Scarsdale Adult School Catalog Fall/Winter 2024-25
Myths and Facts about the Deglobalizing World Economy Soon after the fall of the USSR until about 2007, the world economy experienced a period of “hyper-globalization” in which trade, investment, and technology flowed freely across the globe. The result was higher incomes, a dramatic drop in global poverty, and the emergence of middle classes in places like China, India, Indonesia, and Brazil. But the globalization also had downsides, notably the loss in working class jobs in the West and widening income inequality. These downsides were aggravated by the 2008 global financial crisis, the pandemic, and the war in Ukraine. That combination led to a backlash that has taken the form of nationalism, protectionism, and authoritarianism. So where are we now? Are we truly deglobalizing and, if so, what price are we paying in lost growth and prosperity? DAVID M. CHENEY , former Chief Editor of the International Monetary Fund (IMF), is a freelance writer, editor and external-relations advisor for international economic and financial institutions. Before joining the IMF, he was an economist and editor at Chase Manhattan Bank, and earlier a policy analyst at the U.S. Export-Import Bank. Monday, September 9 • 10:00am-11:15am • Westchester Reform Temple • Course 12749 • $30 Demystifying the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the most important and least understood global economic institution in the world today. Created in 1944 along with the World Bank and the General Agreement on Tariffs and Trade (predecessor of the World Trade Organization) to rebuild the world economy after World War II, it is sometimes referred to as the world’s financial crisis manager and lender of last resort. It often gets a lot of bad press for “imposing painful economic austerity” on its 190 member countries and for forcing free market capitalist policies on its members. Demystify the IMF and discuss its mandate, activities, and track record, as well as its future prospects. DAVID M. CHENEY (see bio for “Myths and Facts about the Deglobalizing World Economy”). Monday, September 23 • 10:00am-11:15am • Westchester Reform Temple • Course 12750 • $30
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