Developed Nations And The Economic Impact Of Globalization
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Developed Nations And The Economic Impact Of Globalization
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Author : Ken Moak
language : en
Publisher: Springer
Release Date : 2017-07-18
Developed Nations And The Economic Impact Of Globalization written by Ken Moak and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-18 with Business & Economics categories.
This book discusses the economic and geopolitical effects of globalization from historical and institutional perspectives. While it has had unintended consequences, such as displacing developed countries' dominance of production markets, the overall benefits of globalization far outweigh the costs. Moak argues that leading developed nations should not fear globalization but, instead, make concerted efforts to promote it in order to keep the cost-benefit balance weighing in favor of economic enhancement and geopolitical stability. Having incurred huge private and public debts as well as a weak monetary policy posture, many developed nations have been unable to recovery from the 2008 financial crisis. Moreover, geopolitical tensions are rising due to the power rivalry between the United States, China, and Russia over a host issues, including trade imbalances and geopolitics. This book aims to provide stakeholders with the relevant and necessary information to hold an objective debate on globalization. Ultimately, this book is about globalization— what it is, how it impacts the global economy and polity, and why it is needed now more than any other time in human history.
Development Growth Economic Impacts Of Globalization
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Author : Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya
language : en
Publisher: IJOPEC Publication
Release Date : 2017-04-14
Development Growth Economic Impacts Of Globalization written by Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya and has been published by IJOPEC Publication this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-14 with Business & Economics categories.
The growth paradigm or the economic growth generally been presented as a positive, limitless and good for social problems. The term was hardly touched in pre-capitalism by any academic research. With the rise of capitalism and industrial revolution it became an important tool to measure production quantitatively and qualitatively. Industrialisation also encouraged the expansion of trade and gradual breakdown of the pre-capitalist order in 18th century in Britain. The spread of market had facilitated the specialisation, encouraging division of labour. Whilst for The Classical Political Economists; Adam Smith, David Ricardo and Thomas Malthus; economic growth is self-reinforcing. Marx pointed out importance of forces and relations of production and significance of social classes within it (Marx, 1863). Smith, Ricardo and Malthus were writing at a time when capitalist development was expanding fast and growth was a central in the process. The gradual impact of the West on the rest of world became part of a wider process of change in the World Economy. European capital increased its domination of the world trade through expansionist commercial policies (Wallerstein, 1979). The economic growth encouraged commerce. The necessity to export, and other technological changes formed part of the reason for the decline of feudalism. This transition from feudalism to capitalism began in the West and soon made an impact on the rest of the World. T Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya (Development & Growth: Economic Impacts of Globalization) 12 In 1932 Simon Kuznets, the US economist identified Gross Domestic Product (GDP) to measure the national output of a country within a period. It has continued to be an important indicator to measure economic growth, but it has also been under considerable criticisms. For example; GDP treats resources as income without excluding depletion or depression of the resources. Moreover, GDP has been criticised for disregarding income distribution. Despite all the criticism, GDP has been the most significant indicator of growth and development. With the Post War-II reconstruction of devastated countries and in order to kick-start the World Economy, the state in both developed and developing counties became the important agency to facilitate economic growth. The establishment of the Bretton Woods institutions, the Keynesian model of government intervention and the US implementation of “New Deal” facilitated growth. This was deliberate strategy to reconstruct and create networks of international cooperation. This was pointed out by President Truman in 1949: A program of development based on the concepts of democratic fair-dealing. All countries, including our own, will greatly benefit from a constructive program for the better use of the World's human and natural resources (Truman, 1949). This meant the reinforcement and need to distribute the 'Benefits' of capitalist form of development, more widely, against the planned economy sustained by the Soviet Union. The economist such as Joseph Schumpeter pointed to the possibility that capitalist growth, if it is sustained, could abolish poverty (Schumpeter, 1954, pp66-68). Whilst development meant rapid industrialisation, GDP became a key policy objective for the policy makers and governments around the world, not just in the Soviet Union but the Western Capitalist World, to set targets for their Growth Rate. The end of the Cold War in the 1980s, for some, meant triumph of Neoliberal Capitalism. The others talked of trade liberalization; free movement of capital and the development