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Professional Banker Magazine:
Making Globalization Work The Next Steps to Global Justice
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Stiglitz's book is thought-provoking and tries to bring the reader to the very crux of the ailing globalization process. He highlights the findings of the World Commission on the Social Dimension of Globalization, which startlingly uncovered the rise of unemployment in many regions of the world, except South Asia, the US, and the European Union during 1990-2002. Stiglitz is concerned that the rules of globalization are unfair and that they are drafted to benefit the advanced industrial nations due to which some of the poor countries are worse off.

One of the world's well-known economists Joseph Stiglitz has authored the book Making Globalization Work as a sequel to Globalization and its Discontents. The Nobel Prize-winning economist had stirred raging debates by his criticism of the globalization process that took over the world since the early 1990s after the publication of Globalization and its Discontents. In this book, Stiglitz was critical of the functioning of institutions like the IMF in tackling the East Asia crisis of 1997-1998. The former Chief Economist of the World Bank also did not spare the US Treasury and the western world for their perception of implementing globalization. Is Stiglitz against globalization? The answer has to be no as he wrote, "I believe that globalization …..the removal of barriers to free trade and the closer integration of national economies….. can be a force for good and that it has the potential to enrich everyone in the world, particularly the poor." It is ironical that he was an economic advisor in the Clinton administration just prior to the commencement of the processes of privatization, liberalization and stabilization in most countries.

 
 
 

Making Globalization Work The Next Steps to Global Justice, Stiglitz's, provoking, globalization process, World Commission, Social Dimension of Globalization, rise of unemployment, industrial nations, economists, functioning of institutions, national economies, privatization, liberalization, International Trade, Global Warming, Intellectual Property Rights, debt, subsidies, management