Book Review: Globalization and Its Discontents by Joseph Stiglitz

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Globalization and Its Discontents by Joseph Stiglitz offers an insider’s view
of the role played by the International Monetary Fund and the World Bank in
the economic crises of the 1990s. Stiglitz argues that the so-called
Washington Consensus, a set of economic principles typically applied to
nations facing crisis, were imposed on numerous developing countries with
little regard for local conditions. Contrary to the expectations of most
policymakers, this approach actually exacerbated crises, meaning that
globalization ended up hurting the nations it was supposed to help. In the
book, Stiglitz lays out a set of recommendations to harness the immense
potential of globalization so that it can benefit everyone, not just a small
coterie of financial elites.

This book review and analysis is perfect for:
•Students of economics and international development
•Anyone who wants to understand the inner workings of the International
Monetary Fund and the World Bank
•Anyone with an interest in the true causes of recent global economic crises

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