Quotes from book
Making Globalization Work

Making Globalization Work

Joseph E. Stiglitz

Making Globalization Work is a book written by Nobel Prize laureate Joseph E. Stiglitz, who also wrote Globalization and Its Discontents and several other books.

“Development is about transforming the lives of people, not just transforming economies.”

Joseph E. Stiglitz book Making Globalization Work

Source: Making Globalization Work

“In the long run, the most important changes required to make globalization work are reforms to reduce the democratic deficit.”

Joseph E. Stiglitz book Making Globalization Work

§10, p. 284
Making globalization work (2006)

“The problem is easy to state: developing countries borrow too much—or are lent too much—and in ways that force them to bear most or all of the risk of subsequent increases in interest rates, fluctuations in the exchange rate, or decreases in income. Given this, it is not surprising that they often cannot repay what is owed.”

Joseph E. Stiglitz book Making Globalization Work

§8
Making globalization work (2006)

“Limited liability should not be sacrosanct. Like property rights—including intellectual property—it is a creation of man, to provide appropriate incentives; when that artifice fails to fulfill its social function, it needs to be modified.”

Joseph E. Stiglitz book Making Globalization Work

idem, p. 207
Making globalization work (2006)

“TRIPs imposed on the entire world the dominant intellectual property regime in the United States and Europe, as it is today. I believe that the way that intellectual property regime has evolved is not good for the United States and the EU; but even more, I believe it is not in the interest of the developing countries.”

Joseph E. Stiglitz book Making Globalization Work

§4.2 TRIPs, p. 117
Making globalization work (2006)

“Intellectual property does not really belong in a trade agreement.”

Joseph E. Stiglitz book Making Globalization Work

§4.2 TRIPs, p. 116
Making globalization work (2006)

“Innovation is important; it has transformed the lives of everyone in the world. And intellectual property laws can and should play a role in stimulating innovation. However, the contention that stronger intellectual property rights always boost economic performance is not in general correct. It is an example of how special interests—those who benefit from stronger intellectual property rights—use simplistic ideology to advance their causes.”

Joseph E. Stiglitz book Making Globalization Work

§4, p. 106
Making globalization work (2006)

“The era of multilateral trade liberalization seems to be nearing an end (at least for a while), as well-founded disillusionment in the developing countries combines with growing protectionist sentiment in the developed world.”

Joseph E. Stiglitz book Making Globalization Work

§3, p. 81
Making globalization work (2006)

“In part, free trade has not worked because we have not tried it: trade agreements of the past have been neither free nor fair. They have been asymmetric, opening up markets in the developing countries to goods from the advanced industrial countries without full reciprocation.”

Joseph E. Stiglitz book Making Globalization Work

§3, p. 62
Making globalization work (2006)

“New technologies (reinforced by new trade rules) are enhancing the market power of incumbent, dominant firms, such as Microsoft, which are all from the developed world; for the first time, in a key global industry, there is a near-global monopolist.”

Joseph E. Stiglitz book Making Globalization Work

§2, p. 58
Making globalization work (2006)

“The natural resource curse is not fate; it is choice. The exploitation of natural resources is an important part of globalization today, and in some ways the failures of the resource-rich developing countries are emblematic of globalization's failures.”

Joseph E. Stiglitz book Making Globalization Work

§5, p. 149
Making globalization work (2006)

“If there is to be support for trade globalization in the developed world, we must make sure that the benefits and costs are more evenly shared, which will entail more progressive income taxation.”

Joseph E. Stiglitz book Making Globalization Work

§3, p. 100
Making globalization work (2006)

“When I was at the World Bank, it would often be said in the face of obvious failure that our strategy was correct, it just wasn't implemented well.”

Joseph E. Stiglitz book Making Globalization Work

§2, p. 52
Making globalization work (2006)

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