Whether it manifests itself as free trade, the Internet, or rescue missions for foundering economies, the fact remains that the world is linked together today in a fashion that was inconceivable during the Cold War, but not everyone is happy with globalization. Violent protests are now a regular feature of international summit meetings, and many young people have expressed their opposition to policies that they see as enriching the rich at the expense of workers, the environment, and traditional culture. At this juncture, as protests mount and the leading nations seem on the verge of a recession, George Soros has issued a report on globalization and its discontents. The title seeks to assess not merely how well the world's financial institutions have fulfilled their larger mission for prosperity, but also to point the way forward toward fixing the problems that have emerged in the globalization regime as a whole. Soros acknowledges the many ways in which protesters have a clearer view of the issues at stake than the bankers and bueaucrats do. We ignore the protesters' message, Soros warns, at our peril.
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Never before have we stood to gain or lose as much from understanding the international economy. Scandals plague the world's largest corporations, the American trade deficit has soared to historic heights, and international organizations from the World Bank to the WTO are accused of being inefficient and corrupt. Is our global economy as unhealthy, and as unjust, as we think? And what can be done about it?
At this critical juncture, George Soros, a major proponent of globalization, takes to task the many institutions that have failed to keep pace with our global economy. At the same time, he offers a compelling new paradigm to bring the institutions and the economy back into necessary alignment. Economics are amoral, he argues - but neither our society nor our economy can afford to function without a distinct system of right and wrong. As we look toward the future and wonder what's ailing our economy, where our jobs are going, and whether the power of economics can be harnessed for positive changes, this thoroughly updated edition of George Soros on Globalization is a report no citizen of the world can do without.
George Soros heads Soros Fund Management and is the founder of a global network of foundations dedicated to supporting open societies. He is the author of several bestselling books, including The Crisis of Global Capitalism, Open Society, and, most recently, The Bubble of American Supremacy.
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