Book Calls for a Revised Global Economy Model

In the wake of corporate crises and the terrorist attacks on America, it is increasingly clear that the rules for a global economy need to be rewritten, according to a new book by Boston College Sociology Professor Charles Derber. "This is the dominant struggle of the 21st century," says Derber, author of the new book People Before Profit: The New Globalization in an Age of Terror, Big Money, and Economic Crisis (St. Martin's Press, December, 2002).

"In countries where globalization has failed, there is anger and anti-American sentiment. It is one reason people are persuaded by terrorists' messages," says Derber, a leading social critic who has spoken widely on globalization and corporate accountability. "Until now, the arrogance of power has prevented companies from doing the right thing. The US now realizes that is has a big stake in how people are living throughout the world. It is in our country's self-interest as well as our moral duty to put forth a type of globalization consistent with our own democratic ways," he adds.

The current model of globalization relies on "Popeye economics," says Derber, where investment capital is supposed to act as the "spinach" making developing countries strong and prosperous. "But it is a glaring failure," explains Derber. "Instead, we have half the world's population, some 3 billion people, living on less than 2 dollars a day, and the great majority of those people lack access to clean water or adequate nutrition. Since 1980, the rate of growth in poor countries has declined. The gap between the per capita income of those in rich and poor countries tripled between 1963 and 1999. Globalization is hardwired against poor countries and the poor in rich countries."

In People Before Profit, Derber writes not only about why globalization has gone wrong, but also how to fix it. He writes that "globalization has the potential to be an authentic agent of democracy, social justice and economic stability."

Among the author's recommendations for a new global democracy are:* Radically reorganize the World Trade Organization, the International Monetary Fund, and the World Bank, which are writing the script for the world economy. "We need a 'bill of rights' that includes a defense of property and protection of workers and natural resources."

* Revamp world policy. "We need to strengthen the United Nations."* Restructure the governance of business so there is more corporate accountability. "Let's prevent future Enrons."* Democratize countries. "Free elections are not a guarantee of democracy."

People Before Profit is ultimately a hopeful and optimistic book, according to Derber. He says, "We are at a constitutional moment in the creation of a new global democracy, one that is humane and equitable. We need deep changes at the global, national and local levels, all involving the reconstruction of vibrant popular democracy to counter corporate and financial corruption and power. We need to reconstruct globalization in a way that is more democratic and where human rights are guaranteed."

People Before Profit will be published in China, Germany and England as well.