The Globalization Project (1970s – 2000s), Liberalizing Trade and Investments, and Privatizing Public Goods and Services, Has Privileged Corporate Rights over Social Contracts and Redefined Development as a Private Undertaking. Discuss
THE UNIVERSITY OF THE WEST INDIES
Sir Arthur Lewis Institute of Social and Economic Studies
(SALISES)
Course Work Assignment
In Partial Fulfilment of the Requirements for SAL6010: Development Theory and Policy
M. SC. IN DEVELOPMENT STATISTICS
SEMESTER ONE
ST. AUGUSTINE CAMPUS
Name: Adeola Reid
Date: [ Wednesday, 05 December 2012 ]
The globalization project (1970s – 2000s), liberalizing trade and investments, and privatizing public goods and services, has privileged corporate rights over social contracts and redefined development as a private undertaking. Discuss
We must ensure that the global market is embedded in broadly shared values and practices that reflect global social needs, and that all the world’s people share the benefits of globalization (Kofi Annan 2001). Upon viewing this quote from the Noble Prize Laureate, Kofi Annan, it became clear that prior to reading the extensive literature on world development, this author along with the vast majority of people in the world had bought into the false hopes and propaganda presented by multinational institutions on the benefits of development and by extension globalization. The picture painted seemed enticing yet as one searches deeper, the true meaning, the conditionality and the true cost of globalization is realised. The literature has evoked ambivalent feelings which are overpowered by a sense of paralysis to effectively confront future challenges and shape development on a personal as well as national level. At the heart of the statement presented by Mc Michael (2001) which reads: “The globalization project (1970s – 2000s), liberalizing trade and investments, and privatizing public goods and services, has privileged corporate rights over social contracts and redefined development as a private undertaking” is an issue of economics, through which, the development project has been repackaged and rebranded into the contemporary word; globalization. The following pages shall
Sir Arthur Lewis Institute of Social and Economic Studies
(SALISES)
Course Work Assignment
In Partial Fulfilment of the Requirements for SAL6010: Development Theory and Policy
M. SC. IN DEVELOPMENT STATISTICS
SEMESTER ONE
ST. AUGUSTINE CAMPUS
Name: Adeola Reid
Date: [ Wednesday, 05 December 2012 ]
The globalization project (1970s – 2000s), liberalizing trade and investments, and privatizing public goods and services, has privileged corporate rights over social contracts and redefined development as a private undertaking. Discuss
We must ensure that the global market is embedded in broadly shared values and practices that reflect global social needs, and that all the world’s people share the benefits of globalization (Kofi Annan 2001). Upon viewing this quote from the Noble Prize Laureate, Kofi Annan, it became clear that prior to reading the extensive literature on world development, this author along with the vast majority of people in the world had bought into the false hopes and propaganda presented by multinational institutions on the benefits of development and by extension globalization. The picture painted seemed enticing yet as one searches deeper, the true meaning, the conditionality and the true cost of globalization is realised. The literature has evoked ambivalent feelings which are overpowered by a sense of paralysis to effectively confront future challenges and shape development on a personal as well as national level. At the heart of the statement presented by Mc Michael (2001) which reads: “The globalization project (1970s – 2000s), liberalizing trade and investments, and privatizing public goods and services, has privileged corporate rights over social contracts and redefined development as a private undertaking” is an issue of economics, through which, the development project has been repackaged and rebranded into the contemporary word; globalization. The following pages shall
References: Benn, Denis. “Development Policy: Changing Perspectives and Emerging Paradigms.” Framework for Caribbean Investigation and Analysis. Port of Spain: ECLAC, 2004. 1-22. Demas, William G. CRITICAL ISSUES IN CARIBBEAN DEVELOPMENT: West Indian Development and the Deepening & Widening of the Caribbean Community. Kingston 6: Ian Randle Publishers, 1997. Dietz, James L., and James M. Cypher. The process of economic development. 3 rd. New York: Routledge, 2009. Friedman, Milton. “John Maynard Keynes.” Federal Reserve Bank of Richmond Economics. 1 September 1997. www.richmondfed.org (accessed October 22, 2012). Logan, B. Ikubolajeh. Globalization, the Third World State and Poverty-Alleviation in the Twenty-First Century. Burlington: Ashgate Publishing Limited, 2002. Mc Michael, P. Development and Social Change. 4 th Edition. LA: Pine Forge Press, 2008. Meier, Gerald M. “Modern Economic Theory and Development.” In Frontiers of development economics: the future in perspective, by Karka Hoff and Joseph E. Stiglitz, 10 - 71. Washington D C: World bank, 2001. The World Bank. World Development Report 1979. Economic Development, Washington DC: Oxford University Press, 1979. The World Bank. World Development Report 1991 - The Challenge of Development. Economic Development, Washington DC: Oxford University Press, 1991. Todaro, Michael P., and Stephen C. Smith. Economic Development. Washington: Prentice Hall, 2011. Wang, Guigo. “The Impact of Globalization on State Sovereignty.” Chinese Journal of International Law, 2004: 3/2: 473 - 483.