stiglitz - slow pace, creating a larger and larger rift....

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Steven Delaney 1-27-2011 Stiglitz Response Stiglitz discusses where globalization needs to go from where it currently is due to its incapability to work for less than well off nations. He brings up points showing how current globalization is not beneficial enough for those countries, or even end up worse off than before, due to their lack of economic size. Stiglitz starts by describing how globalization has actually increased the range of economic size between those rich and poor countries. He draws America and Mexico as an example, due to the increasing divergence recently. He also looks at places such as China versus Africa. China has had a great growth rate in recent years, due to their investments in technology and education. Since they are doing so well they are able to invest more into these field, thus continue to increase growth rates. While a place like Africa, doesn’t have the ability to invest in such things, thus stays behind at the same
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Unformatted text preview: slow pace, creating a larger and larger rift. This leads to more problems when we look at medicine and keeping populations healthy. Smaller nations cannot keep up with the developing countries products, most importantly medicine. When the income of an average person in a smaller country is lower than the cost to stave off illness, there is a great problem, mostly because these illnesses are often more likely in the smaller nations themselves. Stiglitz speaks of how globalization is something that cannot be stopped, but perhaps directed in a more fitting direction. He proposes many changes that need to be made in order to receive the full benefit for all parties involved in globalization, but seem to be high hopes when there are too many capitalistic nations already flourishing....
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This note was uploaded on 05/01/2011 for the course CMN 3 taught by Professor Puckering during the Spring '06 term at UC Davis.

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