|
| 13938. Financial Globalization: Advantages and Disadvantages for the World Economy. Well-conceived, thorough and detailed study of the meaning of globalization for the world economy, and the individual worker/consumer/ citizen. After an introduction, the first section gives statistics on what has and hasn't happened; economic and trade growth of the last 50 years, but this only brings us back to the level of interdependence of 1913, also where it has happened and why it might not continue to happen. The next section covers the advantages: statistics on high growth rates, theory and history of the advantages of international trade (including such landmarks as stock market deregulation in America and European integration), benefits to consumers, companies and governments, bringing development to Third World, and the dynamic acceleration of benefits from increased trade and competition in the '90's. Then comes a section on disadvantages: quotes from P. Samuelson on when trade does not bring advantages, the problem of the "race to bottom" in wage rates and worker protection with specific examples, problem of boom-and-bust cycles with reference to financial crashes of late '90's, possibility of worldwide recession, loss of control by citizens and governments. Final section summarizes and balances these aspects of globalization to reach cautiously optimistic conclusion. 27 pages, 54 footnotes, 28 bibliographic sources. |
|
$133
|
|
|
