Chapter 12 - Chapter 12 Global Backlash State of the...

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Chapter 12 Global Backlash
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State of the Affairs Ensuring that low-income countries do not miss out on the benefits of globalization is a crucial moral challenge, but it is also in the self-interest of developed countries to confront global poverty aggressively. Peter Sutherland, Chairman, Goldman Sachs International I am not sure at all that we have learned from experience, and I worry that we will end up making the same mistakes again and again. Robert McNamara, Former US Secretary of Defense
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Who is Benefiting? General Public Elite: financial, industrial, etc Governments
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Intended or Unintended Outcomes We are confronted with what is becoming an explosive contradiction. At a time when the emphasis is on empowering people, on democracy moving ahead all over the world, on people asserting control over their own lives, globalization has established the supremacy of the market in an unprecedented way. … The forces of financial markets seem to be running amok, humbling governments, reducing the power of
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This note was uploaded on 09/21/2011 for the course ECON 101 taught by Professor Flah during the Spring '10 term at Punjab Engineering College.

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Chapter 12 - Chapter 12 Global Backlash State of the...

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