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More information from http://www.researchandmarkets.com/reports/662398/









Globalization: n. The Irrational Fear that Someone in China will

Take your Job



Description: Most supporters and opponents of globalization accept as true certain key ideas that govern the

terms of the debate. Globalization, they contend, is the single dominant force shaping the world's

economies both today and into the future; an irresistible and growing part of economic reality. They

see the fates of business, labor, and entire nations all determined by their ability to adapt to its

dictates. These and other similar notions have become so completely accepted that they are now

embraced as the conventional wisdom. In this book, the authors argue that these ideas are either

largely false or at best highly exaggerated.



The book presents a very different position, based on a serious look at the history of globalization

and a reader-friendly presentation of the economic data that dramatically refute the accepted

truths advanced by so many of its commentators. Central arguments include: globalization is not a

new phenomenon, but has grown and diminished throughout modern history; dealing with

globalization requires local and specific rather than generic and global responses; and that as

services come to dominate national economies, globalization will wane in importance.



Authors bio:

Bruce C. Greenwald, PhD, is one of the nation's leading economists. He currently serves as the

Robert Heilbrunn Professor of Finance and Asset Management at Columbia University's Graduate

School of Business. Greenwald consults worldwide on a variety of issues concerning capital

markets, business strategy, corporate finance, and labor performance. He is also the author,

coauthor, and editor of several books, including Value Investing: From Graham to Buffett and

Beyond (Wiley) and Competition Demystified.



Judd Kahn, PhD, is currently COO of Hummingbird Management LLC. Prior to joining Hummingbird,

he was an historian, the CFO of a privately owned manufacturing company, and a consultant to

government and not-for-profit agencies.?Kahn cowrote Value Investing: From Graham to Buffett

and Beyond and Competition Demystified with Bruce Greenwald.







Contents: Acknowledgments.



Introduction: Just How Global Are We?



Chapter 1. It May Be News, but It Isn't New.



A Brief History of Globalization.



Tradable Goods.



From Goods to Services.



So Which Services Remain Rooted?



Why So Newsworthy?



Chapter 2. Countries Control Their Fates.



How Little Globalization Explains.



Who Calls the Shots?



An Inadvertent Experiment.



The Uneven Course of Manufacturing.

The Recipe for Productivity Growth.



The Importance of Incremental Improvements.



Tell Me Again: Why Is China?



Episodic Improvements and Retreats.



Widely Shared Diversions.



What About Free Trade?



Keep It Local.



Chapter 3. Employment Trends for Globalization 3.0.



Are All the Good Jobs Going Away?



Recent History as a Guide.



Recent Patterns of Employment and Unemployment in the United States.



The Changing Nature of Work.



The Meaning Is in the Details.



That Giant Sucking Sound Is Coming From…



But Will the Future Be Different?



What About Wages?



Chapter 4. Can We Make Any Money?



What Globalization Does to Profits.



Companies under Globalization 3.0.



Why Some Companies Are Profitable.



Profits in Competitive Markets: Low Before Globalization, Low After.



Profits in Protected Markets: Do They Survive?



How to Keep Competitors Out.



The Special Role of Economies of Scale Advantages.



Competitive Advantages in a Global World.



The Future of Profitability.



Chapter 5. International Finance in a Global World.



Flow of Funds.



Foreign Direct Investment: Not Where the Action Is.



Financial Markets and Portfolio Investment: Not Here Either.



Institutions as Investors: These Do Matter.

Safer at Home: Financial Markets and the Limits of Globalization.



Global Capital Markets and Economic Development: More Headlines than Production Lines.



Chapter 6. A Genuine Global Economic Problem.



The Link between Reserve Currencies and Global Financial Stability.



Chronic Surplus Countries and Monetary Mercantilism.



The Global Financial System and Global Economic Stability.



The Situation of the United States.



A Modest Proposal for a New Reserve Currency.



Conclusion: Beyond Economics.



Globalization and Everything Else.



One Last Question.



Notes.



About the Authors.



Index.







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