Globalization & Markets & the Changing E

Recent years have seen closer integration of countries around the world, with increased flows of goods and services, capital and knowledge. There are two alternative views concerning globalization: one, reflected in the protest marches from Seattle to Genoa, argues that globalization has hurt the poor, has been bad for the environment and is governed by undemocratic institutions operating behind closed doors, advancing corporate and financial interests of the more developed countries. The other argues that globalization is the only means by which developing countries will be able to grow and eradicate poverty. This course tries to enhance understanding of these alternative perspectives. It analyzes the underlying forces that have led to globalization and identifies its effects, particularly in developing countries and when and why it has had the adverse effects that its critics claim and when and why it has had the positive effects that its proponents argue for. It also examines the need for international collective action, discusses the structure and conduct of international economic organizations and assesses the extent to which they are to be blamed for the failures of globalization or should take credit for its successes. The course ends with a discussion of alternative reforms of the global economic architecture."