Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump by Joseph E. Stiglitz

In Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump, Nobel Prize winning economist Joseph E. Stiglitz takes a critical look at the effects of globalization both historically and today. He argues that while globalization has opened up new opportunities and markets to some, it has created inequality and suffering to many. Through his studies of the regional and global economy, Stiglitz proposes strategies to improve the global economy, particularly in the wake of recent austerity measures in many industrialized countries.

Globalization has had a drastic effect on the global economy since its inception in the late 20th century. One of the primary consequences of globalization has been the uneven distribution of wealth and income. This is due, in large part, to the fact that, throughout the world, wages have been falling and profits are on the rise. As Stiglitz observes, this has caused economic inequality around the world as different countries experience different economic benefits from globalization. In the United States, for example, the greatest gains from globalization in the past decade have gone to the top 1%.

In a global economy, issues such as poverty, inequality, and child labor become even more pronounced. Stiglitz argues that these issues cannot be addressed through traditional economic and political solutions since the forces of globalization are too strong. He believes that addressing these issues requires a multifaceted approach including grassroots development, international cooperation, and advances in technology.

Throughout the book, Stiglitz paints a bleak picture of the global economy, but he also offers solutions through his tenets of progressive globalization. He proposes such measures as increased public spending, protection of workers’ rights, and regulation of multinational corporations. He highlights how these measures could potentially create jobs, provide social services, increase living standards, and provide basic education.

Stiglitz is particularly critical of the policies of the Trump administration, which he believes are damaging both to the global economy and individual countries’ economies. He argues that Trump’s aggressive use of trade tariffs, as well as his social and environmental policies, are having a negative effect on the global economy. He also believes that Trump’s economic policies are widening economic inequalities between countries as well as creating economic instability.

In Globalization and Its Discontents Revisited, Stiglitz argues for an alternative economic model to that of neoliberalism. He believes that the recent policies implemented by the Trump administration have only widened economic disparities across the globe, and his progressive global vision seeks to reduce those disparities and create a more equitable economy. Through his exploration of the complex and interconnected problems of globalization, Stiglitz calls for a more inclusive and equitable approach to the global economy, one that creates opportunities and raises living standards for all people, regardless of race, gender, and geographical region.