The Butterfly Defect: How Globalization Creates Systemic Risks, and what to Do about it

The Butterfly Defect: How Globalization Creates Systemic Risks, and what to Do about it
ISBN-10
0691154708
ISBN-13
9780691154701
Category
Business & Economics
Pages
296
Language
English
Published
2014
Authors
Ian Goldin, Mike Mariathasan

Description

"Globalization is the girl with the curl: when it is good, it is very, very good, but when it is bad it is awful. It generates a world at the same time both robust yet fragile--economically, financially, environmentally, and socially. "The Butterfly Defect" explains why this opportunity-cum-threat calls for a radical new approach to the setting of public policy--an approach which to be successful needs to be every bit as hyperconnected as the world it is operating in."--Andy Haldane, Bank of England ""The Butterfly Defect" is remarkable. Never has globalization, in its dramatically increased interconnectedness, been looked at so completely and clearly. For policymakers in particular, the book's analysis of the systemic fragility associated with globalized interconnectedness and the need for systemic resilience are of utmost interest."--Jean-Claude Trichet, former president of the European Central Bank and current chairman and CEO of the Group of Thirty "A vital and timely book, "The Butterfly Defect" is the first to show why systemic risk threatens us all and how it can be managed. It is a must-read for anyone concerned about our rapidly integrating peoples and businesses, and the future of our hyperconnected world."--Pascal Lamy, former director-general of the WTO "This fascinating and useful book provides interesting examples and connections across a range of fields and areas of study."--Danny Quah, London School of Economics and Political Science "This interdisciplinary and far-reaching book brings together diverse research to highlight the increase in systemic risk that accompanies the interconnectedness associated with globalization. No other book has summarized these issues for the general public, and The Butterfly Defect will benefit a broad audience."--David Colander, Middlebury College "Filled with striking examples, this ambitious book offers a new perspective on globalization--in particular, the need for policy responses that recognize the challenges presented by the globalization of many domains, from health to finance. The message about the need for coordination to overcome systemic problems will strike a chord with readers."--Diane Coyle, author of "The Soulful Science: What Economists Really Do and Why It Matters"

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