World 3.0 Global Prosperity and How to Achieve It
by Pankaj Ghemawat, Stephani Finks
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 deregulation-or opposing both of them.
It doesn't 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 worldview-one 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 proglobalizers tend to believe.
He then tackles market failures and fears-job losses, environmental degradation, macroeconomic volatility, and trade and capital imbalances-that 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 players-businesses, policy makers, citizens, media-can 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 entrenched-but incorrect-assumptions 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. Ghemawat's thinking will surprise and move you-no matter where you stand on globalization.
Pankaj Ghemawat is the Anselmo Rubiralta Professor of Global Strategy at IESE Business School. Between 1983 and 2008, he served on the faculty at Harvard Business School where, in 1991, he became the youngest person in the school's history to be appointed a full professor. Ghemawat was also the youngest "guru" included in the Economist's guide to the greatest management thinkers of all time, published in 2008.
Ghemawat's previous books include Commitment, Games Businesses Play, Strategy and the Business Landscape, and the award-winning Redefining Global Strategy, which the New York Times called "a nicely revised picture of globalization."He is also the author of more than one hundred research articles and case studies, ranks as one of the world's bestselling authors of teaching cases, and has been elected a fellow of the Academy of International Business and of the Strategic Management Society. Other recent honors include the McKinsey Award for the best article published in Harvard Business Review and the Irwin Award for the Educator of the Year from the Business Policy and Strategy division of the Academy of Management.
Ghemawat works with companies, governments, multilateral institutions, and business schools on international opportunities and challenges. He consults on strategy and leadership development around the world and is a regular speaker on globalization-related topics. He also served on the taskforce appointed by the AACSB, the U.S.-based accreditation body for business schools, on the globalization of management education, and authored the report's recommendations concerning what to teach about globalization, and how.
The Law
Part I : THE POSSIBILITIES :
1. Colliding Worldviews
2. Semiglobalization Today and Tomorrow
3. Borders, Differences, and the Law of Distance
4. Adding Value by Opening Up
Part II : SEVEN POSSIBLE PROBLEMS :
5. Global Concentration
6. Global Externalities
7. Global Risks
8. Global Imbalances
9. Global Exploitation
10. Global Oppression
11. Global Homogenization
Part III : THE CHOICES :
12. Toward World 3.0
13. Countries in World 3.0
14. Business in World 3.0
15. Us and Them in World 3.0
About the Author