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Document Abstract
Published: 2002

Does globalization help the poor?

Does free trade (encouraged by the Bretton Woods institutions) assist the poor?
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This article criticises the negative impact of the advocates of of economic globalization (World Bank; IMF; WTO) on the world's poor.

The article finds that:

  • the advocates of globalisation stress that those that oppose globalisation are hurting the poor by arresting the development of free trade and liberalisation
  • economic globalisation is causing an acceleration in poverty and inequality
  • economic globalisation makes things worse for the poor
  • the ideologies and rules of economic globalization -- including free trade, deregulation, privatization, and structural adjustment -- have destroyed the livelihoods of millions of people, often leaving them homeless, landless and hungry, while removing their access to even the most basic public services
  • isolated instances of improvement have been short-lived and benefits achieved have gone principally to the elite
  • 'success stories' have usually not resulted from following IMF or World Bank dictates, but by often doing quite the opposite (i.e. import substitution)
  • the policies of the Bretton Woods institutions are not designed to benefit them, but to benefit rich industrial countries and their global corporations
  • globalizing institutions are fully aware of the impact they are having on the poor. Their goal is to acheive the free flow of global capital
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Authors

J. Mander; D. Barker

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