World 3.0 Global Prosperity And How To Achieve It

Since the financial crisis of 2008, many of us have had to reexamine our beliefs about markets and globalization. How integrated should economies really be? How much regulation is right? Many people fuse these two dimensions of choice into one, either favoring both globalization and deregulation— or opposing both of them.It doesn’t have to be that way. In World 3.0, award-winning author and economist Pankaj Ghemawat reveals the folly in both of these responses. He calls for a third worldview— one in which both regulation and cross-border integration coexist and complement one another. Ghemawat starts by exposing common assumptions about globalization to hard data, proving that the world is not nearly as globalized as we think. And he explains why the potential gains from further integration are much larger than even pro globalizers tend to believe. He then tackles market failures and fears— job losses, environmental degradation, macroeconomic volatility and trade and capital imbalances— that opponents of global...