Tuesday, May 08, 2007

Making Globalisation Work

Joseph Stiglitz (ex chief economist of the world bank as well as a nobel economics prize winner) gives his view of what is wrong with the current international economics system as well as what should be done in order to address some of the structural inequalities that exist. If anyone is curious as to why the third world seems to be beyond hope then they should read this book - it presents quite a balanced (my view of course) view of what the problems are. Best of all, Stiglitz presents some suggestions for reform of the current system which seem pretty reasonable to me although I dare say that the devil is in the detail. Interestingly much of this book seems to resonate with "The Growth Illusion" although Stiglitz fundamentally seems to believe in economic growth as the solution whereas "The Growth Illusion" questions the fundamentals of economic growth as a driver of living standards. Highly recommended reading although not exactly easy going.

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