Free Economics Dissertations - It Was A Period Of Increasing Economic Nationalism And An Active Government
It was a period of increasing economic nationalism and an active government intervention in all aspects of economic life. However, despite this crash, globalization re-emerged and today it is a major factor contributing towards the social, economic and political policies of the world. This breaking down and then subsequent re-emergence of globalization points to the fact that globalization can be sustained only when the policy which is followed is right and a constant effort and a good leadership is there. Just as in the case of Great Britain and US, when Great Britain weakened, US was reluctant to take its place prior to World War II, that leadership was lacking and the old system collapsed. As Mark Twain said, history may not repeat itself, but it rhymes.
Today, it can be seen that the poor countries have not gained the economic growth which rich nations have gained in the past few decades. Much of this is due to the fact that more variable factors specific to those poor nations bad governance, corruption, war, or other kinds of predatory behavior, are often associated with economic change. However, the break down of economies of the third world countries seems to suggest that globalization does not work well for the under-developed or the developed nations. This is only because of the policies adopted by these nations and the leaderships they have. Those who oppose globalization, oppose it because it is not very attractive to the poor nations.
Conclusion
Sustainable globalization is something which is in every person's interest. It needs to be realized not by being narrow-minded and protectionist, but by designing ways to stay competitive while introducing ways to make the policies of developing countries better and overcoming societies' inequities. People are acutely aware of the need to bring about a balance in all the nations which are part of the process of globalization, which alone can ensure its sustainability.
Bibliography
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Dicken, P. 1998. Global Shift: Transforming the World Economy’ London, Chapman, Pp 14-23.
Henderson, Hazel. Beyond Globalization: www.bfi.org, 16th June, 2005
Mittleman, James. The Globalization Syndrome: www.sociology.emory.edu, 16thJune, 2005
Munck, Ronaldo. Globalization and Social Exclusion: A Transformationalist Perspective. Bloomfield: Kumaria Press.
Pannu, R. 1996. Neoliberal project of globalization: prospects for democratization of education, The Alberta Journal of Educational Research, 42 (2), pp. 88-99.
Ryner, Magnus. Neoliberal Globalization: www.educom.pscw.uva.nl, 16th June, 2005
Soederberg, Susanne. 2004. The Politics of the New International Financial Architecture: Re-imposing Neoliberal Domination in the Global South. London & New York: Zed Books. Pp 10-14.
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