George Soros On Globalization - Hardcover

Soros, George

Hardcover

ISBN 10: 1586481258 ISBN 13: 9781586481254

Publisher: PublicAffairs, 2002

Synopsis

Over the past decade, "globalization" has become a buzzword for everything that is happening in the world economy or even in international relations generally. But as even a cursory glance at recent headlines reveals, not everyone is happy with globalization. Violent protests are now a regular feature of international summit meetings, and many young people have expressed their strong opposition to policies that they see as enriching the rich at the expense of workers, the environment, and traditional culture.

As the world economy has transformed in the 1990s and early 2000s, no individual has grappled with the social and political implications of globalization more than George Soros. George Soros on Globalization seeks to assess not merely how well the world's financial institutions have fulfilled their larger mission of helping the entire world strive for prosperity, but also to point the way toward fixing the problems that have emerged in the globalization regime as a whole. Unlike other proponents of globalization, Soros does not dismiss the criticisms of the protesters; indeed, he welcomes them and acknowledges that in many ways the protesters have a clearer view of the issues at stake than the bankers and bureaucrats do. We ignore the protesters' message, Soros warns, at our peril.

About this title

About the Author:

George Soros heads Soros Fund Management and is the founder of a global network of foundations dedicated to supporting open societies. Known throughout the world both for his financial acumen and for his political engagement, Soros is the author of several previous bestselling books including The Alchemy of Finance, The Crisis of Global Capitalism, and Open Society.

From Publishers Weekly:

Financial mastermind Soros (The Alchemy of Finance, etc.) has made his mark as a philanthropist with a progressive foreign policy, fostering open societies. He equates globalization with "the free movement of capital and the increasing domination of national economies by global financial markets and multinational corporations." In this treatise, he explains how his vision to "make global capitalism more stable and equitable" acknowledges that antiglobalization protesters have a case against the mainstream consensus that the market works well. Instead of dismantling existing international financial and trade institutions, though, Soros suggests reform. Market fundamentalists, he says, are unwilling to modify existing institutions to create a level playing field; moreover, they're loath to create institutions to foster social goals like reducing poverty. Protestors, he observes, are "strangely blind" to the need to improve the quality of government and public life in poorer countries. Soros's suggested method provides aid that will "enable, encourage, and reinforce" voluntary compliance with international standards relating to environment, education and labor. His proposal? The richer countries in the IMF issue Special Drawing Rights (SDRs) for international assistance i.e., international reserve assets a process that shares the burden equitably, with the United States paying its fair share. A board of "eminent persons" chooses who's eligible for assistance, and a separate audit commission evaluates those chosen. After September 11, Soros notes in conclusion, Americans must recognize the world's precarious interdependence. Soros has an admirable track record and the virtue of hindsight (his foundations have done innovative work and his take on what could have been done in Russia over the past decade is compelling). This dry but vital book deserves attention and debate.
Copyright 2002 Cahners Business Information, Inc.

About this edition

• Publisher: PublicAffairs
• Publication date: 2002
• ISBN 10: 1586481258
• ISBN 13: 9781586481254
• Binding: Hardcover
• Edition number: 1
• Number of pages: 160