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Title: ONE WORLD READY OR NOT : THE MANIC LOGIC OF GLOBAL CAPITALISM by William Greider ISBN: 0684835541 Publisher: Touchstone Books Pub. Date: 10 February, 1998 Format: Paperback Volumes: 1 List Price(USD): $15.00 |
Average Customer Rating: 3.78
Rating: 4
Summary: A bit lengthy, but great detail.
Comment: One World Ready Or Not by William Greider details one very important subject, which effects all of our lives. Greider goes into detail on the world economy, and how, "global capitalism" is destroying the world slowly, and unknown. Greider traves the world to interview hundreds of people, and ask them about his subject. Although Greider seems to streth the information out too much, he goes into great detail so that one will not be misinformed. Each chapter in his book shows a different world of economic problems. From China to South America he tells of each countries economic story. I would highly recomend this book for those interested in the details of global capitalism, but warn readers of its difficulty to understand some of his beliefs. I give this book 4 stars, the only drawback being Greiders ability to get to the point without writing too much.
Rating: 5
Summary: An Alarming But Accurate Perspective on the Global Economy
Comment: The Washington political elites repeatedly tell us how wonderful things are today; why does the American public have difficulty believing the message. Inspite of 8 years of economic growth, why is real median family income stagnant? Why is income polarization increasing across America and the entire world? Sadly, the American public is clueless to the economic forces reshaping the nation.
William Greider addresses the most important issue concerning America's economic future: the globalization of the economy and it's implications. In the new world order, capital is in limited supply but labor is in overabundance. As would be expected in a laizze faire economy, the cost of labor will remain depressed in the industrialized world.
In the developing nations across Asia and Latin America, the factory workers simply don't have the purchasing power to buy the products they are manufacturing. Since Japan has never matured into a consumer based society, developing nations especially China will add to the global oversupply of labor and production.
While few mainstream economists predicted the recent economic collapse of the 11th largest economy (ie. South Korea), William Greider's prediction of global economic chaos and collapse can no longer be ignored. "One World, Ready or Not" should be heeded by Washington policymakers mesmerized by the exuberance of the stock market.
Rating: 5
Summary: Truly an eye opener
Comment: I have learned so much from this book. In particular it has opened my eyes to the harmful effects of free trade, the potential for China to cripple economies throughout the world and how some of our government's power is being transferred to the capital markets. Before reading this book I was totally for free trade. But now I think that a tariff here and there may not be a bad thing. If you are interested in economics, finance, labor relations or free trade issues then you should definitely read this book.
Here's my summary of Greider's comments:
Free Trade & Wage Arbitrage
- Trade agreements between the US/Europe and various third- world countries is having and will continue to have a drastic impact on our economies. Given the significantly lower wages in 3rd world countries, companies are essentially wage arbitrageurs shifting production to low-wage countries such as China and Mexico. This production transfer is having a profound effect on the ability of US and Europe (particularly the US) to continue acting as the primary buyers of goods world wide. If Americans keep loosing jobs, how can they be expected to maintain their purchasing power? The same goes for Western European workers. If we can no longer be relied on as the world's largest market then the system will break down. The economies of Japan, Korea, China, Singapore, etc. are based on the fact that those countries will produce goods and someone else will buy them. Greider's does an excellent job of discussing the problem, albeit very slowly, and discussing possible solutions.
-Capital Markets & Foreign Exchange
The ability of the financial markets to dictate national fiscal policy (via fluctuation interest rates on government bonds and the like) is crippling our government. Greider basically says that the capital markets just have too much clout and that US fiscal policy is too often guided by what the markets say. He says that the government should tax foreign exchange transactions, more companies should be employee owned and he also discusses a unique way to provide access to capital to millions who don't already qualify for loans.
-Human Rights Violations
Globalization is creating an almost slave-like class of workers througout the 3rd world. Greider says that in order for this abuse to be eliminated the major markets of the world must demand that these countries abide by minimum global workers' rights standards. Improving worldwide worker income will also create more demand. This way the US doesn't have to be the buyer of last resort.
My dislikes are:
1) This book is too long, almost 500 pages. At times Greider just takes a bit too long to get to the point. He likes to draw things out, epecially when detailing his worldwide visits/travels.
2) He goes a bit over-the-top at times with his doomsday scenarios.
3) His solutions are a bit slimplistic and idealistic.
4) His obvious liberal bias gets laid on a bit too thick at times.
All in all, this book is good stuff. I think I'll try his other book: "Secrets of the Temple".
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Title: Who Will Tell The People? : The Betrayal Of American Democracy by William Greider ISBN: 0671867407 Publisher: Touchstone Books Pub. Date: 01 June, 1993 List Price(USD): $15.00 |
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Title: Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider ISBN: 0671675567 Publisher: Touchstone Books Pub. Date: 15 January, 1989 List Price(USD): $19.00 |
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Title: Fortress America: The American Military and the Consequences of Peace by William Greider ISBN: 1891620452 Publisher: PublicAffairs Pub. Date: 1999 List Price(USD): $12.00 |
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Title: Globalization and Its Discontents by Joseph E. Stiglitz ISBN: 0393051242 Publisher: W.W. Norton & Company Pub. Date: 2002 List Price(USD): $24.95 |
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Title: SPOILS OF WAR by John Tirman ISBN: 0684827263 Publisher: Free Press Pub. Date: 1997 List Price(USD): $25.00 |
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