"Globalization: Neo-liberal Challenge, Radical Responses"

Paper Summary:

This paper reviews and analyzes the views of the author and Dutch economist Robert Went as detailed in his book "Globalization: Neo-liberal Challenge, Radical Responses." In his book, Went attempts to put the phenomenon of globalization in its proper historical perspective, rather than normalizing it as an inevitable and positive development from capitalism's supposed victory over world socialism. This paper also discusses Went's fears that life-threatening ecological deterioration and a pervasive dictatorship of the market will result from globalization. This paper explains and details Went's views on the nature of globalism, which the author contends has fundamentally changed for the worse due to the significant increase in the number integrated global markets.

From the Paper:

"The first of the harms perpetuated by globalization are social inequality. 1960 the average income of the richest 20 per cent of the world's population was 30 times higher than that of the poorest 20 per cent. In 1995 this disproportion between the incomes of rich and poor had grown to 82:1, according to Went. If globalization is allowed to continue in its current form, Went warns that worldwide social inequality will intensify, that there will be a long lasting leveling of lower income and working class wages, and a general worsening of working conditions for all people, all over the world as an eventual result. Went also fears that life-threatening ecological deterioration and a pervasive dictatorship of the market will result from globalization, if the current pace of globalization is not kept in check and its form is not altered."

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