Making Globalization Work Preface
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This document provides biographical information about Joseph E. Stiglitz and summarizes some of his major works on globalization. It notes that Stiglitz has spent over 40 years studying the strengths and weaknesses of market economies. One of his most well known books, Globalization and Its Discontents, chronicled issues like financial crises and the transition from communism. His work argues for policies to make globalization more inclusive and balance private and public interests.
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A globalização é um processo de integração econômica, social e cultural entre países, resultando no crescimento de cidades, dependência econômica entre nações e disseminação de culturas. Características da globalização incluem a aldeia global, blocos econômicos e competição entre corporações multinacionais. Esportes e tecnologias de saúde também foram afetados pelo fenômeno da globalização.
Globalização
O documento discute o conceito de globalização, descrevendo-a como um processo histórico de crescente interdependência entre povos e países através da difusão de ideias, valores, formas de produção e trocas comerciais. A globalização é representada por uma "aldeia global" onde as pessoas de diferentes lugares compartilham experiências e produtos culturais similares. No entanto, existem resistências locais à homogeneização cultural imposta pela globalização.
Globalização
1. O documento discute os conceitos e perspectivas em torno da globalização, incluindo visões globalistas e cépticas.
2. É analisada a transformação do poder do Estado e dos padrões culturais nacionais, bem como os desafios da desigualdade global e ambientais.
3. A globalização é caracterizada como um processo multidimensional com impactos em diversas esferas como a econômica, social, política e cultural.
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Joseph Eugene Stiglitz
1) Joseph Eugene Stiglitz is an American economist who received the Nobel Memorial Prize in Economic Sciences in 2001 for his analyses of markets with asymmetric information.
2) He has made significant contributions to the theories of information asymmetry and screening and helped create the field of economics of information.
3) His work on efficiency wages and the Stiglitz-Shapiro model challenged the assumption that markets are always efficient and established the foundation for modern economics.
POL 190 Globalization and Development Development Poli.docx
POL 190 Globalization and Development
Development Policies
Combinations of economic policies have been used by state officials to foster growth and economic
change. Most state leaders see an interest in fostering economic growth, but this is a challenge that may
not be completely within the control of the leaders of developing countries. In addition, the policy
measures that they take may not actually lead to the desired outcome.
Development policy has been a central element in addressing the gap (in wealth, income, industry,
technology, health/education, life expectancy, etc) between states.
There are two broad approaches: the market/neoliberal/laissez faire, and the state-led/interventionist
approaches. Note the way that these ‘schools of thought’ provide different explanations for the problems
facing developing countries and opposed strategies:
Policy Type Market/Neo-liberal
development policy
State-led/Interventionist
development policy
Does Economic policy matter? Yes
Yes
What causes development? Free markets Strong states/high-quality state
interventions
What causes
underdevelopment?
Too much state involvement Weak or poor/low-quality state
intervention
Main policy recommendation Reduce the state’s economic role Build the state’s economic
capabilities
Cases that confirm the
recommended policy approach
UK, US South Korea, Singapore, Japan
Test case: Why has China been
successful?
After 1979, opening to the market
has led to economic success
After 1979, strong state remains
active in managing China’s
economy
Test Case: Why has sub-
Saharan African been
unsuccessful?
Too much state intervention,
corruption
Weak states, low capacity for
decision making or provision
good public policy
Economic policy has shifted away from the state-led approach towards the market approach since the
1970s. Developing countries have made this shift in economic policy through two processes:
Being pushed/coerced by other states, global corporations and international organizations
Leaders made the decision to ‘shrink’ the state for domestic political reasons
Over the last 40 years, economic policy and differences in economic growth/wealth have also been
profoundly shaped by a larger process: ‘globalization’.
‘Globalization’: Basic Features
Increased Trade: States gradually eliminated barriers to trade
Increased Global Investment Flows: States eliminated barriers to investment and speculation.
Firms became globally mobile/diversified
The increased power of the global corporations. Businesses organize production around global
supply and manufacturing chains
Economic and social problems become ‘globalized’: environment, labor, product standards,
financial risk, etc
How? Historical Process of Contemporary Globalization: 1970s-2000s
The modern global economy is a product of deliberate state policy actions (and is not a ‘natural’ or
inevitabl.
Recent trends in Income Inequality
Literature review and summary of recent publications, blogs and reports. Delivered July 3 2014, At University of Novi Sad Conference: The Socio-Economic Aspects of Inequality.
CTGE Session 2 Globalisation and Development
The document outlines the agenda for a course on competitive territories in the global economy. It discusses several key topics:
1) Globalization and its implications for business competitiveness and territorial competitiveness.
2) Clusters, global value chains, and competitive territories. It will examine how clusters link firm and territorial competitiveness.
3) Open innovation and its relationship to territorial competitiveness.
4) Innovation systems and the role of public policy in supporting innovation and competitiveness within a territory.
The course aims to explore what makes territories competitive in the current global economic context.
