1) An idea discussed in this chapter that connects to a reading from previous discussions.
When two countries work on to a common goal, especially developing ones, through supply chains, research or sharing knowledge and innovation, it creates a harmonious environment and reduces chances of conflict. This is because each is benefiting from each other and wants to continue with such growth to improve on its economic and foreign relations (Stiglitz 285). Good working relations mean more peace and good co-existence between countries. This is through production of good health care and medical services that would ensure lifesaving and includes protection of indigenous kinds of knowledge. This provides the countries with better and though few technologies they will close on the gap with the developed and richer countries.
2) Stiglitz recommendation that is very unlikely to occur.
Stiglitz recommends that we let the problem take its natural course and acknowledge that inequality will always be there. However, this may not work as we don’t know when the changes and what the effects such inequalities may have on the involved parties or countries. . Ignoring the problem will raise questions from the public as to why nothing is being done about the situation. Letting things work out for themselves is risky since no one know which course globalization may take later. It is hard to ignore inequality since it will go on increasing hence there is a need to take charge.
3) The most urgent change that Stiglitz recommends
One of the most urgent changes that Stiglitz recommends improved enforcement of the international rule of law. This is through principled laws that govern trade ties. Even if, the law may not be perfect, it’s important to have it observed to enhance better globalization. Good international laws will induce change by regulating peoples and organizations’ behaviors. This must start with the law enforcing agencies and the leaders as good examples and role models in observing the rule of law.
Response to student opinions
Globalization has led reduction of the world into a small village where individual interact at a close range. In this aspect, harmony and unity within this village can result to amplified returns in business. Therefore, countries need to come into terms with each other with the aim of enhancing exchange of ideas, technology and human resources needed to boost globalization and development. The countries that stand a better chance in these deals of the agreement are the developing once, which enjoys the advanced technology from the developed world. They use these development ideas as a foundation for their research work which ameliorates their development strategies. “Developing countries must do their part in enhancing globalization” (Stiglitz 287). Therefore, the first opinion students’ opinion holds waters in regard to Stiglitz opinion.
Man must utilize his opinion in promoting change and development in the world, but not let nature take its own course. Pro- activeness surmounts reactive forces in development minded individuals. Thus, globalization should be stimulated actively rather than adopting instinctive living; otherwise globalization may either be slowed or never take place.
When different parties have to work together towards a common goal, there must be unifying or memorandum and rules. International laws are of paramount significance in determining the rate and effectiveness of globalization strategies. Therefore, Stiglitz recommendation on “better enforcement of international rule of law” is crucial in promoting globalization. It has been a common practice among the developed countries to push for democracy and peace throughout the world in the wake of supporting globalization. Without law, there would be no guidelines to maintain discipline in the world; hence negatively affecting globalization. Stiglitz emphasis on this point by noting “reforming globalization is a matter of politics” (Stiglitz 271)
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