Review by Choice Review
This is the story of how the world got rich and how it is likely to get very much richer as a result of rapid capital formation, trade and specialization, and technological change. This progrowth polemic argues in about the same tone as the surfeit of polemics that have appeared from the antigrowth, antiglobalization side. Edmunds, an academic (finance, Babson College) and consultant, discusses both the real sector and the financial sector of the global economy, making the point that both have become highly integrated, with substantial mutuality of benefits for all concerned--including many of those initially left behind in some of the developing countries. This suggests that the classic prescriptions of open markets for goods and services as well as productive factors, trade, and financial flows are prerequisites for markets to work their magic and ultimately push prosperity down to the most disadvantaged groups. Very well written with up-to-date tables and charts, this volume is recommended for public libraries and undergraduate and professional collections. I. Walter New York University
Copyright American Library Association, used with permission.
Review by Choice Review
