Does Globalization Help Reduce Poverty?
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How effective is the argument that globalization helps reduce poverty?
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Solution Summary
The expert provides an effective argument that globalization helps reduce poverty.
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I've identified several reasons why this argument may not be effective at all.
1. "Austerity" means the cutting of state budgets (welfare, schools, medicine, etc) - this leads to shower growth and very low confidence in the economy. The IMF and major banks impose this on countries in trouble in exchange for loans. Their independence, needless to say, is violated. Free trade widens the gap between rich and poor, since at times of economic stress, when the poor are most vulnerable, free ...
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