Globalization as a corporate-led process has come under much justifiable criticism. This paper attempts to give the term analytic content distinct from its more ideological formulations.. It then focuses on a normative analysis of globalization from the capabilities perspective. A freedom-centered perspective such as the capabilities approach emphasizes policies and institutions that can enhance freedom globally and locally. A global governance structure based on transparent principles of both economic efficiency and social justice is shown to be a desirable state of affairs; however, the present fractured process of globalization is more likely to end up in a fragmenting regionalism or even national protectionism and rivalry. Multilateral cooperation on the basis of the framework advanced here is an urgent necessity.To this end the creation of international regimes of cooperation in areas ranging from trade and finance to ecological and women's and minorities rights issues must be put on the international and national social and political agendas
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
7864.
Find related papers by JEL classification: F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission F15 - International Economics - - Trade - - - Economic Integration D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances F59 - International Economics - - International Relations and International Political Economy - - - Other F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
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