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Meeting Globalization's Challenges - by Luís Catão & Maurice Obstfeld (Hardcover)

Meeting Globalization's Challenges - by  Luís Catão & Maurice Obstfeld (Hardcover)
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<p/><br></br><p><b> About the Book </b></p></br></br>"In the US, in Europe, and throughout the world, globalization, in tandem with technological progress, has left a massive number of people behind, feeling dispossessed, disenfranchised, and angry. Leading the charge of "hyperglobalization" during the second half of the last century, and enforcing the Western framework of austerity in the developing world has been the International Monetary Fund. Along with the World Bank and WTO, many consider the IMF one of the most consequential institutions to have pushed the world economy blindly towards excessive globalization, while not adequately considering its powerful negative consequences. In October 2017, however, the IMF convened with some of the world's most celebrated economists and experts on trade and globalization to have an honest discussion on the most pressing concerns the world faces today as a result of globalization, and how to address the extensive challenges it has created. Edited by chief economist Maurice Obstfeld and senior economist Luis Catao of the IMF, the book brings together a team of respected senior economists with the most promising younger scholars to address five major themes: how globalization affects economic growth and social welfare; potential political implications of an honest discussion of globalization, and that "free trade may not be politically viable"; free trade's role in global inequality; how workers adjust or not when they're dislocated by globalization; and how trade policy influences the way countries develop their economies and societies. The book could represent a historic milestone at which the world's top economists and policymakers have an unprecedented, honest debate about the real costs and consequences of globalization"--<p/><br></br><p><b> Book Synopsis </b></p></br></br><p><b>Leading economists propose solutions to the problems of globalization</b> <p/>Globalization has expanded economic opportunities throughout the world, but it has also left many people feeling dispossessed, disenfranchised, and angry. Luís Catão and Maurice Obstfeld bring together some of today's top economists to assess the benefits, costs, and daunting policy challenges of globalization. This timely and accessible book combines incisive analyses of the anatomy of globalization with innovative and practical policy ideas that can help to make it work better for everyone. <p/><i>Meeting Globalization's Challenges</i> draws on new research to examine the channels through which international trade and the diffusion of technology have enhanced the wealth of nations while also producing unequal benefits within and across countries. The book provides needed perspectives on the complex interplay of trade, deindustrialization, inequality, and the troubling surge of nationalism and populism--perspectives that are essential for crafting sound economic policies. It tackles the vexing issue of how to most effectively compensate globalization's losers and reintegrate them into job markets. The book also explores how to design social insurance policies that can mitigate the risks posed by automation and offshoring, such as mass unemployment and its inherent dangers to democracy. <p/>With a foreword by International Monetary Fund Managing Director Christine Lagarde and a history-rich synthesis by Catão and Obstfeld of main policy takeaways, <i>Meeting Globalization's Challenges</i> features contributions by Ufuk Akcigit, Edward Alden, François Bourguignon, Angus Deaton, Rafael Dix-Carneiro, Jeffry Frieden, Gordon H. Hanson, Keyu Jin, Lori G. Kletzer, Anne Krueger, Paul Krugman, Nina Pavcnik, Andrés Rodríguez-Clare, Dani Rodrik, Michael Trebilcock, Laura D. Tyson, Martin Wolf, and Ernesto Zedillo.</p><p/><br></br><p><b> Review Quotes </b></p></br></br><br>"Catão and Obstfeld's book offers valuable insights into what globalization can and cannot deliver. The rich diversity of perspectives among a distinguished cast of contributors makes these collective readings unique, stimulating, and informative to policymakers, academics, and the general public at large."<b>--Carmen M. Reinhart, coauthor of <i>This Time Is Different: Eight Centuries of Financial Folly</i></b><br><br>"Economists tend to believe that globalization has been good for humanity. The public often thinks it brings inequality, unemployment, and social instability. This important book explains how to reconcile these different perspectives with fresh thinking about how the benefits of globalization can be preserved while the risks can be better managed."<b>--Minouche Shafik, director of the London School of Economics, former deputy governor of the Bank of England</b><br><br>"This is an extremely topical book that brings together an impressive group of top economists to discuss pressing issues related to globalization. A superb overview of a controversial subject."<b>--Douglas A. Irwin, author of <i>Clashing over Commerce: A History of US Trade Policy</i></b><br><br>"Bringing together leading experts who lay out the key issues we face today<i>, Meeting Globalization's Challenges</i> offers a nuanced, insightful, and balanced exploration that will serve as an invaluable reference."<b>--Pinelopi Goldberg, Chief Economist, World Bank Group, and Elihu Professor of Economics, Yale University</b><br><p/><br></br><p><b> About the Author </b></p></br></br><b>Luís A. V. Catão</b> is associate professor in the Lisbon School of Economics and Management at the University of Lisbon. He was formerly a senior economist at the International Monetary Fund. <b>Maurice Obstfeld</b> is the Class of 1958 Professor of Economics at the University of California, Berkeley. He was formerly chief economist at the International Monetary Fund. He is a nonresident senior fellow at the Peterson Institute for International Economics.

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