Globalization & Its Discontents
Globalization is not what its proponents said it would be. In many countries it has failed miserably, devastating economies, communities and individual lives. Perhaps no where has its failure been more apparent than in Argentina. Few countries embraced the nostrums of World Bank and IMF experts with more fervor and enthusiasm than Argentina. It was called the poster boy of the new economic order. Argentina was once one of the most prosperous countries in the world. It has huge natural resources and a highly trained and educated workforce. Today its economy is in a shambles. An astounding 50% of its population is in poverty. Few countries have experienced such a dramatic economic collapse.
Recorded at Kane Hall, University of Washington.
Joseph Stiglitz, a professor at Columbia University, is the recipient of the Nobel Prize in Economics. He was chair of the Council on Economic Advisors under Clinton. He also served as senior vice president and chief economist of the World Bank. His efforts to move the bank in a more progressive direction got him fired. He is the author of Globalization and Its Discontents, The Price of Inequality and People, Power, and Profits.