Why Globalization Works

A powerful case for the global market economy

The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future.

Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization’s critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multinational corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.

“"[Written by] one of the world's most respected economic journalists . . . this elegant and passionate defense of trade liberalization is essential reading."--Arvind Panagariya, "Foreign Affairs”

"Splendid... The definitive treatment of the subject, and an absorbing read." Economist; "A wealth of material on every page." Wall Street Journal "Let a splendid new book on globalization be the last for a while: it will not be bettered soon... Why Globalization Works is the fullest and most sophisticated treatment to date of the case for globalization. All the topics Wolf addresses have been addressed elsewhere, but never before with such depth of thinking, and in one place... The definitive treatment of the subject, and an absorbing read." Economist; "Accessible and clearly argued... A wealth of material on every page." Bruce Bartlett, The Wall Street Journal; "No one has summarised more coherently the recent, voluminous research... Elegantly and persuasively, Wolf marshals the facts." Niall Ferguson, Sunday Telegraph; "A necessary and compelling read for all who want to understand the logic of unfolding events." Robert Skidelsky, New Statesman; "Meticulous, well-structured, and persuasive." Martin Vander Weyer, Spectator"

Martin Wolf is associate editor and chief economics commentator at the Financial Times in London. Formerly senior economist at the World Bank's division for international trade, he has worked in Kenya, Zambia, and India. He has been visiting professor at Oxford, Nottingham, and Rotterdam universities and fellow of the World Economic Forum in Davos, Switzerland.

A distinguished international economist here offers a powerful defense of the global market economy. Martin Wolf explains how globalization works, critiques the charges against it, argues that the biggest obstacle to global economic progress has been the failure not of the market but of governments, and offers a realistic scenario for economic internationalism in the post-9/11 age. For this paperback edition, Wolf provides a new introduction to update the debate.

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