THE LIBERAL PERSPECTIVE OF GLOBALIZATION: A CRITIQUE
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Date
2004-03-14
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Department of Political Science, Faculