The Economics of Globalization
Book
Hardback
300 pages
978-1-4051-8357-4 (ISBN)
Description
"The Economics of Globalisation" is a compact, concise and non-technical undergraduate textbook that treats the Economics of Globalisation in an open - i.e. absolutely non-dogmatic and non-aprioristic - way, by verifying whether the many objections raised against globalisation by the "civil society" have an economic content and foundation. By assigning an appropriate space to the commercial and financial policies and to real life case studies and experiences, other than theories, the book enable the student to understand the main aspects of the contemporary "Economics of Globalisation", while making clear that on some critical issues economic theory may provide several distinct and equally plausible views, as it is explicitly recognised also by orthodox authors. Although non-technical, the method followed in the text is well grounded on economic theories - including those recognising the crucial role of market imperfections, rigidities and inefficiencies that have been developed, among others, by economists like Joseph Stiglitz, Amartya Sen and Daniel Kahnemann, all of them winners of the Nobel prize in Economics for their path-breaking contributions.
The textbook surveys in a balanced way the different approaches towards globalization by making clear, for example, the main differences between Bhagwati's and Stiglitz's views. Once the different approaches are made explicit, the student will be able to take her/his own individual position by weighing the pros and cons of globalization according to her/his own perceptions and sensibility.
The textbook surveys in a balanced way the different approaches towards globalization by making clear, for example, the main differences between Bhagwati's and Stiglitz's views. Once the different approaches are made explicit, the student will be able to take her/his own individual position by weighing the pros and cons of globalization according to her/his own perceptions and sensibility.
More details
Language
English
Place of publication
Chicester
United Kingdom
Publishing group
John Wiley and Sons Ltd
Target group
Professional and scholarly
ISBN-13
978-1-4051-8357-4 (9781405183574)
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Schweitzer Classification
Person
Pompeo Della Posta is an Associate Prof, Dept of Economics, Univ. of Pisa, Italy. He has a PhD from the European Univ Institute in Florence, 1997 (and where all instruction is in English); he has a MA from the U of Warwick, 1988. He is a citizen of Italy. He has been a visiting student at Princeton and Stanford (a year at each).
Content
Introduction. This section introduces the book and raises the main questions posed by the current phase of globalization. . I - What is globalisation and when did it really start? A historical perspective. . This first chapter provides some possible definitions of globalization so as to allow (at least in principle) the identification of its starting point and of the different phases that have been taking place over time. . II - Theoretical principles behind the globalisation of goods markets. . This chapter reviews in a non-technical way the main theoretical foundations for free trade and the problems that they raise. . III - Theoretical principles behind the globalisation of financial markets. . This chapter reviews the main theoretical reasons in favour of financial liberalization and addresses the problems originating from it. . IV - The effects of Globalisation on poverty and inequality, on the environment and on social standards. . This chapter surveys the empirical and anecdotal evidence about the effects of globalization on different aspects and attempts an overall evaluation... V - Asymmetric globalisation: are economic theories applied correctly?. . This chapter analyzes how globalization is currently proceeding. It argues that globalization is characterized by many asymmetries that may be the reason for its many "discontents".. . VI - Is the economic international system well designed? The critical role of the WTO, the IMF and the WB in guaranteeing efficiency, stability and equity at the international level. . In recent years the so called "civil society" has raised many critics against the triad of international institutions guiding the world economy. This chapter considers these critics and attempts an evaluation of their seriousness. . VII - Is Regionalism to be preferred to Multilateralism?. . Some commentators argue that the process of regionalisation that has been characterising the most recent decades may slow down the process of globalization. Others argue that regionalism favours it in the long run. This chapter presents in a critical way the different points of view. . VIII - A final overview: the main points of dissatisfaction with the current phase of globalisation. This final chapter contrasts and compares, just to provide a clear example of the different points of view, Baghwati's with Stiglitz's position. It also evaluates in a critical way (for example by reporting the position taken by Paul Krugman and by "The Economist") some of the responses to globalization provided by the "civil society", like for example fair trade and microfinance.