Despite globalization’s promise to interconnect the world; global decisions, policies and practices can be detrimental. This is primarily because these decisions are driven by the western world, including leaders of wealthier countries or global actors. The leaders of government make impending decisions based on their opinions, including spending majority of countries wealth on weaponry for war. Statistics show that less than one per cent of what the world spent every year on weapons was needed to put every child into school by the year 2000 and yet it didn’t happen (State of the World Report, Feb 1997). Global decisions and policies as a driver of poverty, faces incomplete and contradictory knowledge with a number of people and opinions involved, confirming it to be a wicked…
Lee, E., Vivarelli, M. (2006). The Social Impact of Globalization in the Developing Countries. Available: http://ftp.iza.org/dp1925.pdf. Last accessed 13/12/2011.…
Trade routes and trade organizations have had an extensive impact on the worlds’ nations and regions. Many effects both negative and positive. Two trade organizations that have made a great impact are the organization of the petroleum exporting countries (OPEC) and the trans-Saharan trade routes of African kingdoms.…
Palley, T.A. (2003). After Cancun: Possibilites for a New North – South Grand Bargain on Trade. Policy Discussion Paper, Open Society Institute, Washington D.C. Robinson, M (2000). Universality and Priorites, UNDP Human Development Report, Oxford Rowthorn & Ramaswamy (1997) Growth, trade and deindustrialisation, IMF Working Paper WP/97/42, IMF Washington D.C. Singh, A., and A. Zammit (2000) The Global Labour Standards Controversy: Critical issues for Developing Countries. South Centre. Singh, A. (2003). Income Inequality in Advanced Economies: A Critical Examination of Trade and Technology Theories and an Alternative Perspective. In Ghosh, and Chandrasekhar, 2003. Singh, A. (2003a). Special and Differential Treatment, the Multilateral Trading System and Economic Development in the 21st Century. ICSTD, http://www.ictsd.org/dlogue/2003-05-06/Singh_S&DT_final.pdf Singh, A. (2002). Aid, Conditionality and Development. Development and Change, Vol. 33, No. 2. Singh, A. (2000). Global Economic Trends and Social Development. United Nations Research Institute for Social Development, Geneva. Singh, A (1999). Global unemployment, growth and labour market rigidities: a commentary. In Perspectives on Globalisation and Employment, United Nations Development Programme, Discussion Paper Series. Singh, A. (1997). Liberalisation and Globalisation: An Unhealthy Euphoris. In Employment and Economic Peformance, ed. J. Michie and J. Grieve-Smith. Oxford University Press. Oxford. Singh, A. (1995). Institutional Requirements for Full Employment in Advanced Econoies. International Labour Review. 134 (4-5), 471-96. Singh, A. and Nirvikar (2003). The Impact of International Labor Standards: A survey of Economic Theory, Chapter 2. International Labour Standards, History, Theory and Policy Options. (eds. Kaushik, B., H. Horn, L. Roman, and J. Shapiro), Blackwell Publishing. 2003. pp 105-181. Slaughter M.J and Swagel P (1997). Does Globalisation Lower wages and Export Jobs? Economic Issues 11, International Monetary Fund, Washington D.C. Srinivasan, T.N (2003). Commentary 2.1. on Singh, Nirvikar. The Impact of International Labour Standards: A Survey of Economic Theory. Chapter 2 International Labour Standards, History, Theory and Policy Options. (eds. Kaushik, B., H. Horn, L. Roman, and J. Shapiro), Blackwell Publishing. pp 182-186.…
Hirst, Paul and Grahame Thompson (1996), Globalization in Question, Cambridge: Polity Press. United Nations Development Program (UNDP) (1997) “Human Development Report 1997”, New York: Oxford University Press.…
’’Economic development is the acknowledged answer to absolute poverty and other issues that are related to the well being of one nation. But, what is development, and in what ways do we recognize it when it is performed?…
In order to devise an accurate and informative response to the essay question we must first understand the concept of globalisation. Globalisation is about what is happening to economies on a world scale. Although the idea is not often clear, everyone who talks about the concept recognises that the countries of the world tend to divide into two groups: those with developed economies and those that are sometimes referred to as developing countries. The economically developed countries have modern industries and technologies (the U.S, Japan and the countries of western Europe). The developing countries (most of Asia, Latin America, and Africa) have more lower incomes and large groups of impoverished people, especially peasants. However some countries are in between and have characteristics of both kinds of economies (for example, states of the former Soviet Union and Eastern Europe).…
WASHINGTON: The rise of developing countries is transforming the global economy. Whereas for the bulk of the world’s population economic stagnation has been the rule over millennia, today’s economic growth is unprecedented. More countries – and people – are achieving rapid income growth than ever before, and developing countries are rising in the ranks of the world’s largest economies.…
These had the explicit purpose "to shift the focus of development economics from national income accounting to people centred policies". A simple composite measure of human development was needed in order to convince the public, academics, and policy-makers that they can and should evaluate development not only by economic advances but also by improvements in human well-being.…
Governments the world over have long been investing in infrastructure in the hope of boosting economic development of their country. To study the relationship between infrastructure and economic development, we compared two journals; Infrastructure and Local Economic Development by Rives, J & Heaney, M. (1995) and Infrastructure and Economic Growth: The Nigeria Experience 1980-2006 by Enimola, S (2010). We chose these journals as the journal by Rives, J looked at the approach on a community/state level whereas the journal by Enimola, S looked at it at a national level. Hence, we were able to look at the topic at a micro and macro level. We compared the objectives of both journals, along with the methodological approach, definition and calculation method. We also studied the results of the study in the journals and compared the effect of different variables on economic development.…
A process of social and economic advancement in terms of the quality of human life.…
A developed country, industrialized country, or "more developed country" (MDC), is a sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living.[1] Which criteria are to be used and which countries can be classified as being developed are subjects of debate.…
According to an article by the World Bank, recent United Nations documents describe development as “human development,” measured by life expectancy, adult literacy, access to all three levels of education, as well as people’s average income, which is a necessary condition of their freedom of choice. It is true that economic growth, by increasing a nation’s total wealth, also enhances its potential for reducing poverty and solving other social problems.…
In this form of integration, the parties involved levy lower rates of duty on goods…
Economic development has been influenced by four different major theories that talk about how change is best accomplished. The theories are the Linear Stages of Growth theory, the Structural Change theory, the Neoclassical Counter Revolution theory and the New Growth theory.…