Homecoming: The Path to Prosperity in a Post-Global World

Rana Foroohar

A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization--by one of the preeminent economic journalists writing today "This invaluable book is as bold in its ambitions as it is readable. "--Ian Bremmer, New York Times bestselling author of The Power of Crisis ONE OF THE BEST BOOKS OF THE YEAR: Kirkus Reviews At the dawn of the twenty-first century, Thomas Friedman, in The World Is Flat, declared globalization the new economic order.

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Book Information

Publisher: Crown Publishing Group (NY)
Publish Date: 10/18/2022
Pages: 400
ISBN-13: 9780593240533
ISBN-10: 0593240537
Language: English

Full Description

A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization--by one of the preeminent economic journalists writing today "This invaluable book is as bold in its ambitions as it is readable."--Ian Bremmer, New York Times bestselling author of The Power of Crisis ONE OF THE BEST BOOKS OF THE YEAR: Kirkus Reviews At the dawn of the twenty-first century, Thomas Friedman, in The World Is Flat, declared globalization the new economic order. But the reign of globalization as we've known it is over, argues Financial Times columnist and CNN analyst Rana Foroohar, and the rise of local, regional, and homegrown business is now at hand. With bare supermarket shelves and the shortage of PPE supplies, the pandemic brought the fragility of global trade and supply chains into stark relief. The tragic war in Ukraine and the political and economic chaos that followed have further underlined the vulnerabilities of globalization. The world, it turns out, isn't flat--in fact, it's quite bumpy. This fragmentation has been coming for decades, observes Foroohar. Our neoliberal economic philosophy of prioritizing efficiency over resilience and profits over local prosperity has produced massive inequality, persistent economic insecurity, and distrust in our institutions. This philosophy, which underpinned the last half century of globalization, has run its course. Place-based economics and a wave of technological innovations now make it possible to keep operations, investment, and wealth closer to home, wherever that may be. With the pendulum of history swinging back, Homecoming explores both the challenges and the possibilities of this new era, and how it can usher in a more equitable and prosperous future.

About the author

Rana Foroohar was recently named global business columnist and Associate Editor for the Financial Times. She is also CNN's global economic analyst. Prior to joining the FT and CNN, Foroohar was for six years the assistant managing editor in charge of business and economics at TIME, as well as the magazine's economic columnist. She also spent 13 years at Newsweek, as an economic and foreign affairs editor and a foreign correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund's Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Johns Hopkins School of International Affairs and the East West Center. She is a life member of the Council on Foreign Relations. Foroohar graduated in 1992 from Barnard College, Columbia University. She lives in Brooklyn with her husband, the writer John Sedgwick, and her two children, Darya and Alex.

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