QUESTION 1- GLOBAL EXPERIMENT
Friedman & Norberg
Freidman favors free trade, open markets, individual enterprise, and deregulation.
He does not like government intervention and thinks that the IMF is a form of large
government intervention, which is detrimental because it bails out investors and
encourages speculation, as seen through the East Asia Crisis. Friedman asserts that the
East Asia crisis was not a failure of market, but of too much IMF/government
intervention. He claims that there should be more deregulation and limited government
Similarly, Norberg defends individual liberty in the economy. He favors free
trade, open markets, individual enterprise, and deregulation. He builds a utopian picture
where globalism increases openness, spreads ideas, and is good for economic growth.
Norberg believes that humans unleashed from the barriers of trade will spread ideas and
solve their problems, increasing productivity. Norberg also claims that free markets and
economies prevent monopolies with exclusive privileges because they create efficient
financial markets that promote competition.
Paul Hawken participated in the Seattle WTO riots. He argues that Multi-
Nationals are an oligarchy controlling the world and its politics through limitless access
to capital. He further says that the events in Seattle were simply one battle in the larger
war for labor, environmental, and global south equality.
Naomi Klein argues against deregulation. She believes that the world is in
desperate need of true internationalism, and that we must go beyond protest, from anti-
globalization to democratic globalism. She supports regulation, and suggests that the
WTO may pass acts that would privatize water and heath care, among other naturally
public goods. Additionally, the WTO must regulate globalization under a multilateral
position, by taking into account each individual country they decide to help, rather than
just imposing the Social Adjustments Program.
Some similarities between the authors is that Friedman, Hawken, and Klein may
agree that institutions such as the WTO are not good, though their reasoning would differ.
Klein and Hawken would state that the WTO promotes the status quo, which is bad.
However, Freidman would argue that the WTO is a form of government regulation,
which he considers to be bad.
Some differences include that Friedman and Norberg are obviously supporters of
the free market and laissez fair approach to economic policy. Whereas, Hawken and
Klein believe in the power being shifted from multinationals to the people.
I personally believe that there must be some regulation because one cannot just
impose a plan on a country, and then wait for it to succeed or to fail. As Stiglitz explains
in his article about the East Asian Countries, the countries that seemed to flourish were
those that had a lot of government involvement. Conversely, the countries that utilized
the Social Adjustments Program, globalism was forced too quickly without any