Summer 2019 POL 241 Chap 13- Branko Milanovic, “The Two Faces of Globalization: Against Globalization as We Know It”


Elayne Guzman

Chap 13- Branko Milanovic, “The Two Faces of Globalization: Against Globalization as We Know It”
Quote:
“The left view, regards globalization as a malignant force that leads to child labor in the South and takes away middle-class jobs in the North… today’s globalization is led by a triumphant, and often unbridled capitalism. Unbridled capitalism does produce the effects of which the Left complains; destruction of environment, obliteration of indigenous cultures and exploitation of the weak”

Meaning/Chosen:
    There is no question that globalization has been a good thing for many developing countries who now have access to our markets and can export cheap goods. Globalization has also been food for multi-national corporations and Wall Street. But globalization has not been good for working people (blue or white collard) and has led to continuing de- industrialization of America. The general complaint about globalization is that has made the rich richer while making the non-rich poorer. It is wonderful for managers, owners and investors, but hell on workers and nature. Globalization is supposed to be about free trade where all barriers are eliminated but there are still many barriers. The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries. Workers in developed countries like the US face pay-cut demands from employers who threaten to export jobs. This has created a culture of fear for many middle class workers who have little leverage in this global game.
   Large multi-national corporations have the ability to exploit tax havens in other countries to avoid paying taxes. Building products overseas in countries like China puts technologies at risk of being copied or stolen, which is in fact happening rapidly.


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