of information technology, facilitating the relocation of businesses across the world. (Ohmae, 1995). Friedman suggested that globalization is the Inevitable; Integration of markets, nation-states and technologies ... enabling individuals, corporations and nation-states, to reach around the world farther, faster, deeper and cheaper than ever before (Friedman, 1999). Development & Growth: Economic Impact of Globalization (Edited by: Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya) 13 Francis Fukuyama (1992) suggested the new era as ‘The End of History’ through which the ‘Liberal Idea’ triumphed, leading to a new global hegemony. For Fukuyama the only route to modernity, growth and development is the Neo-liberal Democratic path under Global Capitalism. This optimism was not shared by all academics, as Globalization produced poor growth and polarization of wealth: what Collier terms the ‘Bottom one Billion’ (2008). As a result, there has been major criticism of the World Bank and the International Monetary Funds in the second half of the 1990s, especially with the Asian financial and economic crises. The response from these institutions has been vigorous. They continued to believe that liberalization, deregulation, and privatization represent the best way forward for growth and development. With 2008 world recession the World Economy has faced a new challenge. The emergence of powerful economies such as; China, India and Brazil; helped the world economy to grow, at least for now. However, the unevenness of the world economy continues to cause difficulties especially the US as they feeling the threat of their competitors such as China, Germany and even India. The victory of Donald Trump as the S President has represented an ideological shift from free trade advocator of global capitalism to a mixture of right-wing populism. Before and after the presidential election, he called for the revival of the American economy, which has been under considerable pressure since 2008 World Recession. In order to prove growth rate Trump has a huge challenge ahead, not least to deal with the competition from South East Asian economies, especially China. It remains to be seen whether the new US administration will continue with their populist rhetoric In this book, “Economic Impacts of Globalization: Growth & Development”, several academicians provide different analysis of economic growth and economic development. The scientific ethics and responsibility of the works in the book belong to the authors / writers. The book compromises of 15 chapters focusing on economic growth and economic development in the era of globalisation. By taking different angles, they demonstrate different problems and solutions.
Globalization And The Least Developed Countries
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Author : David Bigman
language : en
Publisher: CABI
Release Date : 2007-01-01
Globalization And The Least Developed Countries written by David Bigman and has been published by CABI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Social Science categories.
One of the most notable changes in the world economy during the past three decades has been the diverging trends in the growth of the developing countries. This book examines the opportunities open to the least developed countries as they design their strategies to accelerate growth and alleviate poverty.
Globalization And Its Discontents
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Author : Joseph Stiglitz
language : en
Publisher: Penguin UK
Release Date : 2015-09-24
Globalization And Its Discontents written by Joseph Stiglitz and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-24 with Political Science categories.
From Nobel laureate Joseph Stiglitz, Globalization and its Discontents is the bestselling exposé of the all-powerful organizations that control our lives. Joseph Stiglitz's landmark book lifted the lid on how globalization was hurting those it was meant to help. Many of its predictions came true, and it became a touchstone in the debate. This major new edition looks afresh at the continuing mismanagement of globalization, and how it has led to our current political and economic discontents. Globalization can still be a force for good, Stiglitz argues. But the balance of power has to change. Here he offers real, tough solutions for the future. 'A massively important political as well as economic document ... we should listen to him urgently' Will Hutton, Guardian 'Stiglitz is a rare breed, an heretical economist who has ruffled the self-satisfied global establishment that once fed him. Globalization and its Discontents declares war on the entire Washington financial and economic establishment' Ian Fraser, Sunday Herald 'Gripping ... this landmark book shows him to be a worthy successor to Keynes' Robin Blackburn, Independent
Globalisation And Human Welfare
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Author : Vic George
language : en
Publisher: Bloomsbury Publishing
Release Date : 2017-03-14
Globalisation And Human Welfare written by Vic George and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-14 with Political Science categories.
This thematically structured text offers an ideal introduction to the positive and negative effects of globalization on human welfare in industrial and developing societies. It documents the effects of globalization on economic growth, income distribution, poverty, education, health, social care and the environment. It pays special attention to the effects of globalization on ethnic and gender issues and concludes with an assessment of the possibilities of global social policy. It will appeal to undergraduates in the social sciences both as a basic text and a reference book.
