The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. This volume defines and makes sense of the workings of the global economy-and how it influences businesses and individuals. Each chapter identifies common questions and issues that have gained exposure in the popular media-such as outsourcing, the high cost of international travel, and the impact of a fast-growing China-to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events,Globalization illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives.

Donald J. Boudreaux is Chairman of the Department of Economics at George Mason University, where he teaches courses in international economics and policy, law and business, and macro- and microeconomics. Previously, he was president of the Foundation for Economic Education, Associate Professor of Legal Studies and Economics at Clemson University, and Assistant Professor of Economics at George Mason University, and has also served as an Olin Visiting Fellow in Law and Economics at the Cornell Law School. He has lectured in the United States, Canada, Latin America, and Europe, on a wide variety of topics, including the nature of law, antitrust law and economics, and international trade. He has published in The Wall Street Journal, Investor's Business Daily, The Washington Times, The Journal of Commerce, as well as several scholarly journals, book reviews, and contributions to books, scholarly websites, and encyclopedias.