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Summary Of The Political Economy Of Globalization

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The two course readings that I have selected for this assignment are “The Political Economy of Globalization by Layna Mosley” and “Making Globalization Work” by Joseph Stiglitz. The title that I have selected for this essay is “Globalization and the end of the nation state” due to the fact that the readings by Layna Mosley and Joseph Stiglitz will help me address the impact of globalization in both the developing and developing nation. For instance, globalization may have a positive impact on a developed nation and can have a negative impact on a developing nation. In the reading “The Political Economy of Globalization” by Layna Mosley it talks about how governments have embraced the neoclassical economic claim that economist openness improved …show more content…

For example, there were many issues and problems with the Uruguay Round trade agreement. Some of the complaints about the Uruguay Round trade agreement were that poor countries were actually worse off and that the poorest region with an average income of just over 500 per capita per year, lost 1.2 billion a year, focus was on the liberalization of capital flows and investments rather than on the liberalization of labour flows (Stiglitz, 2006, p. 77). The liberalization of capital flows is what the developed countries wanted and that liberalization of labour flows could have benefited the developing countries. Rich countries such as the United States and Europe dominate countries that are developing due to the fact they have lots of power and control over goods and services. Another key example that can be mentioned is the trade agreement between the United States and Morocco over AIDS drugs. United States made a big push to delay the introduction of generic drugs and wanted the agreement to protect U.S drug companies (Stiglitz, 2006, p. 104). However, if generic drugs came out in Morocco, it would only cost a fraction of brand name drugs (Stiglitz, 2006, p. 104). Nevertheless, the United States had to prevent this from happening as their profits would have fallen dramatically (Stiglitz, 2006, p. 104). The restriction of generic drugs made in the agreement by the Untied States will increase the patent production to nearly thirty years and that these generic drugs will become less accessible in Morocco (Stiglitz, 2006, p. 104). The generic drugs in Morocco would have helped and saved many people that are suffering from various diseases. The United States had an advantage over Morocco due to the fact they placed a patent on the

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Do you ever wonder find yourself wondering how we lived in a world without the internet, smartphones, and televisions? This new world of technology that we live in today is do to the globalization “super story”, which enables us to put things in ways we, individually, can comprehend. Thomas Friedman, an American journalist and three time Pulitzer Prize winner, suggest in his article “Globalization: The Super Story”, that the world has shifted from the international Cold War system to the new international system of Globalization. In other words, the world has adapted to a system of integration rather than divide. Overall, I perceived the article to be terrifying convincing, yet, upon further review I discovered to issues and lack of empathy from Friedman 's point of view.

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First, cooperation’s aids development because when two countries are friendly, understanding, it gives a lot of benefits to both. Immigration could help aid development as well. Many immigrants work longer hours with shorter pay, which means that sometimes they are an easy employee. Working conditions are bad because it can cause a strike or a union. This could

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To what extent does globalization contribute to sustainable prosperity for all people? Globalization contributes largely to sustainable prosperity for all people. Sustainable prosperity is when people of any ethnicity,religion or gender have all their needs met, all have an equal opportunity to create wealth and all to have the chance to pursue happiness. There are many groups that try to make sure everyone has sustainable prosperity. Based on the perspective demonstrated the source should be embraced to a certain extent.

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This movie covers the views of the former US president Bill Clinton, intellectual property activist James Love, global health reporter Donald McNeil, HIV treatment activist Zackie Achmat, pioneering generic drugmaker Yusuf Hamied, former Pfizer executive Peter Rost and many more people. The movie is very much impactful as it exposes the reality of the Western Pharmaceutical companies of how they use the patent law to keep the profit exceptionally high at the expense of people’s lives. This documentary gives a clear differentiation of the haves and the have-nots. This helps us relate to the economic differences of the society and the simultaneous consequences that the people of these two stratas have to face because of the power government provides through patent laws and the unintervention of the government to revise these laws for the betterment of the society.

