The Creation and Destruction of Value: The Globalization Cycle by James Harold

The Creation and Destruction of Value: The Globalization Cycle by James Harold

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James Harold views the current global economic crisis from a historical perspective in his book, The Creation and Destruction of Value: The Globalization Cycle. Harold goes through in detail comparing the Great Depression with the current situation and what chain of events led to everything that has happened. The points that he lays out suggest that globalization and values go in a continuous cycle in which they are built up and then broken down in a repetitive sequence. Harold does a good job establishing his own credibility and clearly portray his points. By taking the historical approach versus a purely economic point of view, Harold reaches more readers and puts forth a better, well-rounded argument.
Throughout the book, there are various arguments presented to help the reader understand all the different sides of the current global economic crisis. The first portion of the book gives an in depth review of what happened during the Great Depression. By showing what happened during this time, Harold links it to points in globalization. The world had become increasingly globalized with more international trade than what existed before the Great Depression. Through a series of unexplainable events, the values of this increased globalization along with individual businesses that collapsed have sent the whole world into a whirlwind. One of the most important distinctions that Harold stressed was the difference between the collapse in 1929 and 1931. The 1929 collapse was solely based inside the United States. The fall of the stock market on successive days and the ensuing volatility of the market brought down the US economy in an instant. However, at this time the rest of the world economy did not suffer as dramatic a...


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...me time to rebuild the trust and values that drive globalization but there is definitely a chance that it will return and be more efficient than it previously was.
The Creation and Destruction of Value: The Globalization Cycle by Harold James takes a different approach than other books currently out there that analyze the present economic crisis. James establishes credibility and historical facts to help the reader get a good base of information before jumping into the current situation. The reader is given a great overview of all aspects of the crisis and what some possible solutions are. James does a great job delivering his argument and informing the reader of all the necessary details that lead to his conclusions. Following reading Harold James’ book, any reader will have a greater amount of knowledge about the current global economy and economic crisis.

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