Name: De-Globalization: Ideas for a New World Economy
Rating: 7.14 (63 reviews)
Author: Walden Bello
ISBN: 9781842773055

Walden Bello's De-Globalization: Ideas for a New World Economy examines the trajectory of global economic integration and its consequences. The book presents a critical history of institutions such as the World Bank, IMF, WTO, and the Group of Seven, highlighting their role in promoting economic globalization. It details the manifest failings of this system, including recurrent financial crises, a widening gap between developing and industrialized nations, persistent inequalities, and widespread poverty.

Bello argues for a fundamental reorientation of the global economy, advocating for a shift towards a decentralized, pluralistic system of global economic governance. The concept of deglobalization is introduced not as isolation, but as a framework for restructuring the world economic and political system to strengthen local and national economies. This approach prioritizes the needs of people, nations, and communities over those of transnational corporations, proposing policies that foster production for domestic markets and expand democratic decision-making in economic matters. The book offers a comprehensive vision for an alternative economic order, seeking to empower societies to pursue development strategies aligned with their values and opportunities.

Positives

The book is widely praised for its incisive and prescient analysis of globalization and international trade. Reviewers highlight its insightful and fascinating historical account, serving as a valuable primer on trade from the post-war era to the present day. Many find its core argument for deglobalization highly relevant, especially in the context of rethinking global economic systems. It is seen as a remarkable contribution to current debates, offering a framework for a more humane global system and a strategic approach to challenge neoliberal globalization. The detailed exploration of concepts like deglobalization, emphasizing domestic market importance and community-driven economies, is considered thought-provoking and essential for those advocating for alternative economic models.

Negatives

Despite its strengths, the book receives criticism for several aspects. Some reviewers note that certain parts feel dated, given its publication and re-release dates, with some prognoses having been superseded by more recent events. A significant drawback mentioned is the writing style, which some found less engaging or convincing than desired. Readers also reported difficulties in understanding numerous specialized business terms and abbreviations, often requiring external research. Furthermore, some felt the book did not present entirely new information, likening it more to a collection of newspaper articles due to perceived repetition of ideas and a lack of consistent organization. One reviewer even dismissed it as "ideological rubbish," suggesting it may not be useful for either specialists or general readers.

Conclusion

In conclusion, the book offers a compelling and often prescient critique of the global economic system, advocating for a deglobalization paradigm that prioritizes local markets and community needs. While its insights into the history and mechanisms of international trade are valued, potential readers should be aware of its occasional datedness, potentially challenging terminology, and a writing style that some find repetitive. This book would be particularly appealing to readers interested in critical perspectives on globalization, alternative economic theories, and a historical overview of institutions like the WTO, IMF, and World Bank. It is best suited for those willing to engage with a strong ideological stance and who are seeking to understand the arguments for a fundamental restructuring of the global economy.