Globalization Essay Example | Topics and Well Written Essays - 1250 words - 1

Globalization - Essay Example As a result of the hard hitting Washington Consensus [—the West’s interest-serving set of socio-economic and political prescriptions, for instance], it is quite obvious that the world’s poor have surrendered a huge chunk of their sovereignty to the powerful global forces, which apparently, are at constantly at work circumscribing their spheres of action (Dreher 1092). The resurgence of Adam Smith’s laissez faire economics is today more of a reality than it was then; seldom since the nineteenth century’s heydays of free trade has this theory galvanized such certainty; certainty that has also been far removed from the realities on the ground. Quite frankly, all [scholars] are entitled to personal opinions, for globalization is but a multifaceted concept that encapsulates changing fortunes [both for the rich and the poor], but with a convincing conviction that deregulated markets and the accompanying elements creates super-humans who earn their lifesty les even by the most despicable moves that includes but not limited to taking the world’s poor six feet under. ... nd than going global is but a better way of encouraging higher standards; that apart from the increased overall quality of goods and services due to the increased competition, the development of information technologies has enabled crucial knowledge enhancing exchanges between nations, the poorest included. More importantly, it has availed the hitherto unavailable access to foreign capital in addition to advanced technology and subsequent export markets, thus breaking the jinx of the old, domestic monopoly production approaches riddled with wasteful inefficiencies (Osland 137-138). Martens and Raza notes that globalization has added a great deal of impetus to the world’s economic growth, without which the population of the worlds’ poor would be much greater, and in even much deplorable circumstances without the advances that has secured a stream of food supply for the world poor that know less of family planning even at their states of affairs (281). It is, however, unf ortunate that while globalization is credited for the significant improvements above across the globe, the global nature tendencies of the same forces have destroyed lives in equal measure, perhaps even worse than the benefits. A carefully designed process whose control is a tightly knit affair in the hands of the transnational corporations (TNCs) suspended by the governments of wealthy industrialized nations, the interests of the world’s poor seems to have been relegated to the periphery. With capitalist mindsets driving the disproportionate allocation of resources globally, capital movement, exchange, revenue, structural adjustment and interest seem to be the trending terms, yet sinking the disadvantaged by taking away even the very little in their custody. Indeed, it is; for never in history has