The Coming Crisis for First-World Nations
By: Richard C. Longworth, Foreword by Adele Simmons
Contemporary Books 1998
Review by: Lydia Morris Brown
The world is a fundamentally changed place in which the old Cold War paradigms have disappeared. As the world moves beyond interdependency to the wholly new phenomenon of globalization, these changes are most evident in the economic arena, and they call for societies to find new, collaborative ways to manage their common socio-economic concerns.Global Squeeze reveals how the globalization of money, trade, and investment is affecting not only the Third World but also the First World in unforeseen ways. It provides an in-depth analysis of the ways in which the U.S., Western Europe, and Japan view this force and how they plan to seize opportunities while minimizing threats. Finally, it offers solutions that encourage public and private policy makers to develop interdisciplinary approaches to problem solving that will result in improved contributions by economists to social policy.