Poverty and GlobalizationIssue: Winter 2005-2006
MOST OF the world's people live in countries where markets do not work properly and resources are not efficiently allocated. The notion that liberal economics has "failed" misses the point that in many areas of the world it has not really been tried.
Poverty--often cast as the fault of multinational corporations or "imperialist governments"--is the most virulent killer on our planet. Many continue to believe that increased government regulation and control, particularly when it comes to international trade, is the best way to combat poverty, ignoring the fact that real liberalization--truly free and competitive markets--is in fact the agenda of the world's poor.