Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, publisher of www.GavdosPress.com and Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation.
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We have been in the midst of a fundamental and historic shift of how the economies around the world develop. With the collapse of communism, the centralized and state control model of the economy has also collapsed. Other socialist State models, i.e., Sweden, UK before Margaret Thatcher, have also collapsed. What we have now, however, imperfect it maybe, is the model of the “Free Market.”
This shift is occurring in parallel with two other sociopolitical expressions:
- Smaller government, though the last couple years this seems to have moderated quite a bit, and
- the need, indeed the demand by our society to provide assistance, protection, and distribution of economic benefits a “fair” way
What we are witnessing is a major shift on “how we can fulfill our expectations of a humanistic society” while we keep the state’s interventions and control power at minimum.
Before I deal with this question (shift) let me digress in to a bit of history . . . . After all, how can a Greek get up to talk about such matters without referring to HISTORY .
Continue reading THE BUSINESS ENTERPRISE AND TODAY’S SOCIETY “Article 2”
Liam Fox is secretary of state for Defence, UK
The Guardian Newspaper, an Opinion
Two hundred and forty years ago, Adam Smith published one of the most important texts ever written. The Wealth of Nations set out his vision of free trade as a pathway to opportunity and prosperity for all; and that in a true open global economy no one need lose out – we all could benefit.
Globalization needs to be championed more vigorously
Yesterday I was in Manchester speaking about why I believe his principles are as much alive and relevant today as they were in the 18th century – despite vastly different trading environments.
We stand on the verge of an unprecedented ability to liberate global trade for the benefit of our whole planet with technological advances, such as the internet and e-commerce, dissolving the barriers of time and distance. And because of the brave and historic decision of the British people to leave the European Union, I believe the UK is in a prime position to become a world leader in free trade.
Globalization represents an acceleration of the trend in which the world has become increasingly compressed, economically, culturally and politically. However, it is becoming increasingly misunderstood and its benefits not championed vigorously enough. While the increased economic activity that globalization has generated has been broadly welcomed by business, politicians have often worried about how the dissolving concepts of sovereignty will affect their ability to influence events, and many have worried about the effects on the world’s most vulnerable people.
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Dr. Ngaire Woods is the Founding Dean of the Blavatnik School of Government and Professor of Global Economic Governance at the University of Oxford. She founded and is the Director of the Global Economic Governance Program
Across the world, populists are attracting votes with their promises to protect ordinary people from the harsh realities of globalization. The democratic establishment, they assert, cannot be trusted to fulfill this purpose, as it is too busy protecting the wealthy – a habit that globalization has only intensified.
This article is published in the Social Europe Journal, click on the URL below to read the original posting:
For decades, globalization promised to bring benefits to all. On an international scale, it facilitated the rise of the Asian tigers and the BRICS countries (Brazil, Russia, India, China, and South Africa), produced rapid growth across Africa, and facilitated the boom in developed countries through 2007. It also created new opportunities and augmented growth within countries. But since the 2008 crash, many rich countries have been locked into austerity; the Asian economies have been slowing; the BRICS’ progress has been stalling; and many African countries have fallen back into debt.
Continue reading Confronting The Global Threat To Democracy