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Joseph Stiglitz's, Globalization and its Discontents

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  • Jonathan Perraton

    (Department of Economics and Political Economy Research Centre, University of Sheffield, Sheffield, UK)

Abstract

Joseph Stiglitz's Globalization and its Discontents has sparked a major critical response since its publication in that it appears to encapsulate widespread doubts about globalization processes and their governance. This review aims to probe further Stiglitz's general analysis and policy prescriptions. It is argued that Stiglitz's central concern is how globalization as currently practised acts to exacerbate existing market failures and produce new ones, and the appropriate response of international economic institutions to address the resulting global collective action problems and ensure that the potential gains from globalization are realized. Whilst many of his proposals remain vague, they can be seen as part of an emerging global social democratic agenda. Copyright © 2004 John Wiley & Sons, Ltd.

Suggested Citation

  • Jonathan Perraton, 2004. "Joseph Stiglitz's, Globalization and its Discontents," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(6), pages 897-905.
  • Handle: RePEc:wly:jintdv:v:16:y:2004:i:6:p:897-905
    DOI: 10.1002/jid.1134
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    References listed on IDEAS

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    1. Kaushik Basu, 2003. "Globalization and the Politics of International Finance: The Stiglitz Verdict," Journal of Economic Literature, American Economic Association, vol. 41(3), pages 885-899, September.
    2. Maurice Obstfeld & Kenneth Rogoff, 2002. "Global Implications of Self-Oriented National Monetary Rules," The Quarterly Journal of Economics, Oxford University Press, vol. 117(2), pages 503-535.
    3. Rudra, Nita, 2002. "Globalization and the Decline of the Welfare State in Less-Developed Countries," International Organization, Cambridge University Press, vol. 56(02), pages 411-445, March.
    4. Aggarwal, Aradhna, 2004. "Macro Economic Determinants of Antidumping: A Comparative Analysis of Developed and Developing Countries," World Development, Elsevier, vol. 32(6), pages 1043-1057, June.
    5. Stiglitz, Joseph E., 2003. "Globalization and growth in emerging markets and the New Economy," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 505-524, July.
    6. Summers, Larry, 2003. "Cyclical dynamics in the new economy," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 525-530, July.
    7. Williamson, John, 1993. "Democracy and the "Washington consensus"," World Development, Elsevier, vol. 21(8), pages 1329-1336, August.
    8. repec:hrv:faseco:34721962 is not listed on IDEAS
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