from Greenberg Center for Geoeconomic Studies

Globalization: What’s New?

Foreign policy analyses written by CFR fellows and published by the trade presses, academic presses, or the Council on Foreign Relations Press.

From the streets of Seattle to corporate boardrooms to new factories in third-world nations, globalization is subject to very different and often explosively divergent interpretations. Where some see globalization as driving poor countries further into poverty, others see it as the path to economic salvation and democratic rule. Edited by former Council Senior Fellow and former Maurice R. Greenberg Geoeconomics Center Director Michael Weinstein, and with original contributions from ten eminent economists, Globalization: What's New? cuts through the confusion and rhetoric to offer straightforward, incisive analyses of globalization and its future.

Coming from some of globalization's most prominent supporters (David Dollar), its most vocal critics (Joseph Stiglitz), and those in between, this collection presents diverse and original perspectives on globalization's immense reach and digs to the core of many debates. The contributors analyze recent trends in trade, immigration, and capital flows; why some poor countries have grown while others have stagnated during the past two decades; future opportunities for low-wage workers; globalization's impact on jobs and wages in poor countries and in the United States; the surprising environmental benefits of globalization; the degree to which foreign aid helps developing countries; the failures of international institutions in governing the global economy and supporting democracy; and how foreign loans and investments can wreak havoc on a nation's economy.

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George J. Borjas, Harvard University
Charles W. Calomiris, Columbia University
David Dollar, The World Bank
William Easterly, New York University
Jeffrey Frankel, Harvard University
Douglas Irwin, Dartmouth College
Dani Rodrik, Harvard University
Jeffrey Sachs, Columbia University
Joseph E. Stiglitz, Columbia University
Michael Weinstein, Robin Hood Foundation

A Council on Foreign Relations Book

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Reviews and Endorsements

Finally, finally, a most respected group of economists has come together to separate fact from fiction about globalization and to provide us with an intelligent policy discussion. For a decade, writings on globalization were faddish and foolish, making the most extravagant claims without any grounding in history or knowledge of economics. The Weinstein edited book should be the most important of its kind on this most important of subjects.

Leslie H.Gelb, President Emeritus, Council on Foreign Relations

Globalization has become an enduring subject. Here is a superb collection of essays, with a sparkling introduction, bringing thoughtful and accessible economic analysis to what ought to be a wide readership. The economists all bring evidence, intelligence, and some healthy policy 'attitude.' Their points of view never drown out their sound thinking. In the end, what's good about globalization mostly gets the nod in this collection, along with full disclosure of how its economic blessings could be enhanced and better shared.

Nancy Birdsall, President, Center for Global Development

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