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Globalization and Democracy: A Short Introduction

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  • Khan, Haider

Abstract

The main purpose of this work is to address a puzzle and suggest strategies towards solutions that are freedom-enhancing. The puzzles: why is there such a tendency towards regionalization and even nationalist protectionism despite the rhetoric of globalization, the structural adjustment policies of the IFIs( International Financial Institutions), and the recognized merits of a rules-based global system? The main argument offered is that there is a contradiction in the heart of the current US and the IFIs-led globalization that stems from their seeming refusal to understand the implications of unevenness in the real world. This also has led to their neglect of some vital principles of global justice. By ignoring issues of equity, the current leaders of globalization now risk losing economic efficiency if the world becomes further fragmented. Using an extension of Sen’s capabilities approach---called the social capabilities approach--- the role of deepening democracy in the global political economy is shown to be crucial in this process.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49515.

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Date of creation: Aug 2013
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Handle: RePEc:pra:mprapa:49515

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Keywords: globalization; democracy; social capabilities approach; unevenness; IFIs; freedom; global justice; global political economy;

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  1. Khan, Haider & Liu, Yibei, 2008. "Globalization and the WTO Dispute Settlement Mechanism: Making a Rules-based Trading Regime Work," MPRA Paper 7613, University Library of Munich, Germany, revised 2008.
  2. Thomas Straubhaar & Achim Wolter, 1997. "Globalisation, internal labour markets and the migration of the highly skilled," Intereconomics: Review of European Economic Policy, Springer, vol. 32(4), pages 174-180, July.
  3. Haider A. Khan, 2007. "A Theory of Deep Democracy and Economic Justice in the Age of Postmodernism," CIRJE F-Series CIRJE-F-468, CIRJE, Faculty of Economics, University of Tokyo.
  4. Haider Ali Khan, 2002. "The Extended Panda's Thumb and a New Global Financial Architecture," CIRJE F-Series CIRJE-F-163, CIRJE, Faculty of Economics, University of Tokyo.
  5. Haider A. Khan, 2002. "Can Banks Learn to Be Rational?," CIRJE F-Series CIRJE-F-151, CIRJE, Faculty of Economics, University of Tokyo.
  6. Paul Cook & Colin Kirkpatrick, 1997. "Globalization, Regionalization and Third World Development," Regional Studies, Taylor & Francis Journals, vol. 31(1), pages 55-66.
  7. Khan, Haider A., 2011. "Bangladesh: National Political Econmic Strategies in Perilous Times," MPRA Paper 40121, University Library of Munich, Germany.
  8. Ira N. Gang & Haider Ali Khan, 1999. "Foreign aid and fiscal behavior in a bounded rationality model: Different policy regimes," Empirical Economics, Springer, vol. 24(1), pages 121-134.
  9. Haider A. Khan, 2003. "Corporate Governance of Family-Based Businesses in Asia: Which Road to Take?," CIRJE F-Series CIRJE-F-229, CIRJE, Faculty of Economics, University of Tokyo.
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