Globalization in Question: The International Economy and the Possibilities of Governance

'Globalization' is one of the key concepts of our time. It is used by both the right and the left as the cornerstone of their analysis of the international economy and polity. In both political and academic discussions, the assumption is commonly made that the process of economic globalization is well under way and that this represents a qualitatively new stage in the development of international capitalism. But is there in fact such a thing as a genuinely global economy? "Globalization in Question" investigates this notion, providing a very different account of the international economy and stressing the possibilities for its continued and extended governance. The new edition of this best-selling text has been thoroughly revised, updated and expanded to take into account new issues which have become salient in the period since the first edition was published, including the impact of the internationalization of economic relations on the welfare state; the various debates about the concept of 'competitiveness'; the Asian crisis; and the relationships between the North and the South in terms of their effects on wage rates and living standards. "Globalization in Question, Second Edition", is a timely intervention into current discussions about the nature and prospects of globalization. This book has far-reaching implications which will be of interest to students and academics in a number of disciplines including politics, sociology, economics and geography, as well as to journalists and policy-makers.

Table of Contents:
List of Figures. List of Tables. Preface to the Second Edition. Acknowledgements. Acronyms and Abbreviations. 1. Introduction: Globalization - A Necessary Myth? 2. Globalization and the History of the International Economy. 3. Multinational Companies and the Internationalization of Business Activity: The Consequences of 'Globalization' for National Systems. 4. North-South Trade and International Competitiveness. 5. The Developing Economies and Globalization. 6. Can the Welfare State Survive Globalization? 7. Economic Governance Issues in General. 8. The European Union as a Trade Bloc. 9. Globalization, Governance and the Nation-State. Notes. References. Index.

About the Author :
Paul Hirst is Professor of Social Theory, Birkbeck College, University of London and Senior Lecturer in Economics at the Open University. Grahame Thompson is Professor of Political Economy at the Open University.

Review :
"Paul Hirst and Grahame Thompson offer one of the best and most iconoclastic attempts yet at mapping the new global economy." Will Hutton, The Observer "A timely and critical study of the current discussion about the nature and prospects of a global economy." Business Horizons "One of those rare books that deserve to be read across the social sciences, from economics to politics, sociology and anthropology. Hirst and Thompson show that views about the international economy widely accepted on the right and the left rest on a series of erroneous factual claims. They make a strong case for a social democratic agenda as not only feasible but also more effective than that of economic liberalism." Robert Wade, Brown University