Saturday, September 09, 2006

We have become rich countries of poor people. A Librarian at the Kitchen Table. No. 403.

Joseph Stiglitz, Nobel Laureate in Economics (2001) writes in the September 8, 2006 issue of Financial Times:

There were once hopes that globalisation would benefit all, both in advanced industrial countries and the developing world. Today, the downside of globalisation is increasingly apparent. Not only do good things go more easily across borders, so do bad - including terrorism. We see an unfair global trade regime that impedes development and an unstable global financial system in which poor countries repeatedly find themselves with unmanageable debt burdens. Money should flow from the rich to the poor countries, but increasingly, it goes in the opposite direction.

Read the entire essay.

1 comment:

aldrin said...

Globalization is beneficial to human kind because products of technology will reach to the poorest of the poor.If you belong to poor countries you can work to countries which has advance technology.What you need is for you you to speak basic english.If you want to stay in your country you will also become rich through internet it is here