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Economic globalisation and paradoxes

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Author(s): Dokmanović Mirjana

Journal: Temida
ISSN 1450-6637

Volume: 6;
Issue: 4;
Start page: 15;
Date: 2003;
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ABSTRACT
The increased development of technology and integration of markets have created possibilities to eradicate hunger, poverty and other illnesses of the mankind. Contrary, the world is facing opposite trends: the widening gap between the rich and the poor, increasing poverty, human security and conflicts. The negative effects of the globalisation that experience the majority of the world population are rooted at the ruling neoliberal model of macro economy, shaped and dictated by the international financial institutions, WTO, multilateral companies and transnational corporations. This logic is based on the free market economy, free flow of capital, resources, investments and labour force, trade liberalisation, deregulation, privatisation, reduction of social services, and elimination of the concept of “the public good”. This economic model induces exploitation, discrimination, and inequalities, and therefore, it suits only to the big and powerful (states, markets, companies, individuals...), while brings disadvantages to the small and less powerful (states, markets, companies, individuals...). In addition, it deepens historical and contemporary inequalities based on race, sex, ethnicity, nationality etc. between and within states, and regions, including the West and the North. This context of development especially hurts vulnerable and marginalised groups, including women, resulting in their social exclusion and increased poverty. The efforts regarding the realisation of the UN Millennium Development Goals, including eradication of poverty and hunger, and development of gender equity, will be not effective at all until the neoliberal model should be replaced by the heliocentric, human rights approach to development.
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