5.According to the third Economist article, “More pain than gain”, which white-collar jobs (and wages) are most at risk? 6.In the second lecture, Ruby alluded to the need to shield the ‘losers of globalisation’ – what measures were mentioned in the articles? 7.What are your own thoughts about inequality? Why is it an important social concern? Is it a necessary evil in some respects?
Q.1What are the major criticisms of the behaviour of multinational companies (MNCs) as identified by Stiglitz?
Q.2 • Greater adoption of corporate social responsibility measures into accounting frameworks and company reporting • Greater limits on the build up of monopoly (or oligopoly) power through limits on international mergers and acquisition and greater anti-trust style action • Changes to limited liability to make directors/executives more personally accountable for disasters, illegal actions etc. • Development of consistent, enforceable global legal regimes • Making corruption and bribery harder and firms more accountable
Q.3 • As the article points out, the key reason has to do with MNEs’ outsourcing activities which, in these developing countries, see them employing skilled workers (rather than unskilled workers contrary to popular expectations) and paying higher wages,