Economics - economic globalization

[drydem]

Where is the World Going Mr. Stiglitz?
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is a 2007 DVD set of five lectures/videos by Economist Joseph Stiglitz cover the economic disparities and other problems caused by Economic Globalization -- it is about six hours long... below is its website.

http://www.stiglitzfilm.com/

check your library catalog it might be there...


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for something shorter and online you can check the follow 2010 youtube speech which summarizes many points made in in the 2007 dvd ( funny how things haven't change that much even after 3 years)

The Failure of Economics -

A 2010 February 8th lecture by Joseph Stiglitz providing an interm report on the Global Recession: bad economic incentives, bad bankers / financiers, lack of economic regulations, the creation of bad mortgages, incentives based on profits without normalizing profits by the risk taken, erroroneous economist and main stream economic thought advocating a self correcting market and flawed concepts on the efficiency of free markets(Adam Smith). The Obama Administration stimulus program was too small to work but current debt level prevents it from getting bigger stimulus.


Stiglitz offers the following advise to fix economic globalization
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banking/financing Transparency,
elimination of bad financial incentative espec for big banks,
reform financial structural reform/regulations
reform of futures markets
an international/national standard/treaty to regulate banks and financiers.


part 1 = 14:27 minutes
http://www.youtube.com/watch?v=UzlAVrOQ_qE

part 2 = 8:28 minutes
http://www.youtube.com/watch?v=VBeL6...eature=related

part 3 = 11:04 minutes
http://www.youtube.com/watch?v=a0ila...eature=related

part 4 = 9:42 minutes
http://www.youtube.com/watch?v=0L37j...eature=related

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for something even shorter and even more recent - you can watch the following youtube video...

Joseph Stiglitz and Peter Mandelson
Freeland discussion Jan 26, 2012 (9:08 minutes)

summary
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European effort to push austerity to recover fix it economy and move out of its current economic recession will not work (e.g. Greece/France) because it fails to address job creation and economic growth. Even if jobs are created economic globalization is forcing down wages in developed nations while elevating the wealth of the very rich creating abnormally high income disparity. For global economics to work, nations governments must financially support and retraning its labor force continually to readapt as the global and local economies change.


http://www.youtube.com/watch?v=CV6qm...eature=related

[drydem]

dvd summary: Developing countries that used (liberalized) short term (capital markets) loans to finance long term projects got into trouble because the debt balance being carried over this credit card account was suspectible to unstable short term interest rates. Economic Globalization does not alway open up trade barriers - there are numerous way to create trade barriers and numerous of ways to "play" the system using large monopolies and government subsidies. Smaller less sophisicated developing countries often come out on the short of the deal while wealthier developed countries often come out ahead of the game. Irresponsible corporations that cause environmental damage and leave the mess behind can do so because they are not bonded and have no assets by which a jurisdiction can seize to get funds to repair the environment and compensation those who are injured by corporate wrongdoings.