Who are the 'winners' and 'losers' in globalization Essay

Who are the 'winners' and 'losers' in globalization - Essay Example the article concludes that the prospects for a satisfactory synthesis of a liberal economic theory of globalization, a normative political theory of the global public domain, and a new social bond are remote"( Devetak & Higgott 1999). Largely looking in terms of distribution of economic benefits of globalization it can be surmised that entrenched vested interests and inequalities have remained or even worsened. These inequalities, by themselves, would make any concept of global polity, economy or social bond from arriving in synthesis for maintenance of global social order. We examine the extent of inequalities below. Again in a slightly different context Phillip W.Jones makes a statement which is extremely relevant to the definition of globalization in present context. Jones states that," The logic of globalization contrasts markedly with that of internationalism. The latter, with its intrinsically democratic foundation, looks to a world ordered by structures supportive of that functionalism which is embedded in accountability. Globalization, by contrast, implies few logical imperatives in favour of accountability, but rather looks to the pursuit of interest on the global level through the operation of unfettered capitalism"(Jones,1998). Examining the globalization context from economic point of view prima facie capitalist motives of profits appear predominant. New technological developments, improvements in communication, growth in transnational infrastructure and liberalizing of trade and capital flows have enabled entrepreneurs the globe over to deploy and run their capitals chasing markets the globe over. The globalization aligned attitudes of IMF and World Bank are exemplified with clarity by Jean-Claude Trichet, President of the European Central Bank, when he says that," The key aim of today's policy makers has not changed compared to those at the Bretton Woods times - it has been, and still is, global prosperity and stability - but the environment in which we are acting has changed profoundly......Today we are striving for stability of the international financial system in a world of free capital flows with a growing importance of private flows and increasing trade and financial integration"(Trichet, 2004). As Roby says," world-wide output and trade have grown apace with market openings and the rise of efficient global business networks these past 15 years. An entrepreneurial class is energizing once-stagnant command economies" (Roby, 2005). It is at once apparent that this 'entrepreneurial class' is essentially limited in number the globe over. They also have limited spheres of influence. Consider for instance, the pharmaceuticals giant Astra Zeneca (AZ) has multinational operations and employs just about 65000 employees globally (Annual, 2004). Such instances abound in almost all industrial and commercial sectors where spread and success have been limited. Has AZ been able to provide cheap drugs to global population-perhaps no. We perhaps need more global entrepreneurs in each activity to raise