%0 Book %1 Wolf2004 %A Wolf, Martin %C New Haven, Conn. %D 2004 %I Yale University Press %K Globalisierung Frieden Kapitalismus Freiheit Demokratie %T Why Globalization Works %X vgl. die Rezension und auch wolf2005 The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization's critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multi-national corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market, but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.

@book{Wolf2004, abstract = {vgl. die {R}ezension und auch wolf2005 {T}he debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. {I}n this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. {M}artin {W}olf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. {W}olf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. {H}e dissects the agenda of globalization's critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multi-national corporation, and devastates the environment. {T}he author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market, but of politics and government, in rich countries as well as poor. {H}e examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.}, added-at = {2011-02-04T14:45:32.000+0100}, address = {New Haven, Conn.}, author = {Wolf, Martin}, biburl = {https://www.bibsonomy.org/bibtex/2c007387792ab3c3dbe39f891b30f8bd9/droessler}, groups = {public}, interhash = {76419641617f191cb04fce6d98fadcc1}, intrahash = {c007387792ab3c3dbe39f891b30f8bd9}, keywords = {Globalisierung Frieden Kapitalismus Freiheit Demokratie}, publisher = {Yale University Press}, review = {From {P}ublishers {W}eekly {T}he author, a {F}inancial {T}imes editor, makes a conventional economist's argument for globalization that is not likely to convince many skeptics. {H}is faith is that growth and everything else good comes from "the market," while any problems with globalization must be the fault of governments. {W}olf doesn't consider that economic processes redistribute power and therefore transform politics and the possibilities of government action. {L}ike so many economists, he analyzes primarily aggregate statistics: gray averages. {F}or example, using aggregate figures he argues that workers in rich countries are paid more because they are much more productive than workers in poor countries are. {T}hus high-paid workers need not fear that competition from low-paid workers will undermine their economic security. {T}he reason, he explains, is that workers in developed countries work, on average, with far less capital per worker. {W}hile this is true in aggregate, for a particular transnational firm deciding whether to locate a new factory in {S}hanghai or {C}hicago, the difference in productivity will rarely be as great as the wage differential. {T}herefore, as long as other costs and risks do not overwhelm the benefit of cheaper labor, there is a long-term tendency for investment and jobs to flow toward low-wage countries. {W}olf neglects the profound consequences of relative labor immobility (because of immigration restrictions and cultural barriers) compared with the mobility of products, many services and capital, one of the characteristic features of contemporary globalization. {C}opyright © {R}eed {B}usiness {I}nformation, a division of {R}eed {E}lsevier {I}nc. {A}ll rights reserved.}, signatur = {oek 3968/169}, standort = {TIB/UB Hannover FBW}, timestamp = {2011-06-22T14:55:54.000+0200}, title = {Why {G}lobalization {W}orks}, username = {droessler}, year = 2004 }