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March 12, 2009

Globalisation & Diversity – week 3

Joseph Stiglitz – three examples of ‘Anti-Globalisation’

If the tenants of ‘Globalisation’ were based upon the democratic ideals of the “The Atlantic Charter” (1941) concerning economic trade for all states and for all people on equal terms, then ‘Anti-Globalisation’ might be initially interpreted as the antithesis of those ideals. However, the Anti-Globalisation movement that Joseph Stiglitz has often been associated with is not against globalisation as such but rather against what he, and others, see as the lack of democracy in current global economics:

1.  International Monetary Fund (IMF) and World Bank: Stiglitz is an opponent to what he describes as flawed governance in these undemocratically elected institutions; yet they impose conditionality on aid to non-democratic governments.

2. Free Trade: Developing nations are encouraged to deregulate their markets, strengthen economic discipline, open up to free trade and implement privatisation while richer nations still maintain high tariffs to protect their own interests at the expense of the poorer nations. Stiglitz says that the richer nations should be helping the poorer nations develop their own markets before opening up to international trade.

3. Trade Sanctions: Trade sanctions might be viewed as going against the grain of open markets and free trade; however Stiglitz sees such sanctions as the best way to fight global warming. This would ensure emissions compliance with all countries, including the United States, who did not sign the Kyoto protocol.

References:

Fawcett, N. Omtzigt, D-J., & Perkins, J. (2006). A conversation with Joseph Stiglitz. Retrieved March 11, 2009, from http://www2.gsb.columbia.edu/faculty/jstiglitz/download/2006_Oxonomics.pdf

Coy, P. (2006.) Free Trade Can Be Too Free. Retrieved March 11, 2009, from http://www.businessweek.com/print/magazine/content/06_27/b3991076.htm?chan=gl

Rosenman, S. (Ed.) (n.d.). Public Papers and Addresses of Franklin D. Roosevelt, vol.10 (1938-1950), 314. Retrieved March 2, 2009, from http://usa.usembassy.de/etexts/democrac/53.htm

Kingsbury, A. (2006). The World is Not Flat. Retrieved March 11, 2009, from http://www.usnews.com/usnews/news/articles/060910/18qa.htm

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