The Travels Of A T-Shirt In The Global Economy

Globalization is such an important word today, but as a concept it is sometimes difficult to grasp. What is globalization? Is it political? Economic? Social? All of the above? In TRAVELS OF A T-SHIRT IN THE GLOBAL ECONOMY, Pietra Rivoli, a real-world economist, explains how globalization works using a creative, attention-getting, and informative method: she follows the trail of a hypothetical t-shirt as it moves from its origins as cotton grown in Texas, to China where it is manufactured, to Florida where it is sold, and to its final destination as a secondhand item in Tanzania. Each location along the way is an opportunity for Dr. Rivoli to explain issues of politics and markets, and how they affect everyday people. She explains, for example, America`s two-century dominance as grower of cotton, but advises that history shows that almost all dominance in world markets is temporary and that even the most impressive stories of national industrial victories typically end with sobering postscripts of shifting comparative advantage. Rivoli shows the dominance and shifts brought about by globalization. Copyright (C) Muze Inc. 2005. For personal use only. All rights reserved.