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Rating: 
Summary: A Labor-Based View of the Pain of Globalization
Review: Every shift in economic systems has had a high cost in human misery. The enclosures in the British isles led many people to emigrate or to suffer long impoverishment. The industrial revolution killed, injured, and downgraded the quality of life for many in the beginning. The global business development of today is creating similar pressures on people who provide unskilled labor around the world. Essentially, there is a surplus of people without skills and a shortage of those with skills. As work shifts to lower and lower paid countries for unskilled labor, pay and employment fall in the better paid countries for this type of work. Professor Kapstein asks an important question, "What are the ways that the transition to a global economy can be made the most constructive?" I rate the book at five stars for having raised that question. I have not seen it raised elsewhere. He looks at the history of many countries to point out that economic dislocations when they have become too extreme in the past preceded political upheavals that had negative consequences for many (such as World War I and the rise of fascism and communism). He also points out that moving towards democratic capitalism does not automatically improve things, citing Russia as an example. His view is that companies and countries need to do more than they do today to create greater world markets and to develop them thoroughly. "This book has been written, then, in an effort to defend globalization from its enemies, while saving it from those of its adherents who fail to recognize the damage it is bringing to working people in its train." On the government side, he sees the need for a legal system and sanctity of property (something almost any 19th century English person would have applauded), education, and support for basic health (such as clean water and sanitation). He also points out that companies can learn from the best practices of establishing a global workforce and a global market to create more good in the process. Hardly anyone would argue with these points. What will offend some is that Professor Kapstein is obviously trying to get our attention by waving the joint flags of human misery and the risk of social upheaval in a way that academicians often do not do. My assumption is that he is aware that Americans will not realize how much more serious the potential for social unrest is viewed in many other countries, and wants to shake us out of our lethargy. In the process, he will annoy some people. My own research shows that enterprises that do the most to serve all of those they affect do prosper the most, so he did miss the opportunity to make a capitalistic argument here. I personally didn't mind his approach since it was very blatant, rather than a hidden bias. I think that his general perspective is well taken from my perspective also as someone who studied revolutions in college. In fact, I enjoyed his take on the historical comparisons to the industrial revolution. Here's a summary of his conclusion: "The United States must do more than take the market to the people; it must bring the people to the market. And in order to do this, it will have to play a leadership role in investing in those necessities of life that will enable working people everywhere to seize the opportunities that democratic capitalism offers." I think most people will agree after reading this book.
Rating: 
Summary: Lacking a wealth of insight
Review: If you want to get a better understanding of workers and the economy in the contemporary world, there must be a better book out there than Kapstein's. "Sharing the Wealth" seems to have been put together in a hurry, and consists almost entirely of paraphrased quotations from other writers. I have no idea how Kapstein got John J. Sweeney to recommend the book on the back cover; in fact, I have no idea how Kapstein got this book published, since he seems to have put so little effort into it. My recommendation to the left-leaning, economically-untrained reader (like me) would be to check out Dani Rodrik's "Has Globalization Gone Too Far?", a much more subtle, thorough and concise look at the way international trade is affecting the distribution of wealth in the world today.
Rating:
Summary: Lacking a wealth of insight
Review: If you want to get a better understanding of workers and the economy in the contemporary world, there must be a better book out there than Kapstein's. "Sharing the Wealth" seems to have been put together in a hurry, and consists almost entirely of paraphrased quotations from other writers. I have no idea how Kapstein got John J. Sweeney to recommend the book on the back cover; in fact, I have no idea how Kapstein got this book published, since he seems to have put so little effort into it. My recommendation to the left-leaning, economically-untrained reader (like me) would be to check out Dani Rodrik's "Has Globalization Gone Too Far?", a much more subtle, thorough and concise look at the way international trade is affecting the distribution of wealth in the world today.
Rating:
Summary: what happens under globilizatoin
Review: Sharing the wealth is good for those poeple wanting to better understand globilization in fearly concise and easy-to read book. The book talks about what policies countries should try to be emphasing through trade policies and the effects of unions and government protections on the economy. It moves a way from a lot of the theoritical evidence like comparative advantage and focuses on actual data which can be some what different then what economic theory says.
