Saturday, July 14, 2012

Stiglitz, Globalization and Its Discontents (2002)

Joseph Stiglitz.
Globalization and Its Discontents.
New York: W. W. Norton & Company, 2002; paperback reprint 2003.

Book information:
Publisher; Google Books; Amazon.com; Wikipedia on the Book; Joseph Stiglitz, Wikipedia; Joseph Stiglitz, Columbia University.

Stiglitz's book is not about Globalization itself. For readers interested in an introductory survey of economic Globalization I strongly recommend the book by Peter Dicken described below. Stigllitz's book is about a side-effect of Globalization, namely the global flows of financial capital which can have very short-term investment horizons and the financial panics that occur when short-term speculative ("hot") money abandons a country. More particularly, Stiglitz's topic is the inability of international financial regulatory organizations to control or ameliorate the financial damages caused by short-term speculative finance, especially the International Monetary Fund. Stiglitz's book focuses on IMF policy failures during the financial crises of 1997-1998. For a narrative history of the financial crises of 1997-1998 see the Wikipedia articles below and the book by Paul Blustein described below.

1997 Asian financial crisis, Wikipedia.
1998 Russian financial crisis, Wikipedia.
Long-Term Capital Management, Wikipedia.
Samba effect (Brazil 1999), Wikipedia.
International Monetary Fund, Wikipedia.
International Monetary Fund.

Peter Dicken. Global Shift: Mapping the Changing Contours of the World Economy, sixth edition. New York: The Guilford Press, 2011.
[Publisher; Google Books; Amazon.com; Peter Dicken, Wikipedia; Peter Dicken, The University of Manchester.]

Paul Blustein. The Chastening: Inside the Crisis that Rocked the Global Financial System and Humbled the IMF. New York: PublicAffairs / Perseus Books Group, 2001; paperback reprint 2003.
[Publisher, PublicAffairs; Publisher, Perseus Books Group; Google Books; Amazon.com; C-SPAN Video, 24 Sept 2001.]

Monday, July 09, 2012

Spence, The Next Convergence (2011)

Michael Spence.
The Next Convergence: The Future of Economic Growth in a Multispeed World.
New York: Farrar, Straus and Giroux / Macmillan, 2011.

Book information: Publisher; Google Books; Amazon.com.

This book is an outgrowth of the author's work as chairman of the "Commission on Growth and Development" (Wikipedia; original website, archived; current website at the World Bank). The figues in The Next Convergence are poor black-and-white copies of the original color figues in the Commission's reports. Readers can download the Comission's reports for free from its website(s) (rather than purchasing Spence's book). Videos describing the Commission's findings also available.

Some Michael Spence links:
Michael Spence, Wikipedia
A. Michael Spence, Graduate School of Business, Stanford University
Michael Spence, Hoover Institution, Stanford University