Globalization is a feature that has been talked about vociferously, thought about intently but has hardly existed. Perhaps this makes it among the most misunderstood term of contemporary economics. Full-bodied liberalism begins with unshackling globalism, so far this has not happened. Instead we have an uneven lopsided process of liberalization that exists in a milieu of asymmetries, economic distortions and restrictions and we would be conning ourselves wondrously if we mistook this for the process of globalizing. In a gripping narrative about misconstrued notions and paradoxes that have blinkered economic judgement for decades Piya Mahtaney reveals that recent economic history would have been every different if the potentialities of globalization to mitigate underdevelopment were not curbed. This grim reality is blatantly corroborated by the unabated persistence of the stark contrasts between unbridled affluence ensconced in miniscule enclaves and unrelenting endemic poverty. The underpinnings of this paradox cannot be ascribed merely to the incidental negligence of policy makers, rather it is an unmistakable pointer to the medley of vested interests have steered the forces of globalization to benefit the superstructure and adversely impact the majority of us. In the emerging era the most fundamental question is-can globalization result in development or not? The answer to this question will clinch economic destiny for a long time to come. In answering this crucial question Piya Mahtaney elucidates that the world cannot afford the other option of dehumanizing prosperity. Not anymore.
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