3 GL is a matter of perspective The Western narrative of GL begins with the Renaissance, moves to the Enlightenment, and the Industrial RevolutionBUT, if we go back to 1000 AD we find that GL moved from East to West
4 Global Interdependence and Movements It’s the idea that GL=Westernization that incites parochial tendenciesi.e., resistance to all Western imports, even "positive" ones, e.g., shared values around freedom, knowledge, science, etc.
6 Non-Western societies should NOT reject GL in principal We can’t reverse economic predicament of poor by withholding advantages of technology, international trade, social and economic merits of living in an open societyThe issue of distribution of economic gains/losses is a separate critical issue
7 Global Justice and the Bargaining Problem Issue is not whether a particular arrangement is better for *everyone* than no cooperation at allOne cannot rebut distributional concerns by saying *everyone* is better offFair distribution of benefits is important
8 So-called “anti-GL” protests have become the most globalized events in the contemporary world Protesters focus on the distribution of globalization’s benefits
9 Altering Global Arrangements The issue is not whether to promote market economyMarket economy is compatible with different ownership patterns, resource availabilities, social opportunities, and rules & regulationsIt's hard to achieve economic prosperity w/o benefits of exchange and specializationBUT, markets don’t self-regulate!
10 Success depends on enabling conditions Enabling conditions depend on economic, social, political institutions at national & global levelAnd there’s an urgent need for reforming institutional arrangements
11 Institutions and Inequality Market outcomes are massively influenced by public policies in education, epidemiology, land reform, microcredit, legal protections, etc.