Globalization And Its Discontents By Laureate Nobel Essays

Globalization And Its Discontents By Laureate Nobel Essays

Length: 1442 words (4.1 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

In his book, Globalization and its Discontents, the author provides an enthralling perspective on the shadow side of globalization. Nobel laureate Joseph Stiglitz’s experiences as the Chief Economist of the World Bank and the Chairman of the Council of Economic Advisers in the Clinton Administration has provided him with an interesting vantage point to understand the inner workings of the IMF, the World Bank, the WTO and also the governments and finance ministries of many countries across the world.
The discernments provided in this book by a distinguished ‘insider’ is manna for economists, investment banks, governments of both developing and developed countries and just about anybody who wants to learn and understand economic development, the politics of international business and globalization, and public policy formulation with regards to globalization and liberalization. The author provides a holistic view of all aspects of globalization – the good, the bad, and the ugly. International organizations and business practitioners in particular will be wise to glean valuable insights from this book.
The author, in large part, focuses on the deficiencies of the International Monetary Fund (IMF) and provides an objective view on how the organization that was initially created to combat global economic instability, has digressed from its goals and inadvertently perpetuated the very problem it was set out to solve.
Globalization admittedly has several benefits that the author acknowledges including integrating global business communities and economies, reducing poverty, reducing trade barriers, providing poorer countries with much needed foreign aid, as well as reducing the isolation of developing countries. However, with major meeti...


... middle of paper ...


...uthor reveals how the US muted discussions pertinent to economic and policy issues in Russia which ironically served to suppress the emergence of democratic, transparent systems. While the author believes that there is no merit to the conspiracy theories about the intentional evisceration of Russia’s economy by the US & the IMF, he does submit their policies were not entirely altruistic. Broader special economic interests of the US and Wall Street had an effect on policies to the detriment of national and global objectives of a successful transition in Russia. A case in point being the insistence on forming an aluminum cartel to stave off “dumping” by Russia. As Stiglitz rightly notes, this taught Russia the wrong lesson – “the way to do well in market economics was to go to the government!” The misguided transition of Russia exposed the blatant hypocrisies of the US

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Globalization and New World Order Essay

- The term ‘Globalization’ refers to is the integration of economies, industries, markets, cultures and policy-making round the globe. It explains a progression by which both national and regional economies, societies, and cultures have become incorporated through the universal system of commerce, communication, migration and transportation. Globalization can be explained in economic and sociological contexts. Malcolm Waters, in his book– ‘Globalization’ writes that “Globalization is a social process in which the constraints of geography on economic, political, social and cultural arrangements recede, in which people become increasingly aware that they are receding and in which people act acco...   [tags: Globalization Essays]

Better Essays
1586 words (4.5 pages)

Nobel Laureate Gabriel Garcia Marquez a Champion for Latin American Solitude

- The works of the late 1982 Columbian literary Nobel Laureate Gabriel Garica Marquez reflect not only the sentiments of postcolonial Columbians, but also the surreal realities lived by Latin Americans in the New World. This surreal reality is what Marquez has become synonymous with — magic realism. The literary genre, magic realism, can be found in Marquez’s books and short stories such as 100 Years of Solitude and “A Very Old Man with Enormous Wings”. Literary critics and audience alike have marveled at how Marquez masterfully connected the ethereal and the mundane with such precision in diction and syntax that the narratives seem more than commonplace but actually feasible and tangible....   [tags: surreal realities, latin community]

Better Essays
1802 words (5.1 pages)

The Nobel Peace Prize : Discovery Of Pulsars Essay

- The Nobel Peace Prize is one of the highest awards that a researcher in physics, chemistry, or medicine can receive, and the award honors scientists that have made revolutionary discoveries or explanations in their field. This award was presented to Anthony Hewish, and his mentor, Martin Ryle in 1974 for the innovations they made in astronomy, and specifically the discovery of pulsars. Although they were the only two that were awarded, Jocelyn Bell Burnell played a significant role in pulsar detection....   [tags: Nobel Prize, Nobel Peace Prize, Alfred Nobel]

Better Essays
966 words (2.8 pages)

