George Soros on globalization

Abstract

Whether it manifests itself as free trade, the Internet, or rescue missions for foundering economies, the fact remains that the world is linked together today in a fashion that was inconceivable during the Cold War, but not everyone is happy with globalization. Violent protests are now a regular feature of international summit meetings, and many young people have expressed their opposition to policies that they see as enriching the rich at the expense of workers, the environment, and traditional culture. At this juncture, as protests mount and the leading nations seem on the verge of a recession, George Soros has issued a report on globalization and its discontents. The title seeks to assess not merely how well the world's financial institutions have fulfilled their larger mission for prosperity, but also to point the way forward toward fixing the problems that have emerged in the globalization regime as a whole. Soros acknowledges the many ways in which protesters have a clearer view of the issues at stake than the bankers and bueaucrats do. We ignore the protesters' message, Soros warns, at our peril.