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March 16 MOS Lecture

March 16 MOS Lecture - March 16 Lecture Globalisms...

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March 16 Lecture: Globalism’s Discontents (Stiglitz): - Globalization is a topic that has polarized people throughout the world - Why that some countries have benefited under globalization and others have not? - Countries that have managed globalization on their own have fared better – East Asia: o Reaped greater benefits of globalization o Ensured that the benefits were equitably shared o Could substantially control the terms in which they engage in global markets - Beneficial Globalization: o Successful examples: Countries determined their own pace of change Benefits were shared equitably Rapid privatization and liberalization was rejected or significantly reduced o Darker Side of Globalization: Most adverse effects have arisen from the liberalization of financial capital markets This has increased risks to developing countries without increasing the benefits Rules imposed by organization such as IMG are often seen as arrogant and condescending
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