9780131428966

Globalization Gap, The: How the Rich Get Richer and the Poor Get Left Further Behind

by
  • ISBN13:

    9780131428966

  • ISBN10:

    0131428969

  • Format: Hardcover
  • Copyright: 1/1/2005
  • Publisher: FT Press
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Summary

Globalisation is a fact of life, but how can we keep the poor from being left behind forever bull; Globalisation's blowback: disease, revolution, terror, and accelerating economic and political instability. bull; The revolt of the rich: How the world's wealthiest have taken control -- and why globalisation is failing for everyone else. bull; Making globalisation work for everyone: building sustainable opportunity for the world's poor.

Author Biography

Robert A. Isaak is Henry George Professor of International Management at Pace University, New York.

Table of Contents

About the Author
Preface
Introduction
The Revolt of the Rich
Time versus Opportunity
The Rich: Who They are and How They Work and Why They Speed Things Up
Who the Rich Are and How They Live
Big, First, and Well Positioned
Bigger Houses with Fewer People in Them
Education Equals Savings and Investment
The Truly Rich Are Really Thrifty
Harried Leisure and Time Deprivation
Pyramids of Opportunity
Corporate Wealth and Hedging
The Global Speed Trap: Diversifying to Ward off Losses and Old Age
How the Global Economy Is Speeding Up
Attention Deficit Disorder: Metaphor for Cultural Disintegration? The Graying of the Rich: From Baby Boom to Bust
The Poor: Who They Are, How They Live, And Why They Are Dependent
Why the Poor Are Where They Are
Income Inequality
Is the World's Middle Class Disappearing? Asset Inequalities
Democratic Deficits versus Too Much Democracy
A Passage Through India
Emerging Modernity
Reinforcing Poverty through Religion and Cultural Traditions
"Indian Time," Caste, and Aesthetic Design Confront Globalization
High-Tech Bangalore and the Time Warp
Poverty Traps
The Institutional Trap
The Trade Trap
The Educational Trap, the Gender Gap, and the Digital Divide
The Debt Trap
Cultural Traps and Governability
Property Laws, Legal Traps, Limited Markets
The Rules
Origins of the Rules of Globalization
Protecting Comparative Advantage: Making the Most of What You've Got
The "Fixing" of Exchange Rates
Oil Cartels and Petro-Dollars
Democratizing Investment Banking
Trade Rules
From Scarcity to Ubiquity: Digitization and the Falling Cost of Information
How the Rules Rule the Poor
How Free Capital Flows Can Create the Poor
The Competitiveness Mantra: Consolidate, Raise Productivity, Downsize, Outsource
Crisis and Solutions
Global Crises We Will All Face
Too Many People in the Wrong Places
The Spread of Plagues and Epidemic Diseases
The Rapid Global Spread of Unemployment and Underemployment
The Education Crisis: Elite Hierarchies Confront Desperate Demands for Tools and Open Access
From Corporate Oligarchy to Chaos
The Environmental Crisis
American Unilateralism: Taxation Without Representation? Proliferation of Nuclear, Chemical, and Biological Weapons
A Blueprint for Sharing Opportunity
Keeping the Promise of Democratic Capitalism: Open Opportunity
Why It Benefits the Richest of the Rich to Help the Poorest of the Poor
Building High-Tech, Sustainable Communities
Ten Steps for Replicating Sustainable Silicon Valleys
Attracting Venture Capital: A Transparent NGO with a Nonbusiness Service Division
Resistance to Free Market Ideology Due to the Democratic Deficit
The Interface with Governments and International Organizations
Acknowledgments
Index
Table of Contents provided by Publisher. All Rights Reserved.

Excerpts

Preface: The Globalization Gap The Globalization Gap Preface The rich have always lived differently than the poor. What is new is that globalization speeds up the economy, magnifying the chasm between them. Both at home and abroad, the extremes of wealth and deprivation have become so great that the stability of the global system is threatened. Indeed, the very existence of individual freedom and dignity promised by the Western democratic tradition is at risk. Globalization has not only boosted the technological capacity to increase productivity, development, and progress but has accelerated the spread of poverty, disease, and the disintegration of traditional cultures. Those at the top of the global heap have great buffers of wealth to help them cope with the radical transformations, but the poor do not. There is a general failure to respond to the relentless downward spiral of poverty for millions of people. Rich individuals and corporate and government "drivers" of change are in part responsible for the excessive poverty that results from reckless efforts to push for rapid economic growth and competition at all costs. Socioeconomic inequality on a global scale became the focus of my attention due to my research on the factors behind the emergence of "economic miracles" in some nations; on the prerequisites for "ecopreneurship," or sustainable job creation; and on attempts to mimic Silicon Valley in other cultures. My interest in the puzzle of uneven development intensified with the extreme contradictions I experienced on a trip to India, where layers of culturally intricate poverty are woven beside small islands of luxury and modernity. If what is happening is not totally random, how have the rich helped to fashion a world order that maximizes their advantages, creating greater social and economic distance from the poor? The wealth generated by globalization is supposed to spill over and trickle down to where it is needed. But so far, things are not working out that way, apart from newly industrialized countries in Southeast Asia and perhaps, as the big exceptions, parts of China and India--exceptions exactlybecausetheyarebig. (In a free market world, the size of the market is what counts). Even in industrialized countries, the differences between rich and poor are growing without restraint. In this group, the United States is the most important country, because what happens in this superpower has, by necessity, a huge impact on other nations. Therefore, this book also examines the American situation, where there has been a disconcerting downward spiral hidden by the distraction of the boom of the 1990s and by the shiny residual pockets of growth and glamour which are applified by the media. In the post-boom era, poverty has been growing in the United States. Median income has been falling. Pensions are threatened. Social Security is underfunded. Health care costs are shooting up. Manuf

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