A sweeping case that a new age of economic localization will reunite place and prosperity
putting an end to the last half century of globalization—by one of the preeminent economic
journalists writing todayThis invaluable book is as bold in its ambitions as it is
readable.”—Ian Bremmer New York Times bestselling author of The Power of CrisisONE OF THE BEST
BOOKS OF THE YEAR: Kirkus ReviewsAt the dawn of the twenty-first century Thomas Friedman in
The World Is Flat declared globalization the new economic order. But the reign of
globalization as we’ve known it is over argues Financial Times columnist and CNN analyst Rana
Foroohar and the rise of local regional and homegrown business is now at hand. With bare
supermarket shelves and the shortage of PPE the pandemic brought the fragility of global trade
and supply chains into stark relief. The tragic war in Ukraine and the political and economic
chaos that followed have further underlined the vulnerabilities of globalization. The world it
turns out isn’t flat—in fact it’s quite bumpy. This fragmentation has been coming for decades
observes Foroohar. Our neoliberal economic philosophy of prioritizing efficiency over
resilience and profits over local prosperity has produced massive inequality persistent
economic insecurity and distrust in our institutions. This philosophy which underpinned the
last half century of globalization has run its course. Place-based economics and a wave of
technological innovations now make it possible to keep operations investment and wealth
closer to home wherever that may be. With the pendulum of history swinging back Homecoming
explores both the challenges and the possibilities of this new era and how it can usher in a
more equitable and prosperous future.
