Winners and Losers in Globalization

Guillermo de la Dehesa is the Chairman of the Centre for Economic Policy Research in London. He spent twenty years in various Spanish governmental positions from the late 1960s through the late 1980s. Since leaving the public sector he has held a number of Chairman and Chief Executive positions in the private sector; he is currently Vice Chairman of Goldman Sachs Europe, Independent Director of the Santander Banking Group and Aviva PLC, among others. He is a member of the "Group of Thirty", a nonprofit, independent consultative group which counts luminaries such as Mervyn King (Governor at the Bank of England), Lawrence Summers (President of Harvard), Paul Krugman and Stanley Fischer among its ranks.

• Foreword viPaul KrugmanIntroduction viii1 What Is Globalization? 12 Globalization and Economic Growth 103 Globalization, Real Convergence, and Income Distribution 284 Globalization, Employment, and Labor Markets 505 Globalization and the Size of Firms: Multinationals 726 Globalization, State, and Government 867 Globalization and Economic Policy 988 Globalization and Exchange Rates 1099 Globalization and Financial Crises 11910 Globalization and Culture 16611 Who Wins and Who Loses in Globalization? 177Bibliography 190Index 218

"I don’t expect this book to settle the debates over globalization: there is too much real uncertainty about the issue, and anyway there are too many people firmly committed to their views to be shaken by any argument or evidence. But perhaps Mr. De la Dehesa’s excellent book can lower the temperature and give us all a better sense of what this new global economy is really all about." Paul Krugman, from the Foreword to Winners and Losers in Globalization "Guillermo Dehesa has written a splendid book that provides fresh and important perspectives. Read and enjoy.” Jagdish Bhagwati, author of In Defense of Globalization “Globalization is a subject that stirs uncommonly strong emotions [and] those who try to make sense of it are often challenged on their credentials. But once in a while you get someone like Guillermo de la Dehesa – that is, someone whose knowledge and experience crosses the usual boundaries, who cannot be impeached on the usual grounds. In other words, he is someone whose motives you can trust, and whose breadth of knowledge and experience are rare in this or any other area.” Paul Krugman, from the Foreword to Winners and Losers in Globalization