and productivity. Mehrene Larudee observes that Mexico, for instance, grew 6% a year with the industrialisation and protectionist policies of 1951-81; when it joined NAFTA, the economy, jobs and wages all shrank. Ha-joon Chang suggests that workers in multinational corporations have a far stronger bargaining position than employers make out. These firms often threaten to move, but rarely do. They have high sunk costs in physical plant, infrastructure, subcontracted production networks and services, skilled workers, local knowledge. Workers can take control of our workplaces, industries and countries. We can impose capital controls and reinvest the wealth we create in productive industry. `Globalisation', like the idea of God, is a ghost to frighten us. Eban Goodstein proves that protecting the environment does not destroy jobs, contrary to employer propaganda. Gregory DeFreitas argues against an open borders policy, while also opposing racial biases in immigration policy. He notes, "emigration represents a subsidy to the receiving country from the nation that trained them, as well as a loss of valuable talents to their homeland."
Arthur McEwan sums up the book's findings: "The neo-liberal regime that is being imposed on the world economy by the Bretton Woods institutions, the US government and other powerful public and private actors is doing a great deal of damage. It is a regime that harms people in all sorts of ways in the name of economic growth, but it does not even do very well at providing economic growth. The reign of neo-liberalism has not come about as some inevitable historical process, but has been actively constructed by the powerful actors that gain from its establishment. Alternatives exist, and the alternatives tend to work better."
Very insightful 1 Oct. 2010
By Steven Marton - Published on Amazon.com
Format: Paperback Verified Purchase
Very insightful book. If only more people would read stuff like this. It offers perspectives from the negative side of the globalization argument that most people are unaware of. Unfortunately at times it does feel one-sided as well, maybe not presenting some of the positives. Nevertheless, facts are facts, and if you want to be informed you have to be aware of them. Maybe pick up another book to balance this a bit :)

Small warning: I believe this is a college textbook more than anything. It is a collection of papers written by various economists around the world. Therefore it can be long, dry, and definitely not light reading. But if you're hungry for information, this is it!
1 of 3 people found the following review helpful
Interesting but not systemetic 26 Oct. 2001
By Suckwoo Lee - Published on Amazon.com
Format: Paperback
I read this book in a graduate class on globalization. The word ¡®progressive¡¯ in the title refers to the perspective of political economy ie, not the one of neoclassical or neo-liberalist. Arguments from economists, in particular political economists on globalization are somewhat hard to see. Authors focused on side effects of globalization. Their perspectives vary but they can be labeled as the view of ¡®race to the bottom¡¯ against optimistic views of neo-liberalist. It¡¯s interesting to see what should be done against hard economic trend, globalization from the perspective of losers not winners. And this book has wide coverage from IMF, World Bank to TNCs, Global financial market, inequality. But I should point out some weakness of the book.
1. They doesn¡¯t offer any explanation on what caused the globalization at all. Globalization is presented as mere background to draw their conclusions. Some Marxist schools explained the process of globalization in terms of the diminishing rate of profit. But this book lacks such logics. I think the purpose of this book, offering alternative policy to speed down the process of globalization, drove authors in that direction.
2. My major is not economics but economic sociology. So I had some difficulties to follow all lines of the economists. But it¡¯s not wholly my fault. I have had no such difficulty with economic journals like The Economist. The explanation of economic phenomena which are mainly macroeconomic one, is not kind to reader. I think authors assumed that this book would be read by expert policy makers not by mundane students.
6 of 17 people found the following review helpful
Alternatives to Neoliberalism 25 April 1999
By Ian Murray - Published on Amazon.com
Format: Paperback
Neoliberalism is bankrupt and corrput! This book offers the most sensible near and medium term policy options and solutions that will benefit both humans and nature until Global Capital wakes up to it's REAL responsibilities. The ecoonomic data and analysis exhibit robustness and considerable explanatory power. The prescriptions are excellent recipes for realistic change...
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