Enhanced descriptions from Syndetics:

Over the past decade, "globalization" has become a buzzword for everything that is happening in the world economy or even in international relations generally. But as even a cursory glance at recent headlines reveals, not everyone is happy with globalization. Violent protests are now a regular feature of international summit meetings, and many young people have expressed their strong opposition to policies that they see as enriching the rich at the expense of workers, the environment, and traditional culture. <br> As the world economy has transformed in the 1990s and early 2000s, no individual has grappled with the social and political implications of globalization more than George Soros. George Soros on Globalization seeks to assess not merely how well the world's financial institutions have fulfilled their larger mission of helping the entire world strive for prosperity, but also to point the way toward fixing the problems that have emerged in the globalization regime as a whole. Unlike other proponents of globalization, Soros does not dismiss the criticisms of the protesters; indeed, he welcomes them and acknowledges that in many ways the protesters have a clearer view of the issues at stake than the bankers and bureaucrats do. We ignore the protesters' message, Soros warns, at our peril.<br>

Table of contents provided by Syndetics

• Preface (p. vii)
• Acknowledgments (p. xiii)
• Introduction: The Deficiencies of Global Capitalism (p. 1)
• 1 International Trade: The World Trade Organization (p. 31)
• 2 International Aid: The Missing Component (p. 57)
• 3 Structural Reform: The Multilateral Development Banks (p. 97)
• 4 Financial Stability: The International Monetary Fund (p. 109)
• Conclusion: Toward a Global Open Society (p. 149)
• Appendix The SDR Proposal (p. 181)
• Index (p. 187)

Reviews provided by Syndetics

Publishers Weekly Review

Financial mastermind Soros (The Alchemy of Finance, etc.) has made his mark as a philanthropist with a progressive foreign policy, fostering open societies. He equates globalization with "the free movement of capital and the increasing domination of national economies by global financial markets and multinational corporations." In this treatise, he explains how his vision to "make global capitalism more stable and equitable" acknowledges that antiglobalization protesters have a case against the mainstream consensus that the market works well. Instead of dismantling existing international financial and trade institutions, though, Soros suggests reform. Market fundamentalists, he says, are unwilling to modify existing institutions to create a level playing field; moreover, they're loath to create institutions to foster social goals like reducing poverty. Protestors, he observes, are "strangely blind" to the need to improve the quality of government and public life in poorer countries. Soros's suggested method provides aid that will "enable, encourage, and reinforce" voluntary compliance with international standards relating to environment, education and labor. His proposal? The richer countries in the IMF issue Special Drawing Rights (SDRs) for international assistance i.e., international reserve assets a process that shares the burden equitably, with the United States paying its fair share. A board of "eminent persons" chooses who's eligible for assistance, and a separate audit commission evaluates those chosen. After September 11, Soros notes in conclusion, Americans must recognize the world's precarious interdependence. Soros has an admirable track record and the virtue of hindsight (his foundations have done innovative work and his take on what could have been done in Russia over the past decade is compelling). This dry but vital book deserves attention and debate. (Mar.) Forecast: The United Nations is holding the International Conference on Financing for Development in Monterrey, Mexico, this week, and this book is sure to be talked about there. Discussions following the recent World Economic Forum in New York will fuel sales, too. (c) Copyright PWxyz, LLC. All rights reserved

CHOICE Review

A millionaire financier, international philanthropist, and critic of the global capitalistic system, Soros has written several books on the benefits and costs of so-called globalization. In this new volume he extends his views on the need for safety nets in developing countries and public goods production (e.g., education and environmental protection) and discusses the greater likelihood for financial crises due to the greater freedom now available for volatile international finance flows. Inequities of globalization have generated, on the one hand, protests against international organizations (especially the International Monetary Fund and World Bank); on the other hand, these bodies are criticized by market fundamentalists opposed to interference with the efficiencies of free markets. Soros notes that protesters overlook such causes of poverty as armed conflict, oppressive and corrupt regimes, and weak governance; and while free markets are good at generating wealth, poverty alleviation is not always inevitable. To assist poor countries, Soros proposes that rich countries issue SDRs (an international reserve asset) to the IMF, contributed according to an income-based quota system; an independent board would be appointed to supervise assistance operations. Written in generally clear, nontechnical language, this book deserves attention by students and practitioners of foreign economic affairs. General readers; upper-division undergraduate students and up; and professionals. H. I. Liebling emeritus, Lafayette College

Booklist Review

Renowned international investor and financial guru Soros outlines the problems of globalization, limiting its meaning here to «the free movement of capital and the increasing domination of national economies by global financial markets and multinational corporations.» Thus, Soros does not delve into the social or cultural applications of globalization. Criticism instead is leveled on both the «market fundamentalists»--Reagan-Thatcher types who seek to remove all impediments (taxation and regulation) to international investing--and the antiglobalization activists, who see the phenomenon as immoral. An admitted fan of globalization, Soros contends that the market is amoral but that certain reforms are necessary to ensure ethical standards. Soros' conclusion is that international institutions have not kept pace with the international economy, and a true «open society» (the title of Soros' last book) relies on that progress. A follow-up is in the offing, as the author is anxious to further expand on his open-society idea. Though the subject matter is complicated, Soros' simplified treatment makes this a timely and necessary title for any basic economy collection. Mary Frances Wilkens.

Author notes provided by Syndetics

George Soros was born in Budapest, Hungary in 1930. He moved to London to attend the London School of Economics. <p> After moving to the United States, Soros began a successful international investment fund. He opened his first foundation, The Open Society Fund in 1979. He also created The Eastern European Foundation is Hungary and the Soros Foundation - Soviet Union in 1987. With his great success, Soros funded a network of foundations in more than thirty countries. <p> Soros has also published many book including The Alchemy of Finance, Opening the Soviet Union, Soros on Soros: Staying Ahead of the Curve, and The Crisis of Global Capitalism. He has also received honorary degrees from the New School of Social Research, Oxford University, the Budapest University of Economics, and Yale University. <p> (Bowker Author Biography)