The Dark Side Of Globalization: Exploring Joseph Stiglitz's 'Globalization And Its Discontents

Deepanshu Verma, B.A., LL.B.(Hons.), National Law University, Jodhpur

ABSTRACT

This article explores the critical analysis of globalization presented by Nobel Prize-winning economist Joseph Stiglitz in his book, "Globalization and Its Discontents." Stiglitz argues that the current form of globalization has failed to deliver its promised benefits and has instead created significant economic, social, and political challenges for many countries. This article examines Stiglitz's key arguments and their implications for the dark side of globalization. Additionally, the article discusses alternative models of globalization that prioritize fair trade, social investment, and sustainable development, aiming to ensure that the benefits of globalization are shared more equitably among all members of society, rather than just the interests of wealthy countries and multinational corporations.

Keywords: globalization, international trade law, regulation, legal framework, world trade organization, free trade agreements