Globalization

Paper Summary:

This paper explains that the reaction of protesters and the enclave mentality of those sponsoring globalization show clearly that this process is not democratic but rather is a gambit for control of the world's resources by the corporate sector. The author points out that power has passed into hands of unaccountable multinational corporations like General Motors, Coca-Cola and McDonald's; and, even where political parties are allowed to compete, they tend to offer identical policies. The paper concludes that the threat to democracy is hard to miss because almost all the checks and balances, such as trade unions versus business interests, which help to reign in the excesses of one group as opposed to another, are being dismantled.

From the Paper:

"The most obvious effect of this process has been to undermine the traditional role of nation-state. All governments now have to gear their economic policies to global developments which they cannot hope to control. Increasingly, they make decisions which are intended to boost the competitive position to their countries in relation to global competitors, e.g.. In Britain, recent governments have recognized that they cannot complete with relatively low cost economies like China, and argue that future prosperity will depend on a highly skilled, well- motivated workforce. Another effect of the changes associated with globalization is a tendency to see the countries of the world as increasingly interdependent. "

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• Research Paper # 75203 : "Concepts and Impacts of Globalization"

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