Summary of Globalization and Its Discontents

Globalization and Its Discontents, written by Nobel laureate Joseph Stiglitz, is a critical analysis of the policies and practices of the International Monetary Fund (IMF) and global economic policy-making. Stiglitz argues that the IMF and other international financial organizations have led to greater inequality and suffering in developing nations, as well as to numerous economic crises in those nations. He provides a number of examples of how the current system has failed to address global poverty and suggests more equitable solutions that involve greater public participation. He also explores the role of the United States in the development of global economic policy and the implications this has for cooperation and poverty relief.