The Globalization Project in Crisis
The Milleonnial Reckonings Purpose of Globalization project
The globalization project is about market integration, legitimacy management and resistance
The Globalization Project in Crisis
While the globalization project still shapes development initiatives and policies, there are signs that its claim (and ability ) to represent the most rational development path is eroding.
The arrival of structural adjustment policy in the global north in the twenty first century raises some key questions, which are:
• What does structural adjustment means for northern development?
• Does this differentiate between “developed and developing?
• Does the crisis of globalization project signal the beginning of a transition towards a new project?
Legitimacy Crisis: the development project started with the aim of poverty alleviation, and at the end of the twentieth (‘’development ‘’) century, it became clear that development was not working. It was facing a legitimacy crisis. This crisis brought about the United Nations coordinating a response in form of the Millennium Development Goals (2002)
Aim of the Millennium Development Goal
• Halving the world hunger by 2015
• Halting the spread of HIV/AIDS
• Addressing gender inequality
• Providing universal primary education
Despite a general reduction in the proportion of the world’s population living in absolute poverty (the ‘’china effect’’), there has been a widely observed expansion of global inequalities between and within countries: The worlds rich benefited disproportionately from global growth over the 1990s and the per capita consumption of the poor increased at only half the average global rates. The legitimacy crisis is doubly expressed in the refusal, or inability, of the development agencies (MDGs) to address global inequality.
Financial Crisis
Severe financial downturn in (2008) was a signal crisis of the era of ‘’financialization.’’ Financialization which means investment shifts into financial
The globalization project is about market integration, legitimacy management and resistance
The Globalization Project in Crisis
While the globalization project still shapes development initiatives and policies, there are signs that its claim (and ability ) to represent the most rational development path is eroding.
The arrival of structural adjustment policy in the global north in the twenty first century raises some key questions, which are:
• What does structural adjustment means for northern development?
• Does this differentiate between “developed and developing?
• Does the crisis of globalization project signal the beginning of a transition towards a new project?
Legitimacy Crisis: the development project started with the aim of poverty alleviation, and at the end of the twentieth (‘’development ‘’) century, it became clear that development was not working. It was facing a legitimacy crisis. This crisis brought about the United Nations coordinating a response in form of the Millennium Development Goals (2002)
Aim of the Millennium Development Goal
• Halving the world hunger by 2015
• Halting the spread of HIV/AIDS
• Addressing gender inequality
• Providing universal primary education
Despite a general reduction in the proportion of the world’s population living in absolute poverty (the ‘’china effect’’), there has been a widely observed expansion of global inequalities between and within countries: The worlds rich benefited disproportionately from global growth over the 1990s and the per capita consumption of the poor increased at only half the average global rates. The legitimacy crisis is doubly expressed in the refusal, or inability, of the development agencies (MDGs) to address global inequality.
Financial Crisis
Severe financial downturn in (2008) was a signal crisis of the era of ‘’financialization.’’ Financialization which means investment shifts into financial