Published in 1999, Panic Rules provides a detailed exploration of how untethered globalism stifles developing nations and consolidates power in wealthy ones.

Globalization came with the promise of greener pastures for impoverished nations.

Wages would skyrocket and a new wave of prosperity would curb poverty and hunger around the globe.

But the promise of globalization was a lie: the unchecked capitalism and economic bullying by wealthy nations toward underdeveloped regions have created a new era of colonialism.

Robin Hahnel is an economist, author of over a dozen books, and professor of economics at Portland State University.

Hahnel is an outspoken advocate of participatory economics and inclusive bargaining for economically underdeveloped nations.

Panic Rules! is a 1999 book that foreshadowed the 2008 global financial collapse which was caused by deregulation and fraudulent players in international markets.

Hahnel proves that unregulated global markets have consolidated wealth and power in the richest nations and increased poverty almost universally.