Brian Snowdon: Globalisation, Development and Transition: Conversations with Eminent Economists.

Author:M.B., Dhanya
Position::Book review

Brian Snowdon Globalisation, Development and Transition: Conversations with Eminent Economists, Cheltenham: Edward Elgar, 2007; 537 pp.: 9781845428501 115 [pounds sterling] (hbk)

Brian Snowdon's Globalisation Development and Transition: Conversations with Eminent Economists is an insightful foray into globalisation, penetrating into its history and development as it enables us to comprehend the costs and benefit of globalisation. This text begins to contribute such debate by surveying the major economic issues that have helped to shape the modern world through the detailed interviewing of eleven leading economists. The bottom line is that it is a must-read for anyone interested in globalisation, or in the lessons to be learned from economists on how their work can help to shape the course of world history in the 21st century, especially in areas such as the impact of globalisation, the political economy of reforms, economic integration, democracy and development, etc. Subjects covered in the book include the word 'globalisation', discussions of 'The Great Reversal', financial globalisation, exchange rate regimes and the 'open economy trilemma', international labour migration, the 'offshore outsourcing controversy', and improving competitiveness in the global economy; and they all provide readers with the opportunity to develop their own ideas about the process of international integration. The setting of economic development in historical perspective helps us to understand how societies have organised themselves politically and economically, and how they have performed through the ages. It provides lessons about the differences of economic performances over a time period that can be useful information for contemporary policy makers with reference to human development indices.

The rise and fall of the socialist system is one of the most important trials of transition in the 20th century, which will induce us to think about its causes and consequences and also reflect on the political economy of the transition process. Hence a key, leading issue in the process of reform is the choice of transition strategy and the supporting role of government. This book begins by exploring the concepts, issues and facts of globalisation, and then the dialogic process of the interview section clarifies modern trends in globalisation, opening new vistas of information to the readers. The author's interviews with well known economists are enormously useful. Each economist's...

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