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Globalization, heralded for decades as a harbinger of prosperity, faces a huge backlash. Derided by right-wing nationalists as a ‘globalist’ plot to undermine traditional communities, and by left-wing critics as the rule of rampaging corporations, it’s become a political punching bag around the world. In this incisive book, leading commentator Colin Crouch defends globalization against its critics to the right and left. He argues that reversing the process would mean a poorer world riven by nationalistic and reactionary antagonisms. However, globalization will only be worth saving if we institute reforms to promote social solidarity and recover pride and confidence for the cities and regions that have lost out. Crouch shows that we can therefore only save globalization from itself if we transcend the nation state and subject global economic flows to democratically responsible transnational governance. Crouch provides a much-needed riposte to the delusions that risk plunging the world back into a zero-sum game of regressive economic nationalism, combining cool-headed analysis with a visionary call for a reformed and genuinely progressive globalization.
Using evidence from public opinion polls Scheve (political science, Yale U.) and Slaughter (economics, Dartmouth College, New Hampshire) discuss the attitudes of American workers towards globalization, concluding that there is a strong division in attitude based on education and skill levels, with less-skilled workers seeing globalization as a threat. The authors delineate globalization and their analysis in purely economic terms as they discuss the public opinion evidence on US opposition to globalization, various economic models to interpret the differences in opinion of the surveys, the larger context of recent US labor-market pressures and how these affect worker preferences. Annotation copyrighted by Book News Inc., Portland, OR
This work aims to move beyond the monolithic portrayal of the globalization protests that have escalated since Seattle and are not likely to abate soon. With analysis and primary documents from a variety of popular and uncommon sources, Robin Broad explores proposals and initiatives coming from the backlash to answer the question, But what do they want? A range of propositions and a debate among segments of the backlash emerge.
Deftly navigating the tensions among globalization, national sovereignty, and democracy, Straight Talk on Trade presents an indispensable commentary on today's world economy and its dilemmas, and offers a visionary framework at a critical time when it is most needed.
Preferential trading arrangements (PTAs) play an increasingly prominent role in the global political economy, two notable examples being the European Union and the North American Free Trade Agreement. These agreements foster economic integration among member states by enhancing their access to one another's markets. Yet despite the importance of PTAs to international trade and world politics, until now little attention has been focused on why governments choose to join them and how governments design them. This book offers valuable new insights into the political economy of PTA formation. Many economists have argued that the roots of these agreements lie in the promise they hold for improving the welfare of member states. Others have posited that trade agreements are a response to global political conditions. Edward Mansfield and Helen Milner argue that domestic politics provide a crucial impetus to the decision by governments to enter trade pacts. Drawing on this argument, they explain why democracies are more likely to enter PTAs than nondemocratic regimes, and why as the number of veto players--interest groups with the power to block policy change--increases in a prospective member state, the likelihood of the state entering a trade agreement is reduced. The book provides a novel view of the political foundations of trade agreements.
From the bestselling author of The Ascent of Money and The Square and the Tower, a searching and provocative examination of the widespread institutional rot that threatens our collective future What causes rich countries to lose their way? Symptoms of decline are all around us today: slowing growth, crushing debts, increasing inequality, aging populations, antisocial behavior. But what exactly has gone wrong? The answer, Niall Ferguson argues in The Great Degeneration, is that our institutions—the intricate frameworks within which a society can flourish or fail—are degenerating. With characteristic verve and historical insight, Ferguson analyzes the causes of this stagnation and its profound consequences for the future of the West. The Great Degeneration is an incisive indictment of an era of negligence and complacency—and to arrest the breakdown of our civilization, Ferguson warns, will take heroic leadership and radical reform.
For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
Authoritarian populist parties have advanced in many countries, and entered government in states as diverse as Austria, Italy, the Netherlands, Poland, and Switzerland. Even small parties can still shift the policy agenda, as demonstrated by UKIP's role in catalyzing Brexit. Drawing on new evidence, this book advances a general theory why the silent revolution in values triggered a backlash fuelling support for authoritarian-populist parties and leaders in the US and Europe. The conclusion highlights the dangers of this development and what could be done to mitigate the risks to liberal democracy.
As the world economy slides into the worst recession since the 1930s, there is fear that hard times will ignite a backlash against free trade policies and globalization more generally. This book explores the political and economic institutional foundations of the bargain of embedded liberalism and the ways domestic institutions shape how governments redistribute the risks and benefits of economic globalization. The author identifies the Anglo-American democracies, because of their majoritarian polities combined with decentralized, competitive economies, as uniquely vulnerable to the contemporary challenges of globalization and the most susceptible to a backlash against it.
Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period—differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa. The book brings together research conducted by the authors over the past decade—work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.