Globalisation vs

Abstract

This chapter expresses views prompted by my experience as Specialist Adviser to the UK's House of Lords in their enquiry on globalisation. The un-stated issue was: are the critics of globalisation correct? This paper argues that the critics should be seeking ways of bringing the benefits of globalisation to the poorest countries, not attacking globalisation, which is a necessary, and largely desirable, consequence of the wish for economic development and growth. The key to growth is education (i.e. human not physical capital) and good governance. Inward finance promotes development but tends to go to developing countries that can make best use of it through having an educated labour force and good governance. The critics emphasise trade barriers imposed by developed countries, but the main barriers come from developing countries themselves. Extreme poverty is the greatest immediate concern As this and would be relatively inexpensive to eliminate by aid alone, economic development is necessity. Significantly, countries with the most poverty are also those with the highest inequalities of income.

Citation

Wickens, M. (2006), "Globalisation vs", Laible, J. and Barkey, H.J. (Ed.) European Responses to Globalization (Contemporary Studies in Economic and Financial Analysis, Vol. 88), Emerald Group Publishing Limited, Leeds, pp. 195-222. https://doi.org/10.1016/S1569-3759(06)88009-5