The Political Economy Of Globalization

1699 Words7 Pages
Joseph Stiglitz and Layna Mosley both discuss globalization in detail and both have similar views regarding globalization. In the chapter “The Political Economy of Globalization” Layna Mosley asks the question whether globalizations effect on government policy making has adverse effects on the state of the global economy or if governments retain autonomy in regards to policymaking despite globalization. She analyzes trends in globalization and the hypothesis of “the race to the bottom” as well as economic openness and if government are truly in control of capital markets. Joseph Stiglitz however analyzes globalization in a historical and current point of view and how the management of globalization has comparatively helped developed nations extensively more than developing/poor nations. Stiglitz’s supports his argument regarding the poor management of globalization by arguing that monopoly power created by patents and the TRIPs agreement has resulted in an unfair global market and is overall very critical of trade agreements. This paper will summarize and critically analyze these two readings and why both texts make strong a valid point in regards to the management of globalization and its effect on the global environment. Furthermore this paper will argue why the texts support the claim that globalization has not only prospered but also resulted in the end of the nation-state because of the increasing interdependence between countries all around the world. Globalization has
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