Uncategorized

Economists Tell the Poor: ‘You’re doing better, feeling worse’

Globalization Has Helped Poor, Study Says: “Far from creating poverty as critics claim, rapid globalization of the world economy has sliced the proportion of abject poor across the planet, according to a controversial new study released on Monday.

It says that freer commerce, epitomized by the cutting of tariffs and the lifting of trade barriers, has boosted economic growth and lifted the incomes of rich and poor alike.” Reuters This may miss the point of the anti-globalization movement, which is only partly about the material costs to the world’s poor of the spread of Western-multinational-dominated capitalism. How about the spiritual impoverishment of the growth of homogeneous consumerism and the growing global reach of corporations to rape the environment and the biosphere? It also seems absurd to dismiss the relevance of evidence that the gap between the world’s richest and poorest is growing by suggesting that it is ‘only’ Africa that lags behind. Blaming the victim: “Whether the disastrous African performance is due to insufficient globalization on the continent or whether Africa’s weak governance, low education levels and fragmented civil society put the opportunities of globalization out of reach is almost impossible to tell,”says the report.