Top positive review
15 people found this helpful
ALL men are created equal, and FAIR trade instead of free trade
on 27 October 2006
For J. Stiglitz, it is a compelling moral case to make globalization work, especially for the poor and the developing countries.
The actual rules of the globalization game have been set by the developed countries in order to protect special individual, corporate and financial interests.
The author sees 6 areas where dramatic changes (with a huge potential of dramatic results) are necessary for the global well-being of our planet.
Poverty relief: it is a shame that billions of human beings are still living in abject conditions. Speaking of intellectual property rights in their face is a deadly joke.
Debt relief and legal help: diminish or eliminate the debt burden of the poorest countries and help the developing countries in creating environmental, judicial, anti-bribery and anti- bank secrecy laws in order to fight corruption.
Fair trade: a fair trade regime is one without subsidies and trade restrictions.
Limitation of liberalization: Markets are not perfect. Therefore, governments must have an active economic role (infrastructure, education, a sound financial and judicial system, a social safety net).
Environmental protection: measures to stop and reduce global warming
A global governance system: a new global social contract, an International Trade Tribunal, an International Bankruptcy Court, a new Global Monetary Reserve System.
The democratic deficit should be compensated by giving the developing countries more voice in the running of the IMF, the World Bank and the WTO. The draconic anti-Keynesian policies of the IMF should be stopped.
Overall, more transparency, less arms sales and certification of origin are needed.
All those measures should hugely benefit the developing AND the developed countries, although special interests would be hit. Hereafter, a few examples.
Elimination of agricultural subsidies would greatly benefit producers in developing countries and consumers in developed countries. Immigration would dramatically slow. There would be more legal than real fighting. And, last but not least, our planet could be saved.
J. Stiglitz stresses rightly that economic globalization outpaces the political one.
He is especially hard for his home country, `the deficit of last resort'.
This book, written by a superb free mind, should have a long lasting effect on world matters.
It is a must read for all those interested in the future of our planet.