1 / 8

Mano a Mano

Mano a Mano. Overview of Stiglitz (chs. 1-2). Promise of globalization (“prosperity for all”) has failed Unbalanced outcomes within and between nations (“rich countries and poor people”) Globalization has unified people against globalization – “They’ve got a point!”

nhu
Télécharger la présentation

Mano a Mano

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Mano a Mano

  2. Overview of Stiglitz (chs. 1-2) • Promise of globalization (“prosperity for all”) has failed • Unbalanced outcomes within and between nations (“rich countries and poor people”) • Globalization has unified people against globalization – “They’ve got a point!” • Stiglitz will tell us how to make globalization work

  3. Specific Indictments • Rules of conduct unfair and favor developed countries (DC) • Material values over “social” values • Eroded less developed countries (LDC) sovereignty and undermined democracy • Some winners, many losers • “Anglo-American economic model” forced on LDC

  4. Making Globalization Work • Poverty reduction with more gradualism • More aid and debt relief, fewer conditions • New trading rules since trade and growth has not worked • More capital market controls (“hot money”) • More environmental protection • Address failed global governance

  5. Nation States and Globalization • Isolation to autarky not unfettered capitalism – large role of government • Autarky to globalization undermines role of government and ability to create institutions in LDC • Need global agreements/governance to solve problems created by globalization • Current institutions are failing because…

  6. The Wasington Consensus • Obsession with free markets and total GDP • Smaller government • Privatization • Free international trade • Free international capital markets • Deregulation • ASSUMES: perfect information, perfect competition, perfect risk markets

  7. The Stiglitz Approach • “Comprehensive approach” • Proactive, highly interventionist government for development • More equity and protection for the poor • Emphasis on education • Emphasis on community • Assumes failure of Washington Consensus assumptions

  8. The Evidence • East Asia – Stiglitz grade: A+ • Latin America – C • Africa -- D • Sub-Saharan Africa -- F • Russia & “transition economies“ – F-

More Related