By Joseph E. Stiglitz

“A damning denunciation of items as they're, and a platform for a way we will be able to do better.”—Andrew Leonard, Salon

Four years after he defined the demanding situations our more and more interdependent international used to be dealing with in Globalization and Its Discontents, Joseph E. Stiglitz provided his time table for reform. Now in paperback, Making Globalization Work bargains creative strategies to a number of difficulties, together with the indebtedness of constructing nations, foreign financial instability, and around the globe toxins. Stiglitz additionally argues for the reform of world monetary associations, alternate agreements, and highbrow estate legislation, to lead them to greater capable of reply to the starting to be disparity among the richest and poorest nations. Now greater than ever prior to, globalization has collected the peoples of the area into one neighborhood, bringing with it a necessity to imagine and act globally. This trenchant, intellectually strong booklet is a useful step in that approach. This paperback version encompasses a brand-new preface. .

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Its failures can be seen around the world, in Africa, Latin America, and the economies in transition. The clearest test was in the transition from communism to a market economy; those that followed the Washington Consensus failed, almost to a country. At best, they achieved meager growth; at worst, they are suffering growing inequality and instability. Even democracy looks less secure. A VISION OF DEVELOPMENT In the array of statistics and anecdotes describing developing countries—some totally depressing, some conveying enormous hope—it's important to remember the big picture: success means sustainable, equitable, and democratic development that focuses on increasing living standards, not just on measured GDP.

What is remarkable is how well India and China have done, given their handicaps. Not only is the world not flat: in many ways it has been getting less flat. The countries of East Asia made globalization work for them; their success is the best argument for the good that globalization can do for other developing countries. But for some of the poorest countries of the world, dependent as they are on aid from the World Bank, the IMF, or donors in Europe, America, and Japan, conditions imposed in order to receive that aid—though less onerous than in the past—may still be precluding them from following economic policies of their own choosing, including policies of the kind that proved so successful in East Asia.

It was about changing the power structure within the community by giving more economic resources to the poorest of the poor, especially to the women, who had for so long been treated as second-class citizens. The community was strengthened by the health, legal aid, and education programs they established. I was taken to an elementary class in family law set up by BRAG, which taught women their basic legal rights, including the rudiments of divorce law, so that they knew what protection they had from physical abuse and abandonment by their husbands.

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