Should the Average Citizen Resist Globalization Essay

1366 Words Feb 13th, 2015 6 Pages
The answer to the question "Should the average citizen resist globalization?" depends entirely upon the morals and values common among all individuals and cultures worldwide, because in a worldwide context, there is no such thing as an "average citizen", otherwise. While western citizens in Europe and the United States are raised with a completely different culture than citizens of the Middle East or Africa, values such as fairness, stability, generosity, integrity, non-violence, and individual freedom are shared by all people at their core, even if putting those values into actual practice seems to be another matter entirely. The move towards globalization presents a set of problems that a lot of people are set against because they seem …show more content…
In India, “ The Koel-Karo dam project was commissioned despite the fact that it would have destroyed 200 tribal villages and submerged 45,000 hectares of arable land. The Subernarekha Project has been the site of police atrocities and the high level of illegal transactions of funds within the project has been common knowledge.” (Mohapatra, 2012) Opponents also point out that globalization may have set the stage for several of the world’s recent financial crises. They claim that free market policies, together with outsourced labor and access to foreign financial markets made the global economy more susceptible to crisis by first driving down wages worldwide, and then encouraging massive increases in consumer lending. Investment banks and hedge funds, major sources of capital and credit, were then allowed to move from a regulated national environment and were able to operate within the almost completely unregulated international environment, in which speculators operated with no oversight and no limit as to the risks of their investments. (Creamer, 2009)
The ability to take large and dangerous financial risks with no oversight made financial markets more vulnerable and insecure to other investors. According to Reint Gropp, professor of finance at Goethe University, “Hedge funds are opaque and highly leveraged. If highly leveraged hedge funds are forced to liquidate assets at fire-sale prices, these asset classes may sustain

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