Earlier this year my editor asked if I would be interested in revising my last book, Globaloney, to take into account the impact of the financial and economic crisis on globalization. Would I? Yes!
So I've been working hard on a major revision, which we are calling Globaloney 2.0: The Crash of 2008 and the Future of Globalization. Click on the link to learn more about the work.
Here is a thumbnail sketch of the book:
The idea that there is no alternative to the global market is dead for now as the world economic crisis has unmasked that “globaloney.” 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.