"Globalization and its Discontents"

Paper Summary:

The paper is a critical review of Joseph Stiglitz's book "Globalization and Its Discontents" (2002). The text represents a critical overview of one of the most controversial and complex issues today: the increasing globalization of business in the form of financial and trading markets and the weaknesses of nation-states in this new economic paradigm. The paper explains what globalization means in practice. The main argument of the paper, however, is that the text is is flawed by the the fact that the author was one of the defining players of US economic policy during a critical period and cannot be unbiased.

From the Paper:

"The object of this book review is Joseph Stiglitz' Globalization and its Discontents (2002). This text represents a critical overview of one of the most controversial and complex issues of our time: the increasing globalization of business in the form of financial and trading markets, and the weaknesses of nation states in this new economic paradigm. Given that this is a critical review, it will be argued that Stiglitz' text, for all of its valuable insights into the processes of globalization, is flawed in one key respect. Although the author presents a range of critiques of globalization that, as will be seen, are supported by other critics, the fact that he was one of the defining players of US economic policy during a critical period.."

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