Globalization or Understanding the Process of Economic Change

Globalization: Culture and Education in the New Millennium

Author: Marcelo M Suarez Orozco

Globalization defines our era. While it has created a great deal of debate in economic, policy, and grassroots circles, many aspects of the phenomenon remain virtual terra incognita. Education is at the heart of this continent of the unknown. This pathbreaking book examines how globalization and large-scale immigration are affecting children and youth, both in and out of schools. Taking into consideration broad historical, cultural, technological, and demographic changes, the contributors--all leading social scientists in their fields--suggest that these global transformations will require youth to develop new skills, sensibilities, and habits of mind that are far ahead of what most educational systems can now deliver.
Drawing from comparative and interdisciplinary materials, the authors examine the complex psychological, sociocultural, and historical implications of globalization for children and youth growing up today. The book explores why new and broader global visions are needed to educate children and youth to be informed, engaged, and critical citizens in the new millennium.

Books about economics: Global Corporate Finance or Product Planning Essentials

Understanding the Process of Economic Change

Author: Douglas C North

In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories.

North argues that economic change depends largely on "adaptive efficiency," a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances.

Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essentialguide to improving the performance of developing countries.