Saving Globalization From Itself: Does Free Trade Need Reform?

Globalization represents international trade at its best. But in practice, globalization has failed the poor nations of the world, largely benefiting the powerful U.S. and European nations responsible for writing the rules governing the free-market economy.

Even in the U.S., the lion's share of the profits go to big-business and the wealthy. Many Third World nations cannot develop over the long term under the conditions imposed by globalization.

Is globalization still the answer to lifting poor countries out of poverty? Can the process be reformed to work to the benefit of all rather than the few and the wealthy?

Guests:

Tina Rosenberg, Author of "The Free Trade Fix" in The New York Times Magazine;
Daniel Yergin, Executive Producer of the PBS series, "Commanding Heights: The Battle for the World Economy" and President of Cambridge Energy Research Associates;