Rating: 
Summary: Refreshing perspective, but a bit polemical
Review: This book is a thoughtful and welcome response to the presentation of economic ideas and policy prescriptions written solely from the perspective of multinational corporations and global capital that monopolizes our newspapers and financial publications. Kapstein's primary thesis is that the widening income gap both in the United States and globally, is not only immoral, but threatens international security and continued economic growth. In his words, "if we believe that poverty, inequality, and want lead to disruption and even war, we may wish to adopt policies to limit or even eradicate these social `diseases.' However, if we believe only that poverty and want are morally bad, but not politically threatening, we may instead favor individual charity rather than public policy as the preferred response." His major defense of the argument that inequality is destabilizing, is a historical argument based primarily on the judgement of policy makers at the end of World War II, though he also refers to other historical examples. His prescription is to control the excesses of capitalism by transferring more of capitalism's profits to workers, and to institutions like education and public health, which promote social well being. The tone of the book alternates between being scholarly and being polemic. Each of the 6 chapters averages about 50 footnotes. Although his thesis argues that inequality is a politically and economically shortsighted, he spends considerable time developing the ethical argument using John Rawl's theory of justice, that equity is morally preferable. He engages in economic reasoning, but his language, and at times, his tone, is polemical. "Surely the right move to take . . . " "But these argument are absurd for several reasons." "The fact that one in five American children still lives in poverty is nothing less than a national scandal." Thus, while a reader, who finds Kapstein's philosophical perspective appealing, will enjoy reading the book, and find the arguments persuasive, a more skeptical reader would appreciate a more detailed defense of the core economic arguments. Finally, it is ironic, that this book which calls for a rethinking the way we value labor, that repeatedly stresses the need for affordable provisions, and notes the need for underpaid workers to unite and advocate this new perspective is available only in hardback and priced at $24.99 for a short 184 pages of narrative. Overall, I'm glad I bought and read the book. It was certainly worth the Amazon price to me. Kapstein's critique of many oft-repeated economic myths has given me a new framework to think through and question economic reasoning and policy prescription. Let us hope that the publisher decides to share the wealth of these important ideas with a broader audience by offering the book in a paperback edition.
Rating:
Summary: Backpedaling globalization
Review: Those seeing "globalization" as the promising "wave of the future" for a world economy
should give this book their close and undivided attention. Contrary to the claims of
globalization advocates, the "unending prosperity of a world market" may prove a hollow
promise. Kapstein is no anti-globalization crusader, but he sees the fruits of the new economy
as tainted, the structure threatened with built-in decay. The inequitable distribution of global
wealth is widening. With the rich getting richer in this new environment, governments, who
can implement controls to distribute the profits, are ignoring the populace at large. Policy
making is being driven by controllers of mobile capital. Workers' wages and conditions are
being driven steadily downward as nations strive to entice those investments across their
borders. Kapstein doesn't see worker uprisings or international strife resulting from these
conditions. He sees the potential collapse of the system with little or nothing foreseeable to
replace it.
Nearly half the book is taken up with a summary history of centuries of economic thinking.
From Adam Smith through the formation of the British Empire, a form of global economy was
building. Governments adhered to the "gold standard" a financial policy inherently
restrictive to labour. Destroyed by World War I, the global economy based on the gold
standard struggled for existence until the next conflict set the stage for emergence in a new
form. Kapstein contends the 1944 Bretton Woods Conference laid the foundation for today's
global market economy. Spurred by the Marshall Plan's stimulus from recovery there
emerged a world trading programme. The "German and Japanese miracles" resulted along
with America's economic dominance. A discordant note, not perceived at the time was
Britain's insistence on a full employment element in the planning. Only the United States
rejected this ideal, but the full impact of this new form of isolationism hasn't been perceived
until now. Labour isn't described as particularly suppressed in this book, but workers have suffered
from poorly considered or indifferent policies. The world conflicts of the 20th Century nearly
led to more equitable attitudes toward labour by the victorious powers, but progress was
blocked by the single biggest player in the game. The U.S. became the chief obstructer of
achieving "full employment" policies during the era of recovery from World War II. With the
U.S. being the biggest investor in the new world economy, it set the standards other nations
had to follow in order to stay competitive. The result is a working environment in which the
worker poverty level is set at one dollar per day. And the poorest people are workers. Kapstein asserts globalization is a political, not economic phenomenon. The old saw that
government should "stay out of business" is clearly false since it is government policies that
have allowed or encouraged the growth of a global economy. Governments, therefore, have
the responsibility to ensure workers gain benefits more in line with their contribution. Public
policies should ensure social welfare is an essential part of the new economy. This can only
be accomplished, of course, if governments are driven by their constituents to action. That
means you, the readers of this book. Kapstein's solutions are neither drastic nor terribly innovative. They simply haven't been
implemented on the scale necessary to grant workers a fair share of globalization's benefits.
