Globalization Debates
It is hard to disagree that globalization is one of the most popular and essential concepts in modern times. People are told that globalization leads to numerous advancements and benefits for businesses and individuals, contributing to lower costs, stronger global competition, and growing economies. However, there are certain contradictions in the discussion of this phenomenon, and Joseph E. Stiglitz (2003) and Noam Chomsky (as cited in CSC302, 2006) mention these inconsistencies in their works.
Stiglitz’s Perspective
To begin with, Stiglitz (2003) indicates that the predicted advantages of globalization have been achieved, but then turned out to bring unexpected harm or adverse effects. For example, the author suggests that “globalization has reduced the sense of isolation felt in much of the developing world and has given many people in the developing countries access to knowledge” (Stiglitz, 2003, p. 2). At the same time, the writer immediately states that this sense of connectedness allowed people to organize protests against some aspects of this process.
Further, the author finds controversy in the work of the International Monetary Fund (IMF) and similar organizations. Thus, “the IMF was based on a recognition that markets often did not work well, that they could result in massive unemployment and might fail to make needed funds available to countries to help them restore their economies” (Stiglitz, 2003, p. 6). Nevertheless, it now champions the supremacy of the markets, failing to refer to its original ideology.
Chomsky’s Attitude
Concerning Chomsky’s views, the speaker also mentions some controversial features of globalization. According to him, while it was intended to help minorities and disadvantaged communities, it often worsens their lives (CSC302, 2006). An example relating to businesses is that globalization sought to enhance the free circulation of labor (CSC302, 2006). However, it is now much lower than it was a century ago. Therefore, globalization does not achieve all its goals because controlling organizations and people fail to stick to its original values.
References
csc302. (2006). Discussion on globalization [Video]. YouTube. Web.
Stiglitz, J. E. (2003). The promise of global institutions. In Globalization and its discontents. W. W. Norton & Company.