Synopses & Reviews
Since the financial crisis of 2008, many of us have had to reexamine our beliefs about markets and globalization. How integrated should economies really be? How much regulation is right?
Many people fuse these two dimensions of choice into one, either favoring both globalization and deregulationor opposing both of them.
It doesnt have to be that way.
In World 3.0, award-winning author and economist Pankaj Ghemawat reveals the folly in both of these responses. He calls for a third worldviewone in which both regulation and cross-border integration coexist and complement one another.
Ghemawat starts by exposing common assumptions about globalization to hard data, proving that the world is not nearly as globalized as we think. And he explains why the potential gains from further integration are much larger than even pro globalizers tend to believe.
He then tackles market failures and fearsjob losses, environmental degradation, macroeconomic volatility, and trade and capital imbalancesthat opponents of globalization often invoke. Drawing on compelling data, he shows that increased globalization can actually alleviate some of these problems.
Finally, Ghemawat describes how a wide range of playersbusinesses, policy makers, citizens, mediacan help open up flows of ideas, people, and goods across borders, but in ways that maximize the benefits and minimize the potential side effects.
World 3.0 dispels powerfully entrenchedbut incorrectassumptions about globalization. Provocative and bold, this new book explains how people around the world can secure their collective prosperity through new approaches to cross-border integration. Ghemawats thinking will surprise and move youno matter where you stand on globalization.
World 3.0 reveals how we're not nearly as globalized as we think we are, and how people around the world can secure their collective prosperity through new approaches to cross-border integration. Provocative and bold, this new book will surprise and move you, no matter where you stand on globalization.
Review
it should be included on the reading list of anyone interested in the subject.”
Publishers Weekly World 3.0's cautious tone is refreshing
” USA Today
a very smart book” - TIME
At last, some sense on globalization...deserves a wide audience...” - The Economist
An excellent new book
thoughtful and persuasive
[ Ghemawats] ambition is commendable and his argument compelling.” International Affairs
a unique look at globalisation
” - Business Today
The book is a solid read, backed by hard data and supplemented with easily understood illustrations.” Business Today Egypt
In World 3.0, Pankaj Ghemawat provides a fresh look at cross-border integration and its implications. He demonstrates why integration and regulation must be seen as complementary. And he offers great recommendations that should inspire all stakeholders in times of major global challenges. A must-read.”
--Pascal Lamy, Director-General of the World Trade Organization (WTO).
We are currently stuck in World 2.0, a world in which the further impact of global integration is seen as limited. Professor Ghemawat artfully proposes how we can move to World 3.0, in which openness leads to wider technological, cultural, and social benefits. The transfer of knowledgethrough people, trade, or investmentscould have a significant impact on growth. This is an interesting and timely argument that deserves careful consideration.”
--Dr. Supachai Panitchpakdi, Secretary-General of the UN Conference on Trade and Development (UNCTAD)
World 3.0 is a comprehensive framework for thinking about globalization, market failures, and market integration. Ghemawat sets a visionary but pragmatic agenda for senior managers, businesses, and governments. His views about managing capital reversals and imbalances while exploiting the large untapped potential of globalization are particularly relevant.”
--Michel Camdessus, former Managing Director, International Monetary Fund
This book deserves to be read widely. It establishesthrough the type of clinical analysis on which Ghemawat has built his reputation as a global strategistthat the current world we live in is, at best, semiglobalized, and then proceeds to spell out the implications of such a world for individuals, businesses, and governments.”
--Ratan Tata, Chairman, Tata Group
This is the right book at the right time. After the most severe economic crisis since the Great Depression, many leaders are looking for ways to make the global economy more stable and sustainable. World 3.0 offers well-reasoned strategies for achieving that.”
-- Peter Löscher, President and Chief Executive Officer Siemens AG
Pankaj Ghemawat has provided an impressive and comprehensive analysis of the worlds situation in times of globalization and strong economic and social imbalances. His book contributes to fostering the mind-set that will enable us to reshape this world in a sustainable way. If we believe in World 3.0, we will be able to build it.”
--Mohammed Yunus, founder of Grameen Bank and recipient of the Nobel Prize for Peace
Synopsis
The world looks far different today than it did before the global financial crisis struck. Reeling from the most brutal impacts of the recession, governments, economies, and societies everywhere are retrenching and pushing hard for increased protectionism. That's understandable, but it's also dangerous, maintains global economy expert Pankaj Ghemawat in World 3.0. Left unchecked, heightened protectionism could prevent peoples around the world from achieving the true gains afforded by cross-border openness.
Ghemawat paints a disturbing picture of what could happen--to household income, availability of goods and services, and other quality-of-life metrics--should globalization continue to reverse direction. He then describes how a wide range of players' private businesses, policy makers, citizens, the press' could help open flows of ideas, people, and goods across borders, but in ways that maximize economic benefits for all.
World 3.0 reveals how we're not nearly as globalized as we think we are, and how people around the world can secure their collective prosperity through new approaches to cross-border integration. Provocative and bold, this new book will surprise and move you, no matter where you stand on globalization.
About the Author
Pankaj Ghemawat is the Anselmo Rubiralta Professor of Global Strategy at IESE Business School, in Barcelona and served for more than twenty years on the faculty of the Harvard Business School, where in 1991, he became the youngest person in the schools history to be appointed a full professor. Ghemawat has been described by Michael Porter as one of those rare individuals who combines world-class scholarship with a deep knowledge of business practice.” He is also the youngest guru” included in the guide to the greatest management thinkers of all time published in 2008 by The Economist.