What is global economy.docx
Global economy refers to economic activities worldwide that impact multiple countries. It is important because growing populations lead to growing markets, which drives world economic growth. Significant players that influence the global economy are countries that encourage productivity and efficiency gains across borders to support worldwide economic development.
Income inequality is the unequal distribution of income throughout a population, which can cause social problems. Wealth inequality also refers to the unequal distribution of assets like property and investments. They relate to nation development because high inequality can slow economic growth by limiting opportunities for many citizens.
Capitalism involves private ownership of production assets and market-determined prices and wages. Socialism involves public or cooperative ownership of production and government control of prices and wages to meet people's needs
Ipe21
The document summarizes major global economic changes since 1989, including the end of the Cold War, increased globalization, financial crises, and the rise of China and India. It discusses issues related to the future of the Eurozone, austerity measures, and growing economic volatility. Finally, it briefly profiles several thinkers who have studied topics like globalization, poverty, property rights, and international governance.
Economics 464Populism and economic populismBackgroundPop.docx
Economics 464
Populism and economic populism
Background
Populism has a long tradition in the United States and in Latin America. In the US, both the Occupy Movement and the Tea Party can be considered populist, one on the left of the political spectrum and the other on the right. Populists tend to shun traditional political parties, often argue that the system is broken and corrupt, and try to go directly to the people in their appeals. They are often led by a charismatic individual (see: Hugo Chavez).
In Latin America, Juan Peron of Argentina (1946-1955 and 1973-1974) is probably the most well-known populist leader. Others that are often labeled populists are Lopez Portillo in Mexico (1976-1972), Goulart (1961-1964) in Brazil, Garcia (1985-1990) in Peru. Historians and political scientists debate whether socialists like Castro or Salvador Allende (Chile, 1970-1973) can be considered populists.
Traditionally, populist movements in Latin American have three main goals:
· Democratic inclusion;
· Economic nationalism;
· Social justice.
A new kind of populism?
In their edited work, The Macroeconomics of Populism in Latin America, Dornbusch and Edwards hypothesize that a new strain of populism emerged after World War II, which they label economic populism. Its primary difference from other types of populism is the complete disregard for economic constraints. Historically, populists in Latin America were aware of the constraints imposed by budgets, exchange rates, the money supply, and other variables but economic populists are less bothered by these limits. Dornbusch and Edwards define economic populism as: Economic policies emphasizing growth and redistribution which simultaneously de-emphasize (or deny the importance of) inflation risks, deficit finance, external constraints (i.e. trade and exchange rate issues), and the reactions of economic agents.
Economic populism does not seem to flourish where one or two multi-class political parties provide stable electoral majorities, and it is stronger where popularly supported groups have been excluded politically (e.g. unions, indigenous rights movements, leftists, rightists). It also flourishes where there are no stable majorities (countries making the transition to democracy
The populist cycle
Dornbusch and Edwards hypothesize that episodes of economic populism begin with a particular set of initial conditions:
a) Deep dissatisfaction with the status quo, inadequate growth or even recession, often as a result of previous stabilization programs.
b) A rejection of constraints on macro policy. Partly a result of existing idle capacity which seems to hold the promise of easy expansion. Given that there is often rationing of foreign exchange (foreign exchange) and credit, there is more leeway for expansion. Excess capacity and potential economies of scale imply little inflationary pressure.
c) Policy prescription is to (1) reactivate, (2) redistribute, and (3) restructure. Fiscal ...
Ipe22
The document discusses changes in the global economy since 1989 including the end of the Cold War, acceleration of globalization, rise of neo-liberalism, and the 2007-2008 financial crisis. It examines issues in international political economy around reconciling global economic growth and environmental protection, dealing with multinational corporations, and preserving democratic governance. It notes renewed focus on local communities in response to globalization's negative effects and scaling back of social programs. Key issues are continued poverty, inability to overcome forces leading to violence and war, and redefining government roles. Recent concerns include greater financial market regulation and relaxation of intellectual property enforcement to address crises. Thinkers considering these issues are mentioned.
Economic system Capitalism Socialism And mixed Economy By Milan Kagarana
This presentation discusses different economic systems - capitalism, socialism, and mixed economies. Capitalism is based on private ownership and profit motive, while socialism involves collective or public ownership and economic planning. A mixed economy combines elements of both systems, with some industries privately owned and others publicly owned. The document provides examples of countries that follow each system and discusses advantages and disadvantages of each type.
Ipe23
The document discusses several issues related to globalization and its effects on local communities. It notes concerns about continued poverty, the inability of globalization or localism alone to address issues like violence and war, and the need to redefine the roles of local, national, and international governance. It also outlines potential areas of future study, including reconciling global economic growth and environmental protection, dealing with powerful multinational corporations, and preserving democracy amid disruptions. Recent concerns mentioned include regulating financial markets in response to the global financial crisis and focusing on education and infrastructure. The document lists several thinkers addressing these topics.
