MACMILLAN Globalization and National Economic Welfare

Globalization and National Economic Welfare makes an original, powerful and timely contribution to a highly topical issue that affects all countries by showing why globalization is unsustainable in the long term without fundamental changes in existing attitudes and institutions. The book analyzes one of the most important aspects of economic policy at the beginning of the twenty-first century: how to overcome the growing threat that inequalities created by globalization pose, both nationally and internationally, to economic progress and political stability. Economic problems, from corporate fraud and bankruptcies to the high social costs of the adjustments that globalization imposes on individual countries, are becoming increasingly international and, consequently, demand action at the supranational level. Yet the effective institutional framework for dealing with these problems remains national. In contrast to the neo-liberal approach, the author argues that the state, as the only form of organization that has the power to reconcile conflicts of interest nationally and internationally, has a critical role to play in ensuring that globalization does not end in failure and war. Review 'This book is one of the most penetrating analyzes of the complex interplay of growing international economic interdependence, institutional dynamics and the changing domains of collective choice.' - Robert Scazzieri, University of Cambridge 'In this creative response to the large issues raised by globalization, Mica Panic combines broad experience in industry, government, the Bank of England and the United Nations with in-depth academic analysis. He is ideally placed to give both diagnosis and prescription and does so convincingly and in a style accessible to non-economists.' - Professor David Ford, University of Cambridge 'This is an impressive collection of essays. They are written in a non-technical way that makes them accessible to a fairly wide readership. They also deal with many important issues that the economics profession tends to ignore. Taken as a whole, they provide a coherent and unusual overview of the world economy and its modern evolution and operation. After reading this collection I felt that I had really learned something profound about the forces now shaping the world economy. As someone who is instinctively sceptical of international institutions and international economic regulations, as I read this book I found myself questioning some of my long-held beliefs.' - Robert Rowthorn, Professor of Economics, University of Cambridge 'Panic brings an expert economic practitioner's insight to bear on the pressing issues of the management of globalization, but carefully places his economic diagnosis in its necessary historical, political and institutional context.' - Professor Ian Clark, University of Wales Aberystwyth Globalization is a phenomenon of major contemporary importance. Panic has written an excellent and wide ranging book, covering all the important topics in a clear and comprehensible way. It deals with theory, and economic policy, and is soundly based on what is happening in the real world. It will be of use to experts, students of economics, and informed members of the general public.' - Lord Peston About the Author M. PANIC is a fellow of Selwyn College, University of Cambridge and Visiting Professor of International Economics at the University of Milan, Italy. He is also Vice-Chairman of the United Nations Committee for Development Policy. His previous positions include posts in the Economic Department at the Ford Motor Company, as an Under-Secretary in the UK Government Economic Service and as Head of External Policy Division at the Bank of England and the Bursar of Selwyn College. He has served on a number of international committees and is a member of the United Nations Committee for Development Policy. His publications include numerous books and articles on inter