Libertarianism And Ethical Analysis

That this was also the decade in which globalization came into full swing is more than a minor inconvenience for its advocates” (Rodrick). If globalization is supposed to present an advantage to developing countries, why have there been so many setbacks? Indeed, both sides will have its winners and losers regardless of which side of the development coin they live on, but for the most part globalization has lifted millions out of poverty, improved the standard of living, and increased life expectancy rates all while keeping developed nations relatively competitive to their developing counterparts. Globalization’s value is that it seeks to create an economic equilibrium in the world, where parties are free from barriers and can benefit from one another through a more efficient allocation of resources. This allows all participating nations to contribute to an integrated economy and where all nations willing to embrace globalization have the potential to benefit. Regardless, the path to successful integration to the global economy has not always been easy. There is contention towards globalization as some argue that it is detrimental to developed nations, while many developing countries that were forced to hastily open up their markets and integrate failed. However, if implemented properly, globalization has proven that it can benefit all parties involved and that the potential gains outweigh the losses.

Whether globalizations have its own pros and cons or supporters and critics, however, does not deny or change the fact that most of the corporations operating globally face daunting social issues as already mentioned. And perhaps the gravest concerns are that of labour standards in different countries around the world. Many corporations have been stung and were highlighted by revelations that their plants around the world were “sweatshops” and/or have encouraged child labour as well. This

In the article “Spiritual Perspectives on Globalization” written by Ira Rifkin and published by Skylight Paths Publishers in 2003, Rifkin defines globalization as a fusion of economic level, which encircles all the multinational companies that made possible the capital flows, cultural level, which encompass the homogenization of culture by the countries that undermine others and individual level, which features the consumerism and boost of consumer values (Rifkin). Still, globalization may reduce or increase inequality by many impacts. For many people, inequality is the process by which unfair disparity is shown to vulnerable and invulnerable groups. Specifically, globalization can impact inequality in some developing countries on the areas of regional inequality, gender wage gap and free trade.

Believing that economic globalization is truly based upon exploitation of Third world. Presenting prime examples and academic evaluation from geographers, economists and sociologists on how the explosion of globalization has made the richer wealthier, (Massey 2009) and the poorer even more isolated out of the global marketplace. (Söllner, 2014)

In Defense of Globalization is a very captivation book written by a highly respected author in the economic field Jagdish Bhagwati. At first glance, Jagdish Bhagwati disperses extensive reasonings for why it is beneficial for every nation to enter the global economy. Bhagwati gives an in-depth definition of globalization as the “integration of national economies into the international economy through trade, direct-foreign investment, short term capital flows, international flows of workers… and flows of technology.” Then he tackles down various issues such as globalization’s effects on domestic and foreign labor market, women’s rights, gender discrimination, child labor abuse, and environmental destruction. The scope of Bhagwati’s book mainly embraces globalization and free trades, his book truly satisfies critics on the pro-globalization debate.

Labour Industries in manufacturing and clothing, therefore benefit from the cheap labour costs in less developed countries because of their weak rules. But this is what drives the free market global economy; the exploitation and lack of laws in developing countries. The force of globalisation has created an amoral and powerful global economy that exploits the world’s natural resources ‘The industrial destruction of nature’ (Baylis, Smith, Owens 2014: 345). This later established non-governmental organisations

Many authors have tried to understand the world as it is today, through the study of modernity and globalisation. Appadurai, an Indian sociologist, has defined globalisation as “a new industrial revolution driven by powerful information and communication technologies which has barely begun” (2006:35). Its effects are dramatically different depending on geopolitical situations, peoples and countries. For the wealthiest countries it is a source of an ever increasing profit, whether it is culturally, economically, or financially speaking. On the contrary, for the rest of the world, and interestingly enough the largest part of it, “it is a source of worry about inclusion, jobs, and deeper marginalisation” (2006:35) and through this feeling of

The introduction and growth of globalization in the developing world coupled with the rise of Multi-National Corporations have produced an onslaught on factory workers who are forced to work in sweatshops for little or no pay. A business dictionary defines globalization as the worldwide movement towards economic, financial, trade and communications integration. Globalization points towards the opening of local and nationalistic perspectives to a broader outlook of a unified and independent world with free transfer of capital goods and services across national borders. The transfer of these goods and services is done by Multi-National Corporations (MNCs). MNCs continue to move their factories overseas to evade the strict regulatory guidelines that embody employees’ rights and privileges. Moreover, developing countries provide access to a vast pool of cheap labor. Utilizing cheap labor in less developed countries enables MNCs to continue to meet the demands of consumers in the developed countries as well as their bottom line. To gain competitive advantage in the market and increase profits, MNCs conduct business around the world utilizing the availability of cheap labor. Even though government has a part to play in protecting the human and environmental resources within host countries the question is should MNCs be allowed to abuse, exploit and violate the rights of these workers?

