A Quote by Joseph Stiglitz
We could have managed globalization in ways that ordinary citizens would have benefited rather than just the corporations. Trade is beneficial. There are gains to be had from taking advantage of comparative advantage and specialization. That's true, if you manage globalization right.
Related Quotes
Economists have understood since the Victorian era that the main benefits of trade come from comparative advantage: the idea that people can specialize in what they're good at and then benefit from exchange. The principle is no more mysterious than specialization in the labor market.
We should know that only replacing the economics of competition and greed with the economics of equitable cooperation will guarantee a globalization that takes advantage of potential efficiency gains in ways that also promote environmental protection, international equity, economic democracy, and variety.
Globalization exists but we shouldn't conflate globalization with trade agreements. Trade agreements is how we can shape globalization.
Globalization obviously has the potential to be good. That doesn't mean it's good for everybody. There's a very large number of people in India and China who benefited directly from globalization, but it doesn't mean everybody in America benefits from globalization.
We should keep on going along the path of globalization. Globalization is good... when trade stops, war comes.
It isn't inevitable that we have a globalization which is used by the corporations not to pay taxes. It is not inevitable that we have a form of globalization in which corporations use the threat of moving jobs abroad to lower wages. None of this is inevitable.
I mean, you hear the word 'globalization' over and over and over again. Globalization, globalization, globalization. Rarely has a word gone so directly from obscurity to meaninglessness without any intervening period of coherence.
The gains from specialization go all the way back to Adam Smith. He talked about the advantage of a bigger market being that we could have a finer division of labor and be more specialized.
Globalization has become an ideology with no constraints. And now, nations are forcing themselves back into the debate. Nations with borders we control, with people that we listen to, with real economies, not Wall Street economies, but rather factories and farmers. And this goes against this unregulated globalization, wild, savage globalization.
Globalization is a complex issue, partly because economic globalization is only one part of it. Globalization is greater global closeness, and that is cultural, social, political, as well as economic.
Globalization - and I think we share this conviction - is that globalization needs to be shaped politically, it needs to be given a human face, but we cannot allow to fall back into plagued globalization times.
I think that the movement against the World Bank, against the globalization process that is happening, is very positive. We need a globalization, a globalization of people who are committed to social justice, to economic justice. We need a globalization of people who are committed to saving this earth, to making sure that the water is drinkable, that the air is breathable.
The standardization and specialization of industrialization was being undermined by globalization. When people in Bangladesh could produce things much more cheaply than anybody could produce them in Detroit, we no longer were the world capital of industrialization.
It is people who are the objects of globalization and at the same time its subjects. What also follows logically from this is that globalization is not a law of nature, but rather a process set in train by people.
We need to move from comparative advantage to perpetual advantage.
There is a huge shift taking place in the global awareness in the last 5 years with strong views about globalization and the power structures of major corporations.
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