Globalization

Running head : GLOBALIZATION AND ITS DISCONTENTS and its DiscontentsJoseph E . Stiglitz on the Problems and future day of [Name][Institution][Date] and its Discontents is a timely , although arguably a belated momentant role to the myths of sphericization with regard to myriad promises of development and economic exploitation left un true(a)ized . It looks critically into the flipside scenarios as a result of the indiscriminate and blind application of economic nostrums purported as a cure-all to the problems of poverty and inequality of developing nations . Written from the dependable first- dedicate experiences accruing over the past decade Joseph Stiglitz , once economic adviser to the Clinton Administration and chief economist and senior vice chairman of World Bank , adumbrates the disparate impacts of globalization . On the unrivaled hand , nations who argon able to cope with the demands of inter subject area contest have benefited from such policies to the point that what would have new(prenominal)wise took decades barely became a question of years and months . On the other hand , nations who fail to meet the exacting standards of international markets are set to the wall with compromise agreements that are detrimental to their sovereign interests in that locationby only exacerbating their impoverished economic conditions and its attendant global economic policies have gained persuasive force in the lastly half of the 20th century largely because of their potential baron to jumpstart economies of poor countries as well as champion a fair status quo among the highly industrialise and true nations . Its main proponents , namely the G-7 : United States Japan , Germany , Italy , United king , Canada , and France , have assured the manifold positive impacts to the economy by rescinding the national barriers and allowing free-access to local patronage (Stiglitz , 2002 . The purpose of which is to muster national economies into an integrated and universal system of trade and finance institutions where nations organize their policies to a set standard .

This is in relation to the policies of industrialized nations who have been successful in implementing them Such policies are found on several variants of economic theories which supposedly should work if the methods are applied strictly . Upon the closer integration of countries and peoples of the world , there are substantial reduction of costs and expenses , the breaking trim back of artificial barriers to the flows of goods , services , capital and knowledge (Stiglitz , 2002From a freehanded based concept of template solutions , nations that have lagged economic-wise are pitch under the tutelage of industrialized nations and are guided in accordance to methods that are theoretically effective . In other words , there are presumptions in the principles of development world applied indiscriminately over nations who are either not ready to keep up with the pace or their extant systems are not compatible with the suggested policies . Stiglitz avers that for the most part the real conditions of globalization as applied are nothing barely forcibly fixing square pegs on round holes (2002 . on that point are scenarios of misfits and incongruent applications because those that encourage free trade and trade liberalization usually shelve in their interests...If you want to add a full essay, order it on our website: Ordercustompaper.com

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