What are the liberal & critical perspectives on globalization?

Question

With economic liberalism encouraging that citizens are left to their own economic devices with little State interference,I'd imagine that liberals see globalization as a positive situation...

I have to admit that I don't have a clear idea of what "critical" perspective is in regards to economics,let alone globalization.Could anyone help me define what it is and then what is it's outlook on globalization.

Answer 1

There is no distinction between "liberal" economic perspective and a "critical" perspective.  There is only an economic perspective.  The liberal and critical difference you are referring to is a political preference.

In economics globalization is justified through what is called comparative advantage.  In this case we are talking about countries that are able to produce a good or service at a lower relative cost.  It has been proven that when trade for this good or service occurs both parties will benefit.  That is the view of economists and would fall in line with liberal political perspective.

Those opposing globalization claim the exploitation of disadvantaged countries.  Like I have already previously stated, economically both countries will benefit from trade.  The social issue that arises from this is the possibility of hazardous working conditions, exploitation of underage workers, excessive hours, etc.  This is something that should be addressed within the country that is providing the good or service.

Hope this helps.  Anyone that says globalization is just "bad" (previous post) is uneducated in economics and their view should be cast to the dumpster. ;)    

Answer 2

globalization is bad. Its a race to the bottom. All corporations do is keep jumping from country to country looking for the cheapest labor, the least amount of safety standards, and the least amount of regualtion