Description

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This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics.

When it was first published, this national bestseller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

About the Author

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Joseph E. Stiglitz is a Nobel Prize–winning economist and the best-selling author of People, Power, and Profits: Progressive Capitalism for an Age of Discontent; Globalization and Its Discontents Revisited: Anti-Globalization in the Age of Trump; The Price of Inequality; and Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, named by Time as one of the 100 most influential individuals in the world, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.

Praise For…

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[An] urgently important new book.
— George Scialabba - Boston Globe

[Stiglitz's] rare mix of academic achievement and policy experience makes Globalization and Its Discontents worth reading.

— Michael J. Mandel - BusinessWeek

Development and economics are not about statistics. Rather, they are about lives and jobs. Stiglitz never forgets that...
— Frank Bures - Christian Science Monitor

A great tour of the complexities of economic policymaking. Getting a top economist to subject the US Treasury and the IMF to withering scrutiny... is good for the long-term health of the system.
— William Easterly - Financial Times

Entertaining, insightful, and well-written.... Makes a compelling case.
— Foreign Affairs

Provocative, readable, and sure to earn Stiglitz persona non grata status in certain corridors of power.
— Kirkus Reviews

Accessible, provocative and highly readable... Brings an insider's insights into the crises of the 1990s and beyond.
— Alan Cowell - New York Times

[A] smart, provocative study... Impassioned, balanced and informed... A must-read.
— Publishers Weekly

A fresh, much-needed look at how these institutions-primarily the International Monetary Fund-affect policy... Stiglitz has done important work...
— Anna Lappé - San Francisco Chronicle

[Stiglitz] is not a global pessimist, but a realist—and instead of placing him in a neat box labeled 'important contribution to the debate,' we should listen to him urgently.
— Will Hutton - The Guardian [UK]

[W]ill surely claim a large place on the public stage.
— Benjamin M. Friedman - The New York Review of Books

A war story from inside the halls of the White House and the World Bank, the confession of a powerful economist with a political conscience and a healthy degree of common sense.
— Lenora Todaro - The Village Voice

Penetrating, insightful.... A seminal work that must be read.
— George Soros

This book is everyone's guide to the misgovernment of globalization. Stiglitz explains it here in plain and compelling language.
— James K. Galbraith, The University of Texas at Austin

Whatever your opinions, you will be engaged by Stiglitz's sharp insights. A must read.
— Juan Somavia, Director-General of the International Labor Organization

He is one of the most important economists of modern times.
— Nicholas Stern, Chief Economist and Senior Vice President, World Bank