Comparative Politics Notes Part 7 - I got a 4.0 in this course

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University of Massachusetts Amherst
Political Science

December 4, 2013 Globalization Economic Development in a Global Era Pro-Globalization Position • Absolute (Definite) Gains • New technologies introduced • New jobs produced • Lower prices of goods • Not lower prices for everything, but as a result of the intensification of global trade, goods can be brought to stores close to you (5 dollar Target t-shirt) • Increase in aggregate wealth • Not everyone everywhere, but as a globe, we have increased our standard of living • Increased standards of living Thomas Friedman Globalization is inevitable The Golden Straightjacket • • Economic Liberalization • Golden ticket for nations who are trying to develop • Electronic Herd • International Investors • Boils down to nature of investment • Is no global state that is out there going to help equalize trade between all nations • The irresistible force of globalization • “If you want to resist these changes, that is your business…But if you think you can resist these changes without paying an increasingly steep price…you’re deluding yourself” - Freidman, page 60 Anti-Globalization Position • Relative Losses • Exploitation of workers • “Race to the bottom” • Horrible conditions for workers (Third World countries) • Really low wages and cheap labor • See how they can actually drop their wages • Destructive tendencies in these populations with low wages Uneven distribution of wealth • • People question the “Washington Consensus” • IMF, World Bank, WTO (World Trade Organization) • Decrease in relative standard of living • Inequality • Unevenness of development is going to mean very dramatic inequality Galbraith Globalization and Inequality • Kuznet’s Curve • Economic development leads to inequality at first, then moves back toward equality ove
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