Summary: Publisher Summary 1 A trenchant analysis of "global" capitalism shows how this economic theory and practice became a world-wide phenomenon with the advent of mass communications and sophisticated technology.   Publisher Summary 2 Offers a range of commentary on globalization's impact on capitalism. Paul Volcker and George Soros reflect on the destabilizing force of global financial markets, arguing that the Asian crisis emerged from the structure of the financial system rather than from embedded weaknesses in the Asian economies. Manuel Castells agrees that the financial markets are unstable but also, on the up-side, sees them as transmission methods of global capitalist values. Jeff Faux, Larry Mishel and Robert Kuttner show how globalization increases income inequality and job security in the US, and Arlie Hochschild examines first-world mothers employing third- world mothers as nannies. In general the writers agree that the global system needs more governance if core social and cultural needs are not to be eclipsed by new trends. Hutton is author of The State We're In and The State to Come and Giddens is director of the London School of Economics. Distributed by W.W. Norton. Annotation c. Book News, Inc., Portland, OR (booknews.com)   Publisher Summary 3 Leading experts explore the impact of globalization on capitalism. Capitalism has become the universal social and economic order of our time. But this new capitalism differs from that of previous eras: it is truly global, aided by extraordinary advances in technology and communication, and by unfettered global financial markets. Capitalism has a speed, inevitability, and force that it has not had before. In Global Capitalism, leading political and economic analysts dissect this dangerous new world. Globalization brings new possibilities to capitalism, but also new risks, ranging from the degradation of the environment to the concentrated control of the media by transnational corporations. Global Capitalismcharts the contours of contemporary capitalism, analyzes the role of the business firm in the context of increased innovation and competitiveness, and considers whether the new capitalism is compatible with social cohesion and social justice. The contributors discuss capitalism as a form of culture and way of life, and they ask whether it has any viable political rivals. Contributors: Ulrich Beck Manuel Castells Jeff Faux Arlie Russell Hochschild Robert Kuttner Larry Mishel Richard Sennett Vandana Shiva George Soros Polly Toynbee Paul Volcker