George Soros on Globalization

George Soros on Globalization

George Soros on Globalization

George Soros on Globalization

Synopsis

As the global economy becomes at once a fact of everyday life and the inspiration for violent protest, Soros offers his provocative analysis of globalization and outlines a new agenda for leading nations of the world. Charts and graphs.

Excerpt

My goal in writing this book is not only to shed light on how global capitalism works but also to suggest ways in which it could be improved. For this purpose, I have adopted a rather narrow definition of globalization: I equate it with the free movement of capital and the increasing domination of national economies by global financial markets and multinational corporations. This approach has the advantage of narrowing the focus of discussion. I contend that globalization has been lopsided: The development of our international institutions has not kept pace with the development of international financial markets and our political arrangements have lagged behind the globalization of the economy. Based on these premises I have formulated a set of practical proposals that would make global capitalism more stable and equitable.

I was stimulated to embark on this undertaking by what I saw as an unwitting alliance between market fundamentalists on the far Right and antiglobalization activists on the . . .

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