The Seamy Side of the Global Economy

Abstract

Revolutionary developments in technology and the deregulation of borders and economies have enhanced efficiency, stimulated growth, and expanded opportunities for four to five billion people around the world to join the market-oriented global economy over the last generation. But the global economy also has a seamy underside often neglected in academic discussions. This article offers a brief introduction to some of the problems that challenge governance and social stability in the generation ahead. It examines how globalization has multiplied opportunities for organized crime and terrorists; increased human trafficking, as well as forced and child labor; benefited sweatshops; expanded the flow of unsafe food and products; and contributed to environmental hazards. Because of the many complex and controversial issues involved, and the limited data publicly available, the author seeks only to survey current conditions, to identify relevant sources, and to encourage future scholarly research.

Соціалізація Економіки Як Фактор У Вирішенні Сучасних Глобальних Проблем

“…Deterioration of the environment impacts global warming and the rising level of morbidity of people. Several other serious problems, such as global pandemics (Stein, Sridhar, 2017), drug trafficking (Jenner, 2011), and human trafficking (Eckes, 2011), continue to create new difficulties for governments around the world. Over the next 20 years the world will have to face up these problems.…”

“…However, along with these advantages, the shortcomings of globalization manifest themselves. Open borders enhance the possibilities for criminal activities, including human trafficking, forced labor and organized crime (Eckes, 2011). The benefits of globalization are unevenly distributed among countries, national attributes of countries fade in a certain manner, economic crises and financial turmoil are more rapidly propagating in the global space.…”

“…As an alternative, J. Clapp (Clapp, 2014), S. Muthayya and others (Muthayya et al, 2013) focused their research on the global problem of hunger, demonstrating how it affects developing countries. The negative aspects of globalization were emphasized by scholar N. A. Eckes (Eckes, 2011). M. Kvaratskhelia (Kvaratskhelia, 2017) investigated global problems shared by small countries of the world, mostly cultural and social perspective, when globalization erases the national identity of small nations.…”