Making Globalization Work For All

By: EconomyWatch   Date: 14 October 2010

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‘Making Globalization work for all’ is basically a universal concept, which offers Globalization a human face. ‘Making Globalization work for all’ means that the process is good and healthy among equals, but when there is inequality, it is the poor which suffers most. So the challenge faced by the political leaders and scholars is to reduce the controversial and troublesome aspects of Globalization and increase its beneficial aspect, especially for the developing nations.

According to this particular concept of Globalization, the states have important roles to play in a totally integrated and globalized world. In democratic social and political set-ups, people’s expectations from the government is restricted only to meeting their basic economic and social requirements. Partially, this responsibility is taken over by the emerging private sectors who ensure financial affluence to new generations of experts, entrepreneurs and labors or the working classes. Under such circumstances, the government is also expected to start-off a wide variety of services including basic education and medical facilities, environmental protection, public healthcare system, etc.

For the government to offer such services to the population, it is required on the part of the Nation State to activate and organize the available administrative and financial resources simultaneously. Moreover, the flow of private capitals from the developed to the developing, weak nations will increase popular expectations for the government to invest in public commodities. In fact, Globalization focuses more on the logistics and monetary services and on the movement of commodities and funds as well.

Under Globalization, the economically developed nations are heading towards more restrictions imposed on migrations and labor movements. This is not at par with the theory of Globalization which emphasizes free flow of merchandized trade and capitals.

Even till date, Globalization in the field of trade and commerce is yet to gain momentum and become more developmental in nature. One should find ways through which commercial aids ensure globalization work for all. This is in fact, a challenge lying before the management of the developed world in present times to bring about universal economic welfare for world population.



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