Econ FF

Globalization
and Economic
Development
What is globalization?
Globalization
A process that the people, companies, and government in the
international society are increasingly interconnected through cross-
border trade and investment.
Effects of Globalization
1. Easy Access to Foreign Products
2. Competition in the Global Market
3. Industrial Specialization
Anti-Globalization
Economic policy --- Protectionism
Foreign policy --- Isolationism
Business policy --- Localizationism
Etc
What value should we pursue as a goal of

economic development?
How can economic
development be measured?
GLOBAL SUSTAINABLE
DEVELOPMENT GOALS
Happiness can measure social progress and should be the goal of
public policy.
Sustainable development is economic, social, and environmental.
What makes people in a
society happy?

The rule of law is a cornerstone for
a better functioning economy that
adheres to regulations, greater
internal mobility, social cohesion and
good governance.
Can education provide
sustainable development and
make people happier?
Achieving inclusive and quality
education for all reaffirms the belief
that education is one of the most
powerful and proven vehicles for
sustainable development.
Education is the most powerful

weapon you can use to change the
world. - Nelson Mandela
Can education make people happier?
Case of Nordic countries: More public
expenditure + Education for Sustainable
Development
The Effects of Globalization on
Workers Rights and Labor Laws
Effects of Globalization on Workers
Rights
-Decline in manufacturing jobs in US and Northern Europe
-Restructuring of Labor Markets
-Standardization of Labor Laws

Labor Law Violations by Country
Since 2015
19 countries
decreased their ratings
12 countries increased
their ratings
The Worlds Worst Countries for Workers.

The 2015 ITUC Global Rights Index.
Future of Labor Laws
Trans-Pacific Partnership
Enforceable Labor Standards
Ban on Child Labor
Minimum Wage
Ban on Workplace Discrimination
Right to Form a Union and Bargain Collectively

-The relation between ethnic
diversity and economic growth
- Income inequality
Ethnic Diversity
28.3 38.3
http://www.japantimes.co.jp/news/2008/06/07/national/diet-officially-declares-ainu-indigenous/#.V7k-iWVUe-Q
http://www.census.gov/newsroom/facts-for-features/2015/cb15-ff22.html
Ethnic Diversity
-Can bring about variety in abilities, experiences, cultures which may be

productive and may lead to innovation and creativity (Harvard Univ.:2003)
Promoting ethnic diversity is a key to
economic growth.
Inequality, Capitalism and
Globalization
Capitalism
Private ownership
Production for profit
System of exchange based upon market price
Everyone is supposed to work in order to accumulate

their own wealth
Everyone seeks new markets

Negative effects of inequality
Economic growths; level of GDP per capita
Increases the rate of rent-seeking and
predatory market behaviors
Social instability
Increased crime
Issues in the globalized countries

Positive effects of inequality
Motivates people to win
Increase incentives for innovation and entrepreneurship
e.g.) China, the U.S.
Socialism
Solution for the issue
How private sectors and self
can address our changing future.
The Problem of Business
In recent years, business has been criticized
as a major cause
of social, environmental, and economic problems.
Source: Prof. Michael Porter: Harvard Business Review Creating Shared Values (2011)
His suggestion: Creating Shared
Values (CSV)
Societ
Business
Business Societyy
Source: Prof. Michael Porter: Harvard Business Review Creating Shared Values (2011)
Addressing Our Changing Future
Knowing by Seeing and Hearing
Discussing and Brainstorming
Taking Collective Actions

Thank you for your attention!
Sources
http://www.keepeek.com/Digital-Asset-Management/oecd/education/education-at-a-glance-2015_eag-
2015-en#page6
http://data.worldbank.org/indicator/SE.XPD.TOTL.GB.ZS
http://worldjusticeproject.org/rule-law-around-world
https://www.weforum.org/agenda/2015/09/why-rule-of-law-is-the-bedrock-of-sustainable-development/
http://www.undp.org/content/undp/en/home/sdgoverview/post-2015-development-agenda.html
https://sustainabledevelopment.un.org/content/documents/2328Global%20Sustainable%20development
%20report%202016%20(final).pdf
http://worldhappiness.report/wp-content/uploads/sites/2/2016/03/HR-V1Ch4_web.pdf
http://www.un.org/sustainabledevelopment/sustainable-development-goals/
http://worldhappiness.report/wp-content/uploads/sites/2/2016/03/HR-V1_web.pdf
https://sustainabledevelopment.un.org/?menu=1300
http://www3.weforum.org/docs/WEF_Human_Capital_Report_2015.pdf
"World Economic Outlook Database". International Monetary Fund. April 2016.
"Global Competitiveness Report 2015-2016". Global Competitiveness Report 2015-2016.
http://www.heritage.org/index/ranking

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Globalization

What value should we pursue as a goal of

Education is the most powerful

-Restructuring of Labor Markets

-Standardization of Labor Laws

The Worlds Worst Countries for Workers.

Enforceable Labor Standards

Ban on Child Labor

Ban on Workplace Discrimination

Right to Form a Union and Bargain Collectively

-Can bring about variety in abilities, experiences, cultures which may be

Promoting ethnic diversity is a key to

Production for profit

System of exchange based upon market price

Everyone is supposed to work in order to accumulate

Everyone seeks new markets

Issues in the globalized countries

In recent years, business has been criticized

Knowing by Seeing and Hearing

Discussing and Brainstorming

Taking Collective Actions

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