America and the New Global Economy

by Timothy Taylor

36 lectures 31 minutes each 1 The World Economy since 1950 2 The U.S. in the World Economy—1960 to 1995 3 The U.S. Economy Resurgent? 4 Europe—From Catch-Up to Jobless Growth 5 The Single European Market 6 The Rise of the Euro 7 The Economy of the Soviet Union 8 Transitions from Communism to Markets 9 Japan's Economic Miracle 10 When Japan's Bubble Economy Burst 11 Government versus Market in East Asia 12 East Asia's Tigers—Restore the Roar? 13 China's Gradualist Economic Reforms 14 China's Challenges for Continued Growth 15 India and the License Raj 16 India's Turn toward Market Economics 17 Inherited Institutions in the Middle East 18 The Curse of Oil Wealth in the Middle East 19 Africa's Geography and History 20 Time for Optimism on Africa? 21 Latin America and Import Substitution 22 Markets or Populism in Latin America? 23 Globalization in Goods and Services 24 Globalization of Capital Flows 25 The Foreign Exchange Market 26 Migration—Senders and Recipients 27 Global Population Growth 28 World Poverty—Growth or Redistribution? 29 Global Food Markets—The Supply-Demand Race 30 An Urbanizing World 31 Women in the Global Economy 32 Improving Governance, Fighting Corruption 33 Foreign Aid—Promises and Limits 34 The Multilaterals—World Bank, IMF, WTO 35 The Economics of Global Climate Change 36 Globalization and Convergence

Genres: Economics, Politics, History, Audiobook, Nonfiction, Finance

Audio CD

Published January 1, 2008

Reviews

[Charlene]

Nice lecture series that goes in depth about the history of economies around the world and how they connect with one another. It moved onto discussion of the effects of globalization. Some of those discussions highlight the various economics of different countries and the resulting conditions in those countries-- living conditions, poverty levels, population, food availability, corruption, gender equality, laws, pollution, outsourcing and so on. The lecture ended with an all too short discussion about foreign aid. While I like the suggestions he made for reshaping America's foreign aid policy, I wish the foreign aid lectures had been multiple lectures that did a better job of explaining the different problems the current structure of aid presents-- e.g. when countries give aid to rulers who steal the aid, even if it means they steal money right out babies mouths, by taking their baby formula. I also felt that the discussion of the World Bank should have been longer. I know this series was pretty long as it was, but corruption uncovered by the World Bank is really a point worth driving home, e.g. World Bank gives a significant amount of money to a builder in a developing nation, but upon inspection there is barely a hole in the ground after a year of funding, or the violent business practices that threaten people's lives who compete for the bid from the World Bank. These are important thing that I would like to have seen be more of a focus in tis series. However, as I mentioned, they could not include everything. As it was, this lecture took me months to finish because of its length. I recommend it, but I have to say, I really enjoyed Donald Harreld's Economic History of The World Since 1400 more and it was hard not to compare this series to that. Even though they had different aims, it was hard not to be slightly disappointed with this series at times after listening to Harreld's series. Disclaimer, I am a sucker for all things that recount the building of civilization. Harreld's did just that, while this series focused on the history more as a supporting force for where we are now. So, it might simply be a personal bias.

[Benjamin]

Some of this is very good, but Taylor's prejudice towards existing conventional wisdom -- especially about growth in Africa and east Asia, and the cost of Climate Change -- brings this 2006 course in conflict with 2020 realities in a way that doesn't reflect well on him. Taylor's other GC courses are really quite good, but many sections of this course are very opinion heavy. Wrong predictions with careful data and modelling can be really helpful. Wrong gut-feeling predictions are less than worthless.

[Emily]

I don't usually write reviews for books I don't finish, but this professor said some of the most ignorant, closed-minded, and bigoted things that after half way through I just couldn't take it anymore. I've listened to dozens of Teaching Company lecture series and am a big fan. I think they should be ashamed to offer this as one of their products.

It started in the Europe section early on. I get that this professor is an economist and therefore obviously very pro-capitalist, but the way he presented Europe's regulations as incredibly stifling to industry for seemingly no reason at all was irresponsible. There was no even-handed presentation of why, perhaps, they might choose to do so, just his opinion about it. It was incredibly biased. The reason Europe has such regulations is because they value quality of life and protecting workers from abuse more than a company's bottom line or their GDP, a shocking concept to many Americans, I know, but Europe's doing just fine with it.

