The textbook argues that globalization is a beneficial practice as it has brought wealth and prosperity to enough individuals that it outweighs its negative aspects. The greater good offsets the negative impacts globalization causes in developing countries, especially in regard to economic practices. Economic globalization has been accomplished through the methods and ideology of neoliberalism. Neoliberalism is an economic ideology that removes the role of the state from the market and allows market forces to dictate economic rules and cycles. However, the monopoly use of this ideology can be problematic. For one, neoliberalism ideology has been implemented through the “savior” efforts of the IMF and World Bank. By forcing this one ideology onto the majority of countries and penalizing those who defect, such as Cuba or Venezuela, there is no diversity in economic policy. This lack of diversity stunts human progress as alternative methods are not being tested or used in a practical capacity. Thus, alternative, possibly better methods for growing and maintaining a thriving economy are unexplored. Additionally, neoliberalism has created lobbyist corruption within countries, especially the United States. Multinational corporations often fund and support political leaders in order to prioritize their agendas. In turn, representatives prioritize corporation interests over the American peoples in order to gain monetary support or jobs after serving. Though this is legal it disrupts the proper functioning of a representative government. Neoliberalism has also contributed to the exploitation of developing communities across the globe. Without government regulation many corporations employ poor workers for cents a day, many times even utilizing children. However, the efficiency of the world market takes priority, and these issues are overlooked, as the textbook points out, because the developed world becomes richer. These issues are ones of many that proponents of No-Logo are trying to address and bring awareness to in the current political climate.
1 comment:
I really like your point about how neoliberalism strangles the possible growth of other economic policies. On the one hand, you can consider that it's "winning" by being so dominant. That sort of strangle-hold doesn't make many friends, nor does it leave a lot of options. Especially since it wears the face of the west/U.S., that leaves a few people to turn to. In the case of a lot of African countries, that's China. China has a invested a lot of money into African countries, there's even a "Forum on China Africa Cooperation"(FOCAC) which I believe was created in the early 2000s. I could be wrong, but I don't believe that China is forcing any economic policy on these countries, but mainly letting them fall into debt with China. I disagree with your point on corruption, I think that's going to spring up anywhere regardless of what economic policies are in place. You do have a good point with corporations though - I think the textbook even has a line about neoliberalism enriching CEOs more than other systems, like in Europe (before it became the dominant policy).
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