Globalization on Improving the Lives of the Ordinary Workers and the Poor
Has Globalization improved the lives of ordinary workers and the poor? A Comparative essay on the works of Stephanie Seguino and the journal of the World Commission on the Social Dimension of Globalization
Prepared by:
Al Felipe P. Bautista
University of the Philippines, Diliman
October 2012
In answering the question of whether globalization has improved the lives of ordinary workers and the poor, I have referenced on the paper of Stephanie Seguino (2010) entitled “Globalization and Inequality”, and the journal of the World Commission on the Social Dimension of Globalization (2004) entitled “A Fair Globalization: Creating Opportunities for All”. As both dealt with the effects of globalization, these details shall be used in examining whether globalization has significantly led to a development which is fair to all.
Seguino (2010) defined globalization as “a set of macro-level policies and regulations that affect cross-border transactions, resulting in increased interdependence among countries and their citizens.” In an attempt to explain it further, she also described the three key facets of globalization namely: trade, investment and financial liberalization. These have also been regarded by the World Commission on the Social Dimension of Globalization or WCSDG (as how it shall be labeled in this essay) as significant aspects in determining whether globalization has, indeed, been beneficial to all countries. Though Seguino specifically recommended a lot of measures such as the PPP, HDI, and the like to gage the effects, both articles revolve on the perspective that globalization should be able to enhance the living standards of people, whether be it of the formal or informal sector, or even the minorities, and it should foster developmental sustainability.
It was in the year 1990 that globalization was pronounced; however, it was striking to know that the global GDP growth has been slower in comparison with what it was on the previous
Prepared by:
Al Felipe P. Bautista
University of the Philippines, Diliman
October 2012
In answering the question of whether globalization has improved the lives of ordinary workers and the poor, I have referenced on the paper of Stephanie Seguino (2010) entitled “Globalization and Inequality”, and the journal of the World Commission on the Social Dimension of Globalization (2004) entitled “A Fair Globalization: Creating Opportunities for All”. As both dealt with the effects of globalization, these details shall be used in examining whether globalization has significantly led to a development which is fair to all.
Seguino (2010) defined globalization as “a set of macro-level policies and regulations that affect cross-border transactions, resulting in increased interdependence among countries and their citizens.” In an attempt to explain it further, she also described the three key facets of globalization namely: trade, investment and financial liberalization. These have also been regarded by the World Commission on the Social Dimension of Globalization or WCSDG (as how it shall be labeled in this essay) as significant aspects in determining whether globalization has, indeed, been beneficial to all countries. Though Seguino specifically recommended a lot of measures such as the PPP, HDI, and the like to gage the effects, both articles revolve on the perspective that globalization should be able to enhance the living standards of people, whether be it of the formal or informal sector, or even the minorities, and it should foster developmental sustainability.
It was in the year 1990 that globalization was pronounced; however, it was striking to know that the global GDP growth has been slower in comparison with what it was on the previous