Most supporters and opponents of globalization accept as true certain key ideas that govern the terms of the debate. Globalization, they contend, is the single dominant force shaping the world's economies both today and into the future; an irresistible and growing part of economic reality. They see the fates of business, labor, and entire nations all determined by their ability to adapt to its dictates. These and other similar notions have become so completely accepted that they are now embraced as the conventional wisdom. In this book, the authors argue that these ideas are either largely false or at best highly exaggerated. The book presents a very different position, based on a serious look at the history of globalization and a reader-friendly presentation of the economic data that dramatically refute the accepted truths advanced by so many of its commentators. Central arguments include: globalization is not a new phenomenon, but has grown and diminished throughout modern history; dealing with globalization requires local and specific rather than generic and global responses; and that as services come to dominate national economies, globalization will wane in importance.
Bruce C. Greenwald (New York, NY) is one of the nation's leading economists. He currently serves as the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University's Graduate School of Business, teaching popular courses on Value Investing, Corporate Finance, Media Strategy and Globalization & Markets. He consults worldwide on a variety of issues concerning capital markets, business strategy, corporate finance and labor performance. He received the following degrees: from the Massachusetts Institute of Technology, a B.S. and a Ph.D., and from Princeton University an M.P.A. and an M.S. He is author or editor of several books including Competition Demystified, Economics for an Imperfect World: Essay, Towards a New Paradigm in Monetary Economics, and Value Investing. Bruce has been published in the Harvard Business Review, American Economic Review, Journal of Finance, Oxford Economic Papers, and Journal of Finance and Accounting, among many others.
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