If globalization and financial crises ‘go together like baseball
and steroids,’ how can the global economy protect itself from
disaster? Bestselling author Sylvia Nasar proposes an answer
2/23/2009 - With the recession spreading worldwide like pandemic
flu, globalization has revealed its darker side. Sylvia Nasar,
for one, isn’t surprised. || || | “Anyone who has read economic
history knows that globalization and financial crises go
together like baseball and steroids,” said Nasar, an economist,
journalist and author of the bestselling book A Beautiful Mind ,
a biography of Nobel-Prize winning economist and mathematician
John Forbes Nash. Nasar, who spoke Feb. 19 in the Kellogg
School’s Owen L. Coon Forum, explained that economic downturns
that occurred in the 19th century look much like the current
global recession. “A bubble burst, investors panicked, asset
prices collapsed … and being the world’s biggest economy, we
plunged into a recession and dragged much of the world with us,”
she said. Karl Marx and Fr