I agree that some government regulation is needed. If there is none, the world would become more heavily skewed towards the richer companies who would be incredibly wealthy and away from the poorer countries who can not make the same economic moves as the richer nations.
Friday, December 11, 2009
This week's reading cover globalization, cosmopolitan democracy, and neo-liberalism. The authors provide examples of each through the European Union and Mercosur. They debate what is best for the world economy. According to neo-liberalism, there should be free trade between countries and virtually no government intervention in the process. This would help the rich get richer and possibly help the more poor countries but it would not benefit them on the same scale as the more wealthy nations. They argue that some amount of government check is needed on more wealthy countries so that they can not outsource all of their companies to areas of the world where they can take advantage of the people by paying extremely low wages.