Globalisation And Its Economic Consequences
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Author : Shujiro Urata
language : en
Publisher: Routledge
Release Date : 2021-08-30
Globalisation And Its Economic Consequences written by Shujiro Urata and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-30 with Business & Economics categories.
Given the rising criticisms of and growing doubts about globalisation, this timely edited volume looks at globalisation and its economic impact on eight countries in Asia and the Pacific region, namely Australia, China, Indonesia, Japan, Malaysia, Thailand, the United States (US), and Vietnam. The eight selected countries are members of the Asia-Pacific Economic Cooperation (APEC) forum and yet the economies of these member countries have benefited differently from globalisation. This book summarises findings from existing academic literature in a coherent framework and reviews them critically to provide a balanced analysis. It also identifies the mechanisms through which globalisation impacts economies and explains how understanding of such mechanisms can be useful for formulating policies, which would benefit from globalisation while achieving inclusive economic growth in the context of rising nationalism and protectionism. The Open Access version of this book, available at http://www.taylorfrancis.com/books/10.4324/9781003138501, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.
Measuring Globalisation
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Author : Axel Dreher
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-12-05
Measuring Globalisation written by Axel Dreher and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-05 with Business & Economics categories.
Globalisation is a timely and controversial topic. Against the chorus of globalisation’s proponents and detractors, the authors propose an approach for measuring globalisation and its consequences. Undertaking a comprehensive review of the literature on globalisation and using data from the MGI and KOF indices, the well-respected authors build a framework for defining globalisation and analyzing the relationships among economic, political, and social variables.
Globalization And Development
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Author : José Antonio Ocampo
language : en
Publisher: Stanford University Press
Release Date : 2003
Globalization And Development written by José Antonio Ocampo and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail [email protected].
Globalization Meaning And Scope
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Author : Mashell Chapeyama
language : en
Publisher: GRIN Verlag
Release Date : 2012-07-17
Globalization Meaning And Scope written by Mashell Chapeyama and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-17 with Political Science categories.
Anthology from the year 2012 in the subject Politics - Topic: Globalization, Political Economics, grade: B, University of the People (Business Administration), course: Globalization, language: English, abstract: This compilation of essays on globalization covers a number of issues including the following: impact of globalization globalization and health globalization and communication globalization and the environment globalization and development globalization and human rights globalization and culture culture and diversity, among other topics. Specific examples are provided. For some people with limited knowledge on the concept of globalization this is a good starting point
Globalisation And Its Economic Consequences
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Author : Christina Haring
language : en
Publisher: GRIN Verlag
Release Date : 2004-03-11
Globalisation And Its Economic Consequences written by Christina Haring and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-03-11 with Business & Economics categories.
Seminar paper from the year 2003 in the subject Economics - International Economic Relations, grade: 1,3 (UK-Note: 68(B)), City University London (International Business Economics), language: English, abstract: Today Globalisation is one of the most controversial and widely discussed topics. Even though it is frequently used, there is still no commonly agreed definition of the term. Globalisation stands for a historical process in which the national social, economical, cultural, and political attributes of individual countries geographically expand and melt together. The result is, that behaviour, economic activity, and the distribution of authority and power will change and take on transcontinental character. Since this process has and will have extensive impact on all countries and even all individuals, it is not surprising that there are many supporters as well as many opponents, who have enormously dispersed attitudes towards this topic. The basic discussion is if the process of Globalisation is or was avoidable or if it has to be seen as a natural and desirable result of the political interactions within the last century. The supporters argue that the process will enable us to build up a more efficient and productive global environment, based on the mutual exchange of knowledge and experience, which will finally lead to a prospective and peaceful future. The opponents disagree since they regard Globalisation rather as a threat of democracy, national sovereignty, and equality. They argue that exploitation will increase and that the development will lead subsequently to more poverty and social injustice. In the following study, the consequences will be examined in more detail. Main attention will be paid to the effects on growth and development, income distribution, national labour markets, labour and environmental norms, as well as the effects on national sovereignty. Based on these consequences, potential governmental interventions will be discussed.