The Great Tradeoff ─ Confronting Moral Conflicts in the Era of Globalization

The global financial and economic crisis that began in 2008 has blasted livelihoods, inspired protests, and toppled governments. It has also highlighted the profound moral concerns long surrounding globalization. Did materialist excess, doctrinaire embrace of free trade and capital flows, and indifference to economic injustice contribute to the disaster of the last decade? Was it ethical to bail out banks and governments while innocent people suffered? In this blend of economics, moral philosophy, history, and politics, Steven R. Weisman argues that the concepts of liberty, justice, virtue, and loyalty help to explain the passionate disagreements spawned by a globally integrated economy.

Steven R. Weisman, vice president for publications and communications, joined the Peterson Institute in 2008. He had previously been the chief international economics correspondent of the New York Times as well as a member of its editorial board. His work has appeared in the Times Book Review, Times Magazine, and the paper's news, features, and culture sections since 1968.