100 books like Deglobalization

Though set less than a century ago, the world of Steinbeck’s novel is so very different from our own. This masterpiece follows the Joad family as they head west to California, escaping the hardship and poverty of the Oklahoma Dust Bowl.

Depression-era America is described with such detail and emotion that the reader feels almost like a companion of the Joads, each of whom are rendered with precision and depth. In other hands, this might have been a grim, gloomy tale, but Steinback evokes themes of loyalty, kindness, and pride with peerless power and skill.  

We’ve been told ‘the market knows best’ for a long time, and we’re now seeing the economic, political, and environmental breakdown which comes from arranging society around the market’s diktat. Worse, we’ve been here before.

In Late Victorian Holocausts, the late historian Mike Davis documents the most shocking historical consequences of organising societies to please the market. In the heyday of the British Empire, London’s obsession with ‘leaving it to the market’ extended to letting profit dictate who should eat and who should starve.

After the British stripped away traditional social networks on which the majority could depend in times of crisis, people found that ‘the market’ demanded food be shipped from where it was needed, to where there was money. The loss of millions of lives to famine was not the result of ‘backwardness’ and ignorance, but of ‘modernity’ and the market. 

In the late 1990s, a new type of economy was being born, one dominated by massive corporations, whose logos were increasingly ubiquitous, and who were driving a culture of consumerism among young people.

Klein traced this corporate dominance to a new form of capitalism in which corporations were becoming ever less interested in the stuff they actually made, be it trainers, takeaway coffee, or jeans. Rather, they were selling a brand, and replacing our very notion of ourselves as citizens living in a democracy with one of consumers shopping in a marketplace.

Klein’s book looks at how companies like Nike and Starbucks transformed society – and what people were doing to challenge their dominance.    

It’s impossible to understand the modern economy without grasping the importance of debt, and no one understands debt better than Ann Pettifor.

Pettifor spent more than a decade campaigning to cancel the unjust and unpayable debt of African, Asian, and Latin American countries – debt that was causing mass impoverishment and robbing people of their rights and livelihoods. Then she turned her attention to the damage that debt was doing in the West, predicting the financial crash of 2007-8.

For Pettifor, the problem started in the early 1970s, when the financial system was ‘freed’ by politicians from the constraints which had forced it to behave in a more reasonable way up to that point. Pettifor argues that we won’t be able to deal with our economic problems until we constrain our banks once more.          

The book, written in a very accessible manner, helps to understand the constraints the poor face and how they make decisions on matters such as education, healthcare, savings, entrepreneurship, and a variety of other issues.

Duflo and Banerjee, recipients of the Nobel Prize in Economics, advocate for the use of randomized controlled trials and, most importantly, to actually listen to what the poor have to say.

The book won the 2011 Financial Times and Goldman Sachs Business Book of the Year Award. To me, it was an eye-opener and a refreshing way to rethink poverty reduction.

I enjoy myth-busting.

A favorite message from the economic profession is that free trade is good for everyone, and that those who do not agree are either misguided or defending vested interests of their own. In this book, Williamson shows that this view is false.

The welfare gap between the West and the rest of the world developed during the 19th and 20th centuries in large part because of trade-induced division of labor that led to de-industrialization, increased inequality, and volatile revenues in the losing countries—factors that all contributed to retarding economic growth and social development in countries that are now poor.

More recently, the free movement of capital has had similarly negative effects on developing and emerging economies, a fact that is now recognized also in organizations such as the IMF.

I "discovered" Hancock's book by coincidence in the summer of 2000, when I stayed in Oxford.

While working on my book I met a scholar who recommended me the book when he learned about my study. He thought that Hancock's book could offer me some exciting insights. Reading the book was overwhelming for me, as I found out that my "Nepali experience" in the context of a women's development project was not exceptional.

I realized then that my critical analysis gained further evidence, through elaborating on Hancock's numerous examples from other places where the World Bank and Western Capitalist agencies were involved.     

I strongly recommend this book because it is clearly written, explains the methods of estimation, and provides an excellent overview of the extensive worldwide research on the returns to education based on earnings.

It certainly influenced me. It had a massive impact on World Bank lending policies in support of economic development in developing countries. It replaced the kinds of Bank physical capital investment policies such as those supporting dam construction, projects that included educating only for a few people on how to operate dams, with education sector-wide loans that support primary and junior secondary education of the labor force.

Some of these dams later washed out, and forests were destroyed in support of development. The book shows how the returns to investment in primary and secondary education are higher in developing countries where the labor force is often nearly illiterate than they are to investing in other higher levels… show more.

When people talk about human rights and sovereign debt, it is usually when the government cannot pay its obligations and squeezes its citizens in the effort.

Who will speak up to protect those people? Thirty authors (including your correspondent) aim to do just that.

While one essay claims that creditor (property) rights trump human rights in international law, most of the authors discuss how to bring human rights into the legal landscape governing different types of foreign loans or investment, or how to protect the rights to food, health, education and more when the International Monetary Fund and creditors demand austerity.

Other essays propose international legal reforms (including arbitral, soft law, and “anti-vulture” litigation). Scholars, activists, or just the curious will want to consult this important and thoroughly accessible volume.

This book is like the other side of the coin to Sex and World Peace.

In that book, the authors articulate the connection between gender inequality and global suffering through statistics, whereas Half the Sky describes it in individual stories. It is moving to hear about these women’s suffering, but it is also uplifting to hear how they have overcome.

This book is an excellent resource for understanding how gender equality leads to increasing economic growth while reducing global poverty and inequality. It is an important tool in any ordinary hero’s toolkit.