ECO 2121 Lecture Notes - Lecture 1: Primitive Accumulation Of Capital, Pareto Efficiency, Marginal Product
Document Summary
Dimensions of globalization: globalization: the process of international integration of local cultures, markets and political entities, economic globalization: the emergence of an international market, factors: Lesser degree of integration: nato, nafta, asean, mercosur, cis: cultural: emergence of global hybrid culture. Globalization improved standards of living, particularly in developing and emerging countries, an expansion of global middle class. Globalization has reduced world inequality the gini coef cient of the world economy improved. Economic globalization sets in motion a virtuous circle, leading to higher cultural and political integration. Today"s culture of political cooperation is to be compared with the con ict prone culture of 19th century and early 20th century imperial powers and nation states. Various arguments against globalization: anti-corporatist and anti-capitalist arguments. Against the expansion of markets, commodi cations, consumerism, alienation. Might offer support for alter-globalization: anti-political integration arguments. Against global governance perceived as inevitably unaccountable, undemocratic, & oppressive: anti- cultural integration arguments. Against cultural imperialism (colonialism, misappropriation: environmental argument.
