Economic Globalization: Pros & Cons

Economic globalization refers to the increasing integration of national economies across the world through intensified cross-border movement of goods, services, technology and capital. Some view it with trepidation, as a juggernaut of untrammeled capitalism marked by such economic interdependence that countries become even more vulnerable to the destructive impact of market shifts. To others, it is a powerful force for good that opens and modernizes societies, empowering consumers and challenging producers; spurring economic efficiency and thus prosperity; undermining national monopolies and promoting innovation; redistributing capital, skills and know-how from rich to poor countries; and encouraging the adoption of better practices in many fields of endeavor and policy. We will read and debate a variety of authors from different disciplines to understand these opposing views and potential solutions to the economic, financial, and related challenges that have arisen.