Globalization and its Discontent

Author: Joseph Stiglitz
Publisher:
Publish Date: 2004-03-01
Features: This book narrates Stiglitz's experiences, opening a unprecedented window into global economic policies. It aims to spark healthy debates and has succeeded in doing so, for instance, it vividly illustrates with sharp words why developing countries always feel as if economic fortune is always against them. Over the past decade, Stiglitz has played a significant role in major economic events, including the Asian financial crisis, the transition of the former Soviet economy, and the management of development programs worldwide. He often observes policymakers clinging to outdated economic models and adopting the dogmas of the "Washington Consensus" built upon these models to design policies that have yielded disastrous consequences. He also finds that major global institutions attempt to conceal the mounting errors they make in incubating positive change, and this attempt is highly destructive.