Essay on Nobel Prize Laureates in the Field of Medicine and Physiology

- Every year, a prestigious prize is given to people who provide a reason for change, a new invention or a new discovery. The Nobel Prize Laureates in 2013 in the field of physiology, and medicine was given to three individuals. The Laureates were James E. Rothman, Randy W. Schekman and Thomas C. Südhof. The three investigators revealed that there is the machinery that controls how cells transport major molecules in a cargo system which ends up delivering them to the right place at the right time in the body....   [tags: James Rothman, Randy Schekman, Sudhof]

Better Essays
932 words (2.7 pages)

The Nobel Prize and its First Laureates Essay

- The Nobel Prize and its First Laureates Alfred Nobel was a Swedish industrialist, and inventor. In 1866 he invented dynamite, which made him very wealthy, but he left all of his money to establish a fund for the Nobel Prize. The Nobel Prize is awarded annually for achievements during the previous year, in the categories of physics, chemistry, medicine, or physiology, literature, and the promotion of peace. Each winner receives a set amount of prize money, a medal, and a certificate....   [tags: Free Essays]

Free Essays
392 words (1.1 pages)

The Connection between Civilization and Individuals in "Civilization and Its Discontents" by Sigmund Freud

- In Civilization and Its Discontents, Sigmund Freud writes primarily to examine the relationship between the individual and society. Through Freud's examination of the relationship, a deeper understanding of the complexity of mental life is realized. Freud begins to develop the relationship early in the work by depicting the most primitive realizations of self and the most primitive realizations of the external world. He further develops this relationship through the musing of sexual desire and its connections to love, which he claims, lead to the formation of families and then later groups of humanity that came to comprise civilization as a whole....   [tags: Civilization and Its Discontents, Sigmund Freud, ]

Better Essays
584 words (1.7 pages)

The Chemistry Nobel Prize 2013 Essay

- For what work (research) was the prize awarded. Chemistry is one of category of Nobel Prize given to chemists who have dedicated in chemistry science. For a chemist, Nobel Prize is one of most prestigious award. Nobel Prize for chemistry 2013 has been decided, chemistry prize goes to three theoretical chemists who have developed a multiscale computer model to predict complex chemical reaction. For some people, maybe it the Chemistry Nobel Prize 2013 decision was a surprise. The Prize did not go to chemist who had developed new formula of chemistry but the prize went to a group of chemists who had developed a computer program about chemistry....   [tags: Science, Chemistry, Nobel Prize]

Better Essays
1633 words (4.7 pages)

The Chemistry Nobel Prize 2013 Essay

- The Chemistry Nobel Prize 2013 Chemistry is one of category of Nobel Prize given to chemists who have dedicated in chemistry science. For a chemist, Nobel Prize is one of most prestigious award. Nobel Prize for chemistry 2013 has been decided, chemistry prize goes to three theoretical chemists who have developed a multiscale computer model to predict complex chemical reaction. The three chemists are Michael Levitt from Stanford University, Martin Karplus, Strasbourg University, Harvard University, and Cambridge University, and Arieh Warshe from University of Southern California....   [tags: Chemistry Nobel Prize]

Free Essays
754 words (2.2 pages)

Alfred Nobel Essay

- Since 1901, the Nobel Prize has honored men and women worldwide for his or her achievements whose work had been of the greatest benefit to mankind. It is a little known fact that the man who created the Nobel Peace Prize was the inventor of dynamite. Nobel’s dynamite was an extraordinary invention, with this invention we are now able to build roads, ports, bridges, mines, tunnels, and for the use of war. Alfred Nobel was born in Stockholm in the year 1833. When Nobel was five years old, his father Immanuel Nobel moved their family to St....   [tags: Biography Nobel Prize]

Better Essays
1209 words (3.5 pages)

Globalisation Essay

- When using Chanel’s cosmetics, when drinking Danone yogurt with breakfast, when driving Ford motor the way home, global brands which are highly visible symbol of the increasing integration of world market, could been discovered around everywhere. As Thomas L. Friedman (2005) states, ‘World is flat!’, which means world is being shrunk by the spreading of globalisation. Globalisation, a result of social development, can be described as the increase in cross-broader trade and influence on the economic and social behaviour of nation states (David Begg, 2003:272)....   [tags: Globalization Economics Analysis Marketing]

Free Essays
1695 words (4.8 pages)