HIST-1106EL Study Guide - Quiz Guide: Corporate Social Responsibility, Amartya Sen, Global Governance
13 Nov 2020
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More restrained forms of globalization need not embrace the assumptions inherent in deep integration. By placing limits on globalization, the bretton woods regime allowed the world economy and national democracies to flourish side by side. Once we accept restraints on globalization, we can in fact go one step further. Global rules can enhance the operation of national democracies. The hyper globalization agenda: minimizing transaction costs in the international economy, accommodate commercial and financial interests seeking market access at low cost, giving predominance to the needs of multinational enterprises, big banks, and investment houses. We have a choice in how we overcome this defect: we can globalize democratic governance along with markets, or we can rethink trade and investment agreements to expand space for democratic decision making at the national level. Global governance has a nice ring to it, but don"t go looking for it anytime soon.
