Globalization project, liberalizing trade and neo-liberalism?

Question

So I just started this Development and Social Change class in college and my professor is asking us interpret this sentence into our own words and meaning...problem is I dont know what it is saying. So can some one put it in simpler terms please?

The Globalization project (1970s-2000s), liberalizing trade and investment rules, and privastizing public goods and services, has privileged corporate rights over the social contract and redefined development as a private undertaking.

So just to let you all know I am NOT asking you to do my assignment for me I am just trying to figure out what that means so I can form my OWN opinions on it in order to do the assignment. Please help ASAP.

Im desprate!

Answer 1

Neo-liberalism...another word that means nothing

John Mcain wants to make it so buisnesses dont have to pay for your healthcare, but you will have to pay for it YOURSELF

John Mcain wants to end social security and medicare

John Mcain wants to end your right to control your body

Answer 2

Globalization or evolving toward a global society could be good, but what is happening is really corporatization of the world and is taking place with very little, if any, input from ordinary people who form I'd say 90% of humanity.  The nation state and people's sovereignty is being destroyed through privatization and social and trade laws that are given more power than our national governments.  You have to understand what is meant by public domain, which is being increasingly lost to the Private sector.  Public domain refers to the common good, that is, resources that belong to all the residents of a nation, and the benefits derived from them are to accrue to the people of the nation.  When these resources are privatized, the benefits are used in the interest of profits for a few super rich people.  Also keep in mind that in the case of public resources there has to be accountability to the elected government but in the privatized situation accountability is really to the shareholders.  Most ordinary Americans have no company shares or have very little.  So in globalization as we have it, the sovereignty is being transferred from people to the super rich corporate owners, in particular the international bankers who control the money system.  

There is a difference between development based on private undertaking geared to corporate profits and development geared to the benefit of society of people.  For example, if we take the benefit of people into consideration we will have a lot more concern for the environment than what you are seeing now.  Perhaps you'd have seen electric cars and much better public transport system but when development is private and based on commercial factors only, everything plays second fiddle to corporate profits.  Unfortunately the mainstream media is controlled by the big corporations and consequently you the public are not given the information to see what's going on.  You can get to know what is happening from a more truthful people's perspective but first of all it involves an awareness that something is wrong and also taking the initiative to put time and effort to find out.  Well, how many people do you see with this kind of awareness or who are interested in making the effort?  This is a very serious issue, it involves your freedom and civil liberties and the constitution which are being lost because of illiteracy and apathy, and....

Answer 3

It is saying that corporations have the right to practice pure capitalism. There should be no regulations from the government. For any more ideas look up David Riccardo.