Chapter 10 Globalization of Ethical Decision Making
This chapter examines the globalization of ethical decision making in business. It discusses how advances in technology, communication and transportation have created a more interconnected global economy. International business transactions complicate ethics due to varying cultures, values and standards between countries. The chapter aims to help students understand cultural differences that can impact business practices, global ethics issues, and how to avoid ethical problems in global business environments. It also examines the role of international organizations and how economic systems and events shape ethics internationally.
GLOBALIZATION and The Globalization Paradox: Why Global Markets, States, and ...
is the process of interaction and integration among people, companies, and governments worldwide (en.m.Wikipedia.org). The authors of the articles discussed that;
Impacts of Globalization on developing and developed countries
Faire economic distribution and employment opportunities
National government demands to frame their policy aligned with international environmental laws and regulations
Amartya Sen "Development as Freedom"
Amartya Sen's 1999 book "Development as Freedom" argues that development should be understood as expanding the freedoms and capabilities of individuals. Sen defines freedom as both the processes that allow freedom of actions and decisions, as well as the opportunities available to individuals. True development requires removing major sources of unfreedom like poverty, tyranny, and lack of economic opportunity. Sen discusses five types of instrumental freedoms - political freedoms, economic facilities, social opportunities, transparency guarantees, and protective security - that interact and can strengthen one another in the development process.
Chapter 2
The document discusses different types of economic systems including traditional, command, and market economies. Traditional economies are exemplified by indigenous groups like the Inuit who share resources based on custom. Command economies centralized major economic decisions in the government as seen in North Korea and Cuba, while market economies like the US allow private individuals and businesses to make decisions.
Globalization and Justice Essay Sample
Globalization, i.e. the mechanism of continuous integration of different economies of the
world, is strongly in progress all across the globe.Supported by heightenedtempo of
technological changes, by liberalization of trade and by rising significance of supranational
regulations, globalization has opened up the nations to a competition much more intense than
ever before (Globalization: A Brief Overview). Globalization mainly entails the spread of social,
economic and cultural viewpoints in all parts of the world. It also enables high level of
uniformity among various places due this spread. This has been possible because of greater
integration of nations through the growth of investments, international trade and free of flow of
capital.
CHARACTERISTICS, ADVANTAGES AND DISADVANTAGES OF ECONOMIC SYSTEMS
This document defines key economic concepts and compares different economic systems. It begins by defining economics as the study of how scarce resources are used to meet wants and needs. An economic system is defined as how a society addresses basic questions of what, how, and for whom to produce goods and services. The main types of economic systems discussed are traditional, market, command, and mixed. Their key characteristics and advantages/disadvantages are summarized. Traditional systems rely on customs, while command systems involve central government planning and market systems use supply and demand. Mixed systems blend public and private aspects.
Concept_of_Development.ppt
There are many perspectives on what development means and what causes underdevelopment. Todaro defines development as improving living standards, self-esteem, and freedom of choice in a multidimensional process. Alternative views see development as economic growth, modernization, or distributive justice. Marxist and dependency theories emphasize unequal international relationships. Popular development stresses local diversity and participation. Explanations of underdevelopment include vicious circles, colonial exploitation disrupting traditional societies, and heterogeneous factors varying by place and time. No single theory can fully explain such a complex, dynamic process.
Concept_of_Development.ppt
The document discusses various definitions and theories of development. It describes development as both a state and a process of change. Todaro defines development as improving living standards, self-esteem, and freedom of choice in a multidimensional process. Alternative views see development as economic growth, modernization, distributive justice, or dependent on colonial relationships. Popular development theory emphasizes local solutions and participation over universal theories. Theories of underdevelopment include vicious circles, colonial exploitation disrupting traditional societies, and the international division of labor creating dependence. No single theory can fully explain complex development issues.
Concept_of_Development.ppt
There are many perspectives on what development means and what causes underdevelopment. Todaro defines development as improving living standards, self-esteem, and freedom of choice in a multidimensional process. Alternative views see development as economic growth, modernization, or distributive justice. Marxist and dependency theories emphasize unequal international relationships. Popular development stresses local diversity and participation. Explanations of underdevelopment include vicious circles, colonial legacies, and the interaction of varied internal and external factors over time and place. No single theory can fully explain such a complex, varied phenomenon.
Concept of development
There are many perspectives on what development means and what causes underdevelopment. Todaro defines development as improving living standards, self-esteem, and freedom of choice in a multidimensional process. Marxist views emphasize modes of production while dependency theories see underdevelopment resulting from unequal international relationships that benefit wealthy countries. Popular development theories stress local diversity and emphasize bottom-up solutions over top-down approaches. No single theory can fully explain underdevelopment due to countries' heterogeneity, so development must be understood through an array of changing internal and external interactions over time and place.
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- 12. Questions?
- 13. Discussion What is the “right” balance between private and public sectors? What regulations, if any, should it adopt to protect workers, consumers, and the environment? OSHA fines, Environmental Protection Agency regulations What services should the government provide? welfare, universal healthcare, education Should there be public pension programs? social security vs. 401k and the privatization of social security Should government encourage particular sectors with incentives? farm subsidies, tariffs imposed to protect steel industry