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Daily millions of products come into the U.S. and the FDA inspects those products to protect the consumer from biological or radiation materials that pose a threat to lives. Every pharmaceutical company within the U.S. must meet the standards set by the FDA before patenting and selling their drugs. The actual process can take up to several years. Public health is the focus of the FDA and regulations and mandates changes constantly to meet the needs of the American

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For them, justification of parallel trade should be granted in a limited situation, but AG Jacobs didn’t think it the same; instead, AG Jacobs gave three factors in his opinion should be considered . First, AG Jacobs mentioned pharmaceutical industry is different from other industries in E.U. Because in pharmaceutical industry, it is member states that regulate the price of medicinal product rather the market. Borrowing from the commission’s suggestion , AG Jacobs points out it would be extremely difficult to even form a single regulated medicinal market within E.U. Second, competition doesn’t prevail from regulation at both national and union level. It is member state who ensure the adequate supply of medicinal products in their own territory .

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Rene Banks Final Paper-Globalization 7/22/2017 Part I: Introduction According to the book, “Globalization is a trans-planetary process or set of processes involving increasing liquidity and growing multidirectional flows of people, objects, places, and information as well as the structures they encounter and create that are barriers to, or expedite, those flows (Ritzer, Dean, 2015).” Throughout this summer semester, I have grown to learn more and realize more about globalization. I never thought of globalization to be increased liquidity of everything and never thought deep enough into globalization to recognize the negatives. To be honest, I didn’t even know what globalization even really meant.

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The number of acquisitions is not so high and it depends more upon the organic expansion. • These pharmacies face informative and predictable risk from the variability of “generic conversion” • Inability of the company to keep stride with the growing private labeled brands popularity. • The in-store implementation of the store formats and services is not consistent at every

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In this day and age political scientists and world leaders alike have marveled at how small the world has become due to technology and the interdependence of countries throughout the international system. For most of recent history America has been carrying the banner for globalization and been successful in its efforts. The number of democracies around the world has grown dramatically since the US’s rise to power, the economic market is increasingly interconnected and the exchange of technology and ideas constantly generates new tools for global evolution and success. Many scholars would point at these accomplishments as indicators of a unique era of globalization, a new wealth of opportunities for countries and groups of people that had

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Many new companies to enter the market without burden of costly tasks such as research and development, clinical trials and manufacturing of drugs. Moreover, patent expiry is one of the reasons which is offering opportunities for lower cost generic manufacturer in terms of greater market access. Additionally, the government has increased their focus on healthcare cost cutting. It is creating pressure on the authority to allow early introduction of low-cost drugs in the

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To support this, he says that, thanks to globalization, “three billion people in the last fifty years have been lifted out of poverty,” which is exceptional. As can be seen, he supports a free-market economy and believes that anyone should be able to start a business and trade with anyone they want without limitations. He is convinced that globalization could make all countries as wealthy as Europe if we let it work. To support and find proof for his thesis about globalization, he sets out on a trip to Taiwan, Vietnam and Kenya. First, his objective in Taiwan is to “see how globalization leads to wealth and democracy.”

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Distributional concerns could be taken care of in the political process; more moderate advocates of Washington consensus policies deny the charge. The policies pursued by the international financial institutions which came to be called the Washington consensus policies or neo liberalism entailed a much more circumscribed role for the state than were embraced by most of the East Asian countries, a set of policies which came to be called the development state. Some economists have argued that free trade is not necessarily the best option for developing economies. It can cause the economies to primarily only produce low income growth and their primary products. If the countries promotes new industries, it may require both selective tariffs on cheap imports and as well as government

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Even if the outcome of the Round was a clear one, it would be very hard to identify its effects on 'developing countries' in general terms. The general outcome could be described as favourable to the sum of the developing world, with only TRIPs and the restrictions on future sovereignty of trade policy posing negative effects. But the advantages seem to be clearly for the most advanced of the developing countries, which already have developed basic services to offer and greater possibilities of attracting potential foreign investments. The new regime in services and anti-dumping would, however, offer gains to the least developed countries in the long-run, as long as they become more efficient in exporting the former or become more vulnerable to the

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As established in the previous paper, globalization has a major impact on the individuals and society as a whole. It reshapes social structures and significantly alters the social experiences of the people. Social phenomena such as intersocietal as well as intrasocietal inequality and conflict are associated with the increased connectivity of the world. Such social realities spark the interest of sociologists across the globe, as they study the relationship between individuals and societies. To facilitate their endeavors, sociologists utilize sociological theories that study society on the micro- and macro level.

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