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Globalizing Restricted and Segmented Markets: Challenges to Theory and Values in Economic Sociology

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  • Donald W. Light

    (Center for Migration and Development; University of Medicine and Dentistry of New Jersey)

Abstract

Studies of globalization and immigration will benefit by taking into account the relationship between goals, means, and outcomes. In this article, the author introduces the term pernicious competition as an alternative to the better known concept of market failure to more accurately describe what happens when vital human needs are not efficiently met as a result of global competition. The extended protections of intellectual property in new free trade agreements are an example of market segmentation being used to raise the prices of and reduce access to vital drugs for treating patients with HIV-AIDS. Vital public goods and services should be made distinct from technical public goods so that the dangers of pernicious competition in markets that benefit dominant suppliers or buyers can be identified and the concept of a moral economy can be developed.

Suggested Citation

  • Donald W. Light, 2007. "Globalizing Restricted and Segmented Markets: Challenges to Theory and Values in Economic Sociology," The ANNALS of the American Academy of Political and Social Science, , vol. 610(1), pages 232-245, March.
    • Handle: RePEc:sae:anname:v:610:y:2007:i:1:p:232-245
    DOI: 10.1177/0002716206296960
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    References listed on IDEAS

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    1. Sell,Susan K., 2003. "Private Power, Public Law," Cambridge Books, Cambridge University Press, number 9780521819145.
    2. Wade, Robert Hunter, 2004. "Is Globalization Reducing Poverty and Inequality?," World Development, Elsevier, vol. 32(4), pages 567-589, April.
    3. Sell,Susan K., 2003. "Private Power, Public Law," Cambridge Books, Cambridge University Press, number 9780521525398.
    4. David Harvey, 2007. "Neoliberalism as Creative Destruction," The ANNALS of the American Academy of Political and Social Science, , vol. 610(1), pages 21-44, March.
    5. Hsiao, William C., 1995. "Abnormal economics in the health sector," Health Policy, Elsevier, vol. 32(1-3), pages 125-139.
    6. Jagdish N. Bhagwati, 2004. "In Defense of Globalization: It Has a Human Face," Rivista di Politica Economica, SIPI Spa, vol. 94(6), pages 9-20, November-.
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    Cited by:

    1. Patricia Fernández-Kelly & Douglas S. Massey, 2007. "Borders for Whom? The Role of NAFTA in Mexico-U.S. Migration," The ANNALS of the American Academy of Political and Social Science, , vol. 610(1), pages 98-118, March.

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