Globalization and Its Discontents
In *Globalization and Its Discontents*, Nobel Prize-winning economist Joseph E. Stiglitz draws on his insider experience as World Bank Chief Economist to expose the deep flaws in how globalization has been managed. He argues that the system isn’t inherently broken—but it’s been hijacked by wealthy nations, corporate elites, and ideologically rigid institutions like the IMF and World Bank. Through searing case studies—the 1997 East Asian Crisis, Russia’s disastrous shock therapy, and the hollow promises of the Washington Consensus—Stiglitz shows how one-size-fits-all policies have exacerbated inequality, crushed developing economies, and left working classes in both rich and poor countries disillusioned. He dismantles myths about free trade, capital flows, and debt relief, and lays out a pragmatic roadmap to reform global governance, prioritize equitable growth, and refashion globalization to serve the many, not just the powerful few.