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Is anyone familiar with the book “GLOBALIZATION AND ITS DISCONTENTS” by Joseph Stiglitz. I have an assignment where the aim is write a short commentary on some aspect of the Stiglitz critique. Does anyone have any experience with this? What I’m looking for is narrowing this down to one aspect of Stiglitz critique and key points for the commentary.
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Mr. Joseph Stiglitz who is a famous economist and noble prize winner has written this powerful book. He had been a chairman of the Council of Economic Advisers and chief economist at the World Bank. This book describes or say share the experience of the economist in relation to the globalization and the global financial institutions
He had talked about the perils of globalization and the ill effect of world financial institutions such as IMF. He had been disillusioned of IMF’s role in the world economy.
Thus I will discuss the IMF as an institution and then its role.
IMF that is International Monetary fund is an international organization. Its mission is to provide financial assistance to countries that experience serious financial difficulties. It was created at Bretton Woods Conference.
According to the Mr. Joseph IMF’s austerity program is controversial. It propounds of increasing in taxes for the weaker economies also to raise government revenue and balance budget deficits. It is opposite to the Keynesian theory. These policies were criticised by Joseph E. Stiglitz, former chief economist at the World Bank, in his book Globalization and Its Discontents. It has led to the aggravation of the poverty of …
