One World, Ready or Not: The Manic Logic of Global Capitalism

I read this book in 2001, and still remember clearly Grieders description of the end game he predicted (global deflation). The US kept the game going for longer than expected, by fueling debt growth greater than anticipated. Now its all falling apart. Very sad.

No one writes with more verve, insight, and human compassion than long-time Rolling Stone contributor and Editor William Greider. His perspective always centers on the human cost of social phenomena, and is always heartfelt, compassionate, and extremely well focused. In this book he centers in brilliantly on the ways in which the so-called "Third Wave" of global trading and commerce is poised to transform the social, economic, and political landscape of the countries in which it is being introduced. His writing skills are superb, and the ordinarily dry and stuffy stuff of economics come alive in this highly readable and quite entertaining work. In fact, reviewer Brink Lindsey of the Kirkus Review called this book "the best-written book on the global economy" he had ever read. Ditto, Mr. Lindsey, ditto. I also agree with his observations calling the prose energized, clear, and sharp. However, I disagree with the negative criticism many other critics and reviewers have voiced concerning Mr. Greider's conclusions herein, which seem to center on the fact that he is not an apologist, fellow-traveler, or celebrant of the new global forces. Indeed, Mr. Greider's perspective is more sanguine, expressing concern of the many ways in which this fundamentally anti-democratic new commerce tends toward becoming a revolutionary & extraordinarily well-focused force literally power-hosing the new wealth generated by this commerce in the direction of the rich and well placed at the expense of almost everyone else. Who can argue against the observation that we increasingly face an amazing conundrum when in face of the greatest sustained period of prosperity in the last forty years many people at the lower reaches of the socioeconomic spectrum are slipping farther and farther behind, that this prosperity is not acting to level the playing field, but, on the contrary is intensifying the distances and qualitative life styles of the affluent and the poor, or with the observation that consistently the indifferent, selfish and affluent conservative Republicans, ignoring the needs and problems of a majority of others, still demand a substantial tax refund for themselves at the expense of the rest of the populace? The truth speaks for itself in the sense that the governments of the world seem either uninterested or unable to regulate, limit, or meaningfully constrain the powers, policies, or dispositions of the multi-national corporations who now produce, distribute, and control the majority of the world's commercial efforts. These corporations seem to be primarily motivated by motives much less socially responsive or oriented than they are profit-centered. Unless one actually believes in the silly, self-serving and patently ridiculous nonsense about Adam Smith's `invisible hand' of the market place, believing that somehow an unregulated and unconstrained world economy will automatically and magically manage and self-corrrect itse

How refreshing it is that in a nation with a plethora of spin doctors we find a person who writes succinctly and without hyperebola about our current economic and political reality. While he does not give us any clear direction about what to do about unfettered global capitalism, he does give us access to information generally hidden by the media moguls about what has been happening in a seemingly irrational world. He does give us anecdotes to deregulation; but, I agree that they have little probability of happening.

Greider is clearly one of the very top liberal\populist economic analysts who writes for laypeople today. Greider proves, beyond a shadow of a doubt, that economic globalization as it is practiced today is fraught with contradictions and the potential for disaster. His book is simultaneously alarming and hopeful; the prospects for implementing his common sense reform proposals seem poor in the current conservative political atmosphere, meaning that global deregulation is sure to move even quicker now, causing new and frequent financial crises. The fundamental point in his book are sound: that an unequal income distribution, reinforced by the relocation of capital to low-wage areas, exacerbates a problem of inadequate aggregate demand, making recessions more likely. Greider is quite clear in his belief that a deflation of incomes, economies, and prices is the ultimate consequence of this fundamentally unjust new world economic order. To support his thesis, he takes the reader on a tour of a variety of places all over the globe, showing how, for example, the repression of labor rights in a place as far away as Indonesia contributes to a worsening of the wage-earning potential of first-world middle income workers. Greider is one of the few writers today who offers a genuinely humane and efficient economic vision that the world would be wise to follow. He suggests worker ownership of capital as a middle road between the inequities of capitalism and the disincentives of communism. He points out how transaction taxes on international capital flows would return stability to foreign exchange markets and, more importantly, national economies. He makes clear that the rule of finance capital, as manifest in high real interest rates, is only exacerbating the fundamental capitalist problems. (inadequate demand and excess capacity) Above all else, he makes apparent that economies, like all social institutions, are fundamentally human contrivances, and thus can be favorably altered by a populace with enough imagination to envision a more prosperous, equitable, and environmentally sustainable future. Greider is way left of almost anyone in D.C. today, but he is no communist, as is apparent from a reading of this book. All progressives should read this book, (though it is somewhat complex for those without prior exposure to economics) and use Greider's policy suggestions to pressure the political class to legislate real changes in our global economy so that we can create a more stable, equitable, sustainable, and democratic global community. As a final point, it is very heartening to see someone provide such plentiful evidence for what to me is a self-evident proposition: widely-shared prosperity requires genuine political democratization, everyone and anywhere in this tightly bound global economy.