Then we get to the Middle East and he argues that ISLAM is responsible for the Middle East's poor economy. Not a history of war or colonization or subjugation or interference from his beloved United States. No. It's all Islam's fault.

But the worst, the absolute WORST, was when he got to Africa and argued that the state of sub-Saharan Africa's economy couldn't have anything to do with colonization because, after all, many other countries in the world were colonies, including, and I quote, "the US was a colony too" (Yes, the US was a colony, in which the colonizers settled and literally eradicated the local population so our colony wasn't really so great for them). He even had the gall to argue that colonization offered some BENEFITS in certain countries like a "rule of law" and other "democratic values". Ah yes, gotta love that freeing the savage and bringing them civilization narrative. He mentioned that sometimes he's lectured to audiences with Africans in it who get very upset with him. Gee, I wonder why.

Seriously. Just f**k this guy. The fact that he's been spreading his small-minded low-toned bigotry to thousands of American students over decades is a horrifying thought to me and I'm ashamed of the Teaching Company for giving him a platform.

[Julie]

I love listening to these Timothy Taylor lectures. They are perfect accompaniment in the car if you have more than a half hour drive. Although his lectures are about modern day economics, he relates economic theory to some very interesting trends in our society, like selling organs or why we choose to have fewer children. Humorous and informative, these are a perfect form of educational entertainment.

[Dennis Murphy]

America and the New Global Economy by Timothy Taylor is an excellent survey course, though one that is rapidly becoming outdated. Unlike with most history, literature, and even basic science courses, this course was designed with a particular time period in mind. The world has changed quite a lot in the past 15 years, and with every year that passes, the more daylight this course has between its key principles and the contemporary world. You also get a window into a different era when you go through this course, as he says some things that are increasingly controversial. He does not wholly endorse the idea that Africa's contemporary problems can easily be linked to colonialism, and he spent some time talking about Islam in the Middle East (likely inspired by the great Islam debate that dominated the early part of the War on Terror) and its association with diminished economic activity due to actively enforced religious sanction on interest. The comments might have been a little offputting in 2007/08, but in today's world that is more than enough for some to cast down on his entire project. He didn't spend more than ten minutes or so on them in a course that's 18 hours long, but they did stand out prominently in my mind as noteworthy. There are a couple of other anachronisms, some disguised, others not so much, in the lecture series as well.

That said: does the bad outweigh the good? I wouldn't say so, at least not yet. Time is this course's greatest enemy, as conventional wisdom of yesteryear is going to seem increasingly foreign, controversial, and outdated in the world that's being made today.

84/100

[Don Heiman]

In 2008 Economics Professor Timothy Taylor presented his Teaching Company 36 lecture course “America and the New Global Economy.” At the time of his presentation Timothy was the Managing Editor of the “Journal of Economics Perspective” and author of the textbook “Principles Of Economics”. His Teaching Company course discusses the basic principles of micro and macro economics in the context of the American, Chinese, Japanese, India, South American, Soviet Union, and African economies of the 1960’s to the early 2000’s. His lectures also overview economic forces of climate change, multi-laterals (ie. World Bank, WTO), and globalization activities of the period. The 156 page course guide is very helpful for people interested in the global economics of the later years of the 20th century. (P)

[David]

Great course! He gave a good overview of all the major economic regions around the world and their current (and sometime historic) economic condition. He ended with several lectures on globalization, climate change, and poverty. Some good stuff? I appreciate that he did not make absolute statements about any of these and didn’t dismiss the issues either. Good stuff!

[Jen Jenson]

Very interesting!

[Yatir Linden]

36 chapters that cover wide range of topics that help to shed light on many regional global issues.

[Kiki]

CD course. I can’t quite remember how I felt about this course when I listened to it 9 years ago, so I assume that means it was neither good nor bad and I’m giving it three stars.

[Ann]

I loved this book. It's part of my newfound love for economics. I loved learning the history of different economies, and Timothy Taylor is excellent at making this subject fun and enjoyable. If you are dreading economics check him out, he may just make you love it. Or maybe I'm really weird for liking this stuff. One of those two.

[Regina Mastrogiacomo]

What a great way to learn about globalization and how my beliefs were a little off. I thought the narrator would be boring, but he was completely captivating and entertaining. Everyone in the United States should listen to this book.

[Nolan Scott]

Tim the tool man Taylor is now an author...

Great read, I love the statistical data. Tim's open minded views make it even better.