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Nobel Prize winner Stiglitz focuses on policies that truly work and offers fresh, new thinking about the questions that shape the globalization debate.
Globalisation is widely seen as a powerful engine that has the potential to promote growth and development. For many years, however, concerns have also been raised about the effects of globalisation on jobs and wages. This has led to questions about the social sustainability of globalisation. Jointly published by the International Labour Office and the Secretariat of the World Trade Organization, with funding by the International Chamber of Commerce, this publication consists of contributions by leading academic experts who analyse the various channels through which globalisation affects jobs and wages. Together, the nine chapters in this volume summarise state-of-the art knowledge on themes related to the social dimension of globalisation. The volume, therefore, represents a step in the direction of a better understanding of the mechanisms through which globalisation affects workers and of the measures that governments can take to give globalisation a strong social dimension. It will be of value to all those who are interested in the debate on the social sustainability of globalisation, including workers and employers, policy-makers, academics, and other trade and labour specialists.
This report has been compiled by the World Commission on the Social Dimensions of Globalization, an independent body established by the International Labour Organization (ILO) in 2002, and whose membership includes international politicians and government advisers from developed and developing countries, academics and representatives of business and multinational corporations, trade unions and civil society organisations. The report explores the social dimensions of globalisation and the need to build a fair and inclusive global economic system, and argues that the dominant perspective on globalisation must shift from a narrow focus on markets to encompass a broader recognition of the needs of people in the communities in which they live. Issues highlighted and recommendations made in the report include: better governance and accountability at both national and international levels to foster productive and equitable markets; empowerment of local communities, including gender equality; sustainable development based on the interdependent pillars of economic, social and environmental development; fairer rules for international trade, investment and finance; measures to overcome inequality and raise capacity to meet the Millennium Development Goals (MDGs); and a stronger multilateral framework based on an effective United Nations.
Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Economic, technological, and political shifts as well as changing business strategies have driven firms to unbundle production processes and disperse them across countries. Thanks to these changes, developing countries can now increase their participation in global value chains (GVCs) and thus become more competitive in agriculture, manufacturing and services. This is a paradigm shift from the 20th century when countries had to build the entire supply chain domestically to become competitive internationally. For policymakers, the focus is on boosting domestic value added and improving access to resources and technology while advancing development goals. However, participating in global value chains does not automatically improve living standards and social conditions in a country. This requires not only improving the quality and quantity of production factors and redressing market failures, but also engineering equitable distributions of opportunities and outcomes - including employment, wages, work conditions, economic rights, gender equality, economic security, and protecting the environment. The internationalization of production processes helps with very few of these development challenges. Following this perspective, Making Global Value Chains Work for Development offers a strategic framework, analytical tools, and policy options to address this challenge. The book conceptualizes GVCs and makes it easier for policymakers and practitioners to discuss them and their implications for development. It shows why GVCs require fresh thinking; it serves as a repository of analytical tools; and it proposes a strategic framework to guide policymakers in identifying the key objectives of GVC participation and in selecting suitable economic strategies to achieve them.
An analytic exploration of whether trade hurts or helps the environment.
Trade liberalization, as promoted by the World Trade Organization (WTO) has become one of the dominant drivers and most controversial aspects of globalization. Trade sustainability impact assessments (SIAs) were introduced as a means of generating better understanding of the social and environmental impacts of trade liberalization and of making those impacts more consistent with sustainable development.
The first comprehensive work on globalization within the context of sustainable development initiatives in Africa.
This book analyzes new forms of capitalism that are manifesting under the pressures of global transformation. By studying economic and environmental indicators in various parts of the world, it seeks to reconcile economic growth with environmental and social sustainability, which is an important issue in both developed and emerging economies. These indicators include the explosive development of digital technologies and new global value chains, which are reshaping economies and societies all over the world. The contributing authors also address the challenge of immigration, the sustainable development transformation, the ties between productivity and social rights, automation and global value chains, the energy transition, and innovation and sustainable growth.