The Globalisation Debate: A Case of Barking up the Wrong Tree

The debate on the advantages and disadvantages of 'Globalisation' has been going on for many years. Laymen and experts alike are divided whether the process will result in more or less welfare for humanity. Even though the benefits are obivous, especially for consumers, there seems to be much attendant pain. We often hear of plant closures or massive job-associated with economic crises, environmental damage, erosion of sovereignty and cultural dilution. Moreover, opinions over the issue of globalisation can be very intense and emotional as manifested by the violent street demonstrations that regularly accompany WTO and IMF meetings. Unoftunately, the picture on the net benefit or loss as a consequence result of globalisation is as unclear as ever. As a result, policy-makers are unsure whether the process needs to be encouraged or curtailed.

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