Globaloney 2.0 : The Crash of 2008 and the Future of Globalization

Globalization is in retreat, but history tells us that this is but a temporary reversal. Globalization will return, but in what form? More cycles of boom and bust? Or can globalization be rebuilt on a more feasible and sustainable platform? These are the compelling questions that Michael Veseth tackles in this thoroughly revised and updated edition of his award-winning book.Veseth shows how pre-crash visions of globalization were based on three powerful myths: that global finance was a stable foundation for a global economy, that global markets homogenized and Americanized the world, and that globalization itself was irresistible—impossible to shape or oppose at any level from the grassroots on up. The world economic crisis has revealed globalization's Achilles heel: the fundamental instability of global financial markets and the unsettled foundation of economic globalization generally. This realization is a necessary first step, but it alone is not enough. We must rethink the rest of globalization's myths, Veseth persuasively argues, if we want to move beyond boom and bust to a sustainable global future. CONTENTS......Page 6 ACKNOWLEDGMENTS......Page 8 INTRODUCTION......Page 10 CHAPTER 1. GLOBALIZATION? OR GLOBALONEY?......Page 20 CHAPTER 2. FINANCIAL GLOBALONEY: Safe as Houses......Page 44 CHAPTER 3. THE CRASH OF 2008 AND THE GLOBAL MARKET MYTH......Page 64 CHAPTER 4. GOLDEN ARCHES GLOBALONEY......Page 82 CHAPTER 5. THE ONLY GAME IN TOWN......Page 106 CHAPTER 6. GRASSROOTS GLOBALONEY......Page 130 CHAPTER 7. SLOW-BALIZATION: Using Globalization to Fight Globalization......Page 150 CHAPTER 8. GLOBALIZATION AND THE FRENCH EXCEPTION......Page 166 CHAPTER 9. THE FUTURE OF GLOBALIZATION (AND GLOBALONEY)......Page 190 NOTES......Page 210 BIBLIOGRAPHY......Page 224 INDEX......Page 230 ABOUT THE AUTHOR......Page 238 Globalization is in retreat, but history tells us that this is but a temporary reversal. Globalization will return, but in what form? More cycles of boom and bust? Or can globalization be rebuilt on a more feasible and sustainable platform? These are thecompelling questions that Michael Veseth tackles in this thoroughly revised and updated edition of his award-winning book. Veseth shows how pre-crash visions of globalization were based on three powerful myths: that global finance was a stable foundationfor a global economy, that global markets homogenized and Americanized the world, and that