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Truth, Errors, and Lies: Politics and Economics in a Volatile World resources

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432 4. Globalization—and Then What? Treaty of Maastricht. The only exceptions are Denmark and the United King- dom, which negotiated opt-out agreements. Aside from the CFA, the ex- change rates of at least six currencies, including the Pacifi c franc (XPF), are pegged directly to the euro, and eight others have pegged fl oats (meaning that their values can fl xed bands in relation to that of the uctuate within fi euro); www.ecb.int. 22 . Robert A. Mundell, International Economics (New York: Macmillan, 1968), especially chapter 12, “A Theory of Optimum Currency Areas,” pp. 117–186; www.columbia.edu. 23 . Robert A. Mundell, The International Financial Architecture. The Euro Zone and Its Enlargement in Eastern Europe, Distinguished Lectures Series [Warsaw: Leon Kozminski Academy of Entrepreneurship and Management (WSPiZ), 2000], www.tiger.edu.pl; One World Economy, One Global Currency? Distin- guished Lectures Series (Warsaw: Leon Kozminski Academy of Entrepreneur- ship and Management (WSPiZ), 2003); www.tiger.edu.pl. 24 . There is no shortage of either apologists or critics. The apologists in- clude Johan Norberg, In Defense of Global Capitalism (Washington, DC: Cato Institute, 2003); Martin Wolf, Why Globalization Works (New Haven: Yale University Press, 2004); Jagdish Bhagwati, In Defense of Globalization (New York: Oxford University Press, 2004). As for the critics, see Will Hutton and Anthony Giddens (eds.), Global Capitalism (New York: The New Press, 2000); Naomi Klein, No Logo: Taking Aim at the Brand Bullies (London: Harper Col- lins, 2001); Manfred B. Steger, Globalism: The New Market Ideology (Lanham, MD: Rowman & Littlefi 2002); and Joseph E. Stiglitz, Making Globaliza- eld, tion Work. The controversy has also elicited contributions by Polish econo- mists, sociologists, political scientists, and philosophers. The author of the present work has joined this debate on numerous occasions, both in works published in Polish and in those that have appeared in English, including Emerging Market Economies. Globalization and Development (Aldershot, UK: Ashgate, 2003), which focuses on the positive implications for development, and Grzegorz W. Kolodko (ed.), Globalization and Social Stress (New York: Nova Science Publishers, 2005), which examines the downside. 5. The World As It Is 1 . On the staggering scale of Dürer’s contribution to art, see Paul Johnson, Creators (New York: Harper Collins, 2006). 2 . For additional remarks on the methodology and calculation of data re- lated to disparities in income distribution around the world, see Bob Sutcliffe, “Postscript to the Article World Inequality and Globalization,” Oxford Review of Economic Policy , Spring 2004, siteresources.worldbank.org.

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