I was surprised by this book. Stiglitz is an American who has worked for the American government, yet he criticizes the United States for most of the globalisations negative effects. Having this book as course literature was a good choice - for a commoner like me, Stiglitz explains globalisation with words I easily cab understand. Many examples are used too. But I missed a culture insight, since I only got to read about economy and politics. Culture is also a big deal, but it's understandable that Stiglitz didn't include this aspect since his thing litterary is economy and politics. I still appreciate the book for what it is, a good explanation on how you could make globalisation work. Because whether or not you agree with his plan for success, it's at least a plan. Which in this world today is all we need.

Wish I had read this back in JC. 10 years too late.

A lot of good points about how globalization has been terribly implemented and ways to fix it. Ways that it would take a whole series of miracles--or disasters--to get the international community in general, and the US in particular, to sign onto.

Also, and perhaps understandably give that the book is a few years old now, there's no mention of the likely effects of automation, which even mainstream news outlets are waking up to now.

Wide-ranging discussion of the various ways that the decks are stacked against the developing world. Stiglitz suggests various ways to improve the situation. I think his strongest points are around closing the democratic deficit with institutions like the World Bank and the IMF. The weakest involve creating new courts and organizations - it seems that this would decrease transparency and create more opportunities to game the system. His argument boils down to saying that the developed world should more actively work to help the developing world and this is a question of political will not adding more committees. I learned a lot from this book - especially about the Dutch disease (natural resource exploitation damaging other exports) and the international reserve system.

Smart, eye-opening and thoughtful. The question is how to implement Stiglitz's ideas...

"Countries that want to participate in the new world of high-tech globalization need new technologies, computers, and other equipment in order to connect with the rest of the world. Individuals who want to compete in this global economy have to have the skills and resources to do so… As globalization and new technology reduce the gap between parts of India and China, the gap between Africa and the rest of the world is actually increasing. Within countries, too, the gap between the rich and the poor is increasing—and, with it, the gap between those who can effectively compete globally and those who can’t."

Too much like an Intro to Development class, could not get past the first couple of chapters to find anything new. I know Joe has more to say, but its not in this book.

Another important book to be read by anyone who wants to be an informed citizen. Easily read by the average layperson. This book is now 2 years old though and I would love it if Mr. Stiglitz would print an update letting us average people know if any of his reforms are being implemented.
The reason I didn't give it five stars is because the last two chapters got a tad boring for me. Also I was a little frustrated because as I read I kept thinking, "How can we ever accomplish the reforms he is proposing!?"
But all in all, a very informative book.

the most disconcerting thing about this book is that i was required to read it for a class on globalization despite it being over 15 years old. i’m still learning about this topic and though i know much has changed in the world economy since then, i know very little as to what that is. since this book was published, we experienced the election of two new american presidents, the economic crisis of 2008, and the advent of smartphones, just to name a few things. i am very interested in how many of the suggested policies in this book have actually been implemented, or whether we’ve drifted farther from the goal as opposed to closer? am i the only one in my class who cares? who knows i’m not in the groupme

Nobel Laureate Joseph E. Stiglitz makes my shortlist of astute, highly respected and world renowned economists/ commentators cum great communicators.

I thoroughly enjoyed this book, finding it most easy to read while still packing a potent punch in highlighting constraints which hamper wishful benefits of globalization.

As the study of macroeconomics goes, unless one can control ALL contributing factors or externalities (i.e. competing political loyalties, interests, ideology; ridiculous compromises; lob-sided negotiations/ agreements; big-brother self-serving policy implementations; etc etc), one simply cannot exert full control to deliver desired impact of a policy no matter how well-intentioned. How very true yet frustrating.

Globalization has the power to improve overall living standards and reduce poverty in developing countries, only if developed countries are willing to commit unselfishly to the cause. What is needed is the vision to accept our shared future path, and the action to allow all countries to stand on a common platform.

There is a need to place emphasis on transforming the lives of people, not by focusing on the advancement of narrow functions (eg. primary education attainment), but by improving broad capabilities. Educating the people of developing countries and collective community level engagement are critical to this cause.

Developing countries need to extend standardized preferences in trade agreements and the management of intellectual property. The risks of international debt need to be transferred to developed countries in order to fuel, rather than inhibit, the growth of developing countries. Global reserve systems need to direct sovereign savings towards investments in global public goods, rather than US credit cards, which will necessitate a new reserve currency. In return, developing countries must commit to greater levels of transparency, discourage bribery and corruption and protect the environment for the long term benefit of their people. Ultimately, there is a need for global legal frameworks and courts to promote the fair and smooth functioning of the global economy.

First book by Stigliz.
Absolutely loved how he has put forward his thoughts regarding the wrongdoings in the name of globalization and how the nations that are on the opposite side of the development could work together to make this concept right.