He urges greater focus on "socially responsible firms." In short, ethical investment and
consumption. More watchdog groups reviewing government and corporation policy
development and implementation should be formed - on the lines of current NGOs. Worker
training should be improved or implemented. Military training programmes provide a good
model for technical training techniques. Protectionism and immigration policies are overly
rigid and need to be more flexible to meet changing needs and conditions. Policy-making
should focus away from purely national outlook and adopt a truly international framework.
For example, trade liberalization must be accompanied by proper labour standards with
adequate compensation for workers. These are not pipe dreams, but viable proposals for any
governments to consider. The starting point for putting such policies in place is you.
Rating:
Summary: Backpedaling globalization
Review: Those seeing "globalization" as the promising "wave of the future" for a world economy
should give this book their close and undivided attention. Contrary to the claims of
globalization advocates, the "unending prosperity of a world market" may prove a hollow
promise. Kapstein is no anti-globalization crusader, but he sees the fruits of the new economy
as tainted, the structure threatened with built-in decay. The inequitable distribution of global
wealth is widening. With the rich getting richer in this new environment, governments, who
can implement controls to distribute the profits, are ignoring the populace at large. Policy
making is being driven by controllers of mobile capital. Workers' wages and conditions are
being driven steadily downward as nations strive to entice those investments across their
borders. Kapstein doesn't see worker uprisings or international strife resulting from these
conditions. He sees the potential collapse of the system with little or nothing foreseeable to
replace it. Nearly half the book is taken up with a summary history of centuries of economic thinking.
From Adam Smith through the formation of the British Empire, a form of global economy was
building. Governments adhered to the "gold standard" a financial policy inherently
restrictive to labour. Destroyed by World War I, the global economy based on the gold
standard struggled for existence until the next conflict set the stage for emergence in a new
form. Kapstein contends the 1944 Bretton Woods Conference laid the foundation for today's
global market economy. Spurred by the Marshall Plan's stimulus from recovery there
emerged a world trading programme. The "German and Japanese miracles" resulted along
with America's economic dominance. A discordant note, not perceived at the time was
Britain's insistence on a full employment element in the planning. Only the United States
rejected this ideal, but the full impact of this new form of isolationism hasn't been perceived
until now. Labour isn't described as particularly suppressed in this book, but workers have suffered
from poorly considered or indifferent policies. The world conflicts of the 20th Century nearly
led to more equitable attitudes toward labour by the victorious powers, but progress was
blocked by the single biggest player in the game. The U.S. became the chief obstructer of
achieving "full employment" policies during the era of recovery from World War II. With the
U.S. being the biggest investor in the new world economy, it set the standards other nations
had to follow in order to stay competitive. The result is a working environment in which the
worker poverty level is set at one dollar per day. And the poorest people are workers. Kapstein asserts globalization is a political, not economic phenomenon. The old saw that
government should "stay out of business" is clearly false since it is government policies that
have allowed or encouraged the growth of a global economy. Governments, therefore, have
the responsibility to ensure workers gain benefits more in line with their contribution. Public
policies should ensure social welfare is an essential part of the new economy. This can only
be accomplished, of course, if governments are driven by their constituents to action. That
means you, the readers of this book. Kapstein's solutions are neither drastic nor terribly innovative. They simply haven't been
implemented on the scale necessary to grant workers a fair share of globalization's benefits.
He urges greater focus on "socially responsible firms." In short, ethical investment and
consumption. More watchdog groups reviewing government and corporation policy
development and implementation should be formed - on the lines of current NGOs. Worker
training should be improved or implemented. Military training programmes provide a good
model for technical training techniques. Protectionism and immigration policies are overly
rigid and need to be more flexible to meet changing needs and conditions. Policy-making
should focus away from purely national outlook and adopt a truly international framework.
For example, trade liberalization must be accompanied by proper labour standards with
adequate compensation for workers. These are not pipe dreams, but viable proposals for any
governments to consider. The starting point for putting such policies in place is you.
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