Globalization

by Boudreaux, Donald J.

• ISBN13: 9780313342134
• ISBN10: 031334213X
• Format: Hardcover
• Copyright: 2007-12-30
• Publisher: Greenwood Pub Group

Summary

The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. Over the past fifty years, international business has evolved from the realm of the largest multinational corporations to the base scenario; every business and every citizen who participates in economic activity--by creating, buying, and selling products and services--is now a member of the global economy. But moving our thinking and actions beyond the local sphere is both challenging and problematic; the international domain is more complex, and introduces a new dimension of risks and uncertainties. Yet it it also ripe for business opportunity and wealth creation for those who learn how to navigate in it. Globalization defines and makes sense of the workings of the global economy--and how it influences businesses and individuals on a local scale. Each chapter identifies common questions and issues that have gained exposure in the popular media--such as outsourcing, the high cost of international travel, and the impact of a fast-growing China--to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events, this volume illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives.

Author Biography

Donald J. Bourdreaux is Chairman of the Department of Economics at Geroge Mason University.

Table of Contents

Series Foreword	p. ix
Acknowledgments	p. xiii
Globalization: Yesterday and Today	p. 1
Globalization and Material Prosperity: What's at Stake?	p. 15
Why People Trade: The Economic Case for Free Trade	p. 37
Trade, Jobs, and Wages	p. 51
Alleged Exceptions to the Case for Free Trade	p. 69
The Balance of Trade and Trade Deficits	p. 99
The Institutions of Globalization	p. 117
Conclusion	p. 139
Glossary	p. 149
Selected Bibliography	p. 155
Index	p. 159
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