For many, globalisation is held out as the only means by which human development of developing countries can be improved. For others, globalisation is seen as an important process of affecting the human development of developing countries. In this essay, I attempt to provide an understanding of the main dimensions of globalisation and its impacts on the human development of the countries of the Global South.

Big corporate companies’ exploitation of workers in developing countries are driven from the basis of treating the world as a tool to gain profit; in other words, dehumanizing workers. Unemployment, dehumanization, and poor working conditions lead to detrimental health effects that are further exacerbated by the face that these individuals who face the dire consequences are not financially stable or competent to receive medical treatment or medicine. In addition, it can also be deduced that due to the unequal distribution of wealth and the health impacts that arise from the various aspects that stem from economic globalization, it results in the inequality in health and living. Thus, globalization seems to neglect the poor nations and populations as they continue to plummet down the social ladder. Though globalization has opened up opportunities for developing countries and has improved our lifes through advancements made, it is a process in which bears both negative and positive consequences, like any process or situation. However, it is important to acknowledge the injustice and inequality that some of the world’s population still faces. As such, corporations, being global citizens in an interconnected world, realize their responsibilities and collectively create a national agenda to implement policies in which would accommodate and provide nations and populations the necessary resources and accommodations to integrate themselves successfully into the globalization process

Globalization demands continuous productivity, and it also increases the pressure that competition places on international and commodity markets. More competition drives corporations to develop more efficient modes of production through new technologies and outsourcing of jobs to nations with comparative advantage in labor. Although poorer countries typically benefit from this transnational integration, they can be susceptible to wage inequality and discrimination. Large corporations can yield enormous power, particularly in poorer nations where there is little to no regulation protect individual’s corrupt arrangements (Crossette, 2000).

Globalization seems to provide impressive benefits, but some benefits prove to be dubious. In India, for the year 2010, 96.9% of the population made incomes of less than $5 a day (Poverty in India). The situation is just as dire in the local provinces of China, with 71.6% of individuals making less than $5 a day (Poverty in China). In recent years, the large trade surplus that China has accumulated stimulates an urban industrial sector that no longer creates new jobs while at the same time restricting the government's ability to increase spending to improve services and address disparities(Poverty in China). Automation in the manufacturing and agriculture sectors generally follows the appearance of multinational corporations. This lessens the need for unskilled and uneducated workers thus raising unemployment levels. Globalization, in general, is insensitive to the cultural influences that surround it; the economic structure for globalization prefers to amass cultures and indigenous civilizations into a homogenous existence, in the name of equality and fair-trading.

A fundamental issue of concern is the unequal distribution of wealth between nations and population groups resulting in the inequality the poor face. It is speculated that economic globalization, characterized by the open markets, no longer controlled by national states, but by large profit-seeking transnational companies, build more barriers between the rich and the poor. The global market in a globalist capital system neglects the populations of nations in which are not able to integrate themselves in this process. Hence, globalization gives rise to more division than unity. It is evident that developing countries have become more active players in the global economy as major exporters of manufacturers and services and are competing directly with the developed. Further, trends display that faster growth and poverty reduction have a strong correlation in developing economies that have integrated with the global economy. Thus, supporting the view that the integration has been a positive force for developing countries. However, this poses the question as to how can

In contemporary society, two broad standards of living define an individuals economic, political and social status (Nayyar 2013, pp. 41). These are the developed and developing world, concepts that have only originated in the last 150 years, which can be characterised by their success in global economic integration and industrialisation (Nayyar 2013, pp. 41). Globalisation has led to an increasingly connected and global economy, contributing to these often polar areas of the world. The capitalist ideology has been a driving force in shifting economics to a global scale, and in pursuit of wealth and competition can be attributed to the inequalities and differences observed in the developed and developing world. Coupled with the post-industrial era, Globalisation has resulted in the transition from manufacturing –centered to service-oriented industries in the developed world, while manufacturing has shifted to the developing world (Jovanovic 2015, p. 349). This process has led to disparity of wages, inequality and uneven development across national, regional and individual levels (O’Brien & Leichenko 2008, p. 96). This essay identifies the importance of the social and geographical situation of consumers in the developed or developing world in determining whether they are a beneficiary in the globalised economy. The role of advanced countries in introducing and monitoring processes of “trade, finance and investment” (Nayyar 2006, p. 138) to developing countries and how they are

Economic growth: The increase of economy is to some extent attributed to consumer culture as it drives the courage to spend more. In most of the consumer's oriented cultures, we have today, spending is seen as a need for satisfaction and happiness, and this perception helps economies during recession times (The Conversation, 2013). Developed world economies and manufacturing sectors culturally have embedded themselves to consumption ethics on ever increasing pace on high demand commodities that meet the development growth plans of increasing profits, wages, and employments. These factors spur the economic status of developed countries exponentially .as such developed economies have perfected the art of adopting and embedding consumption culture for growth (Sheth, Maholtra & Arnould).