Six years ago, James Dean delivered a prescient Festschrift lecture at Carleton titled "Paradoxes of Globalization" (archived as Vimeo 42046884). Many of those paradoxes have now led to dramatic events, notably the global financial crisis of 2007 - 09, and now the on-going crisis of the Eurozone. These crisis have weakened the West. Yet the East - notably China and India - are in renaissance. But is the West really in terminal decline? And can the East overcome some of the fault-lines - notably income and wealth inequality - that underly the weakness of the West? Professor Dean, Emeritus Professor of Economics at Simon Fraser University, explores these questions in a follow-up lecture at Carleton University given on May 16, 2012. Dean holds a degree in mathematics and physics from Carleton University and graduate degrees in economics from Harvard University. The lecture was sponsored by the graduate and undergraduate student societies in the Department of Economics and supported by the Office of the Dean of Public Affairs as well as the Office of Alumni Relations.