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Business - Pros and Cons of Globalization.docx

3 Pages

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Philosophy 2074F/G
Michael Herbert

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WHY GLOBALIZATION WORKS – WOLF  The dramatic advance of globalization and neoliberalism has been accompanied by an explosive growth in inequality and a return of mass poverty and unemployment  The net result has been massive growth in inequality  What is most important is not necessarily income but the living standards of the poor, but in terms of their health, life expectancy, nourishment and education  International economic integration may affect global inequality in several different ways  Globalization may raise incomes of globalizers, while nongloblalization lowers the incomes of nonglobalizers  Perfectly feasible policy changes, this vast country could generate rapid rates of economic growth and reductions in poverty  Never before have so many people – or so large a proportion of the world’s population – enjoyed such large rises in their standards of living  The period of convergence and globalization saw the incomes of the poor developing countries, with more than half of the world’s population, grow substantially faster than those of the world’s richest countries  The notion that international economic integration necessarily makes the rich richer and the poor poorer is nonsense  What successful countries all share is a move toward the market economy  While the ratio of the average incomes per head in the richest ountry to those in the worlds least successful countries is rising all the time, the proportion of the world’s population living in the worlds poorest countries has happily been falling  The rising ratios between the average incomes of the world richest and poorest countries are consistent with declining inequality among countries, weighted by their populations  The a dollar-a-day measurement of poverty means different things in different countries  Pogge and Reddy provide a warning, that all poverty estimates are inherently arbitrary  Improvements in life expectancy have meant a decline in global inequaity as well  Fertility rates have cut almost in half in many developing countries  Numbers in underdevelopment have dropped dramatically as a result of globalization  The number of child labour has actually dropped  Literacy rates have risen  Parents have never put their children to work out of indifference or malevolence, but only out of necessity  Developing countries are reaching higher levels of social progress at lower levels of income than the high income countries of today PRIORITIES OF GLOBAL JUSTICE – POGGE  The demise of the Soviet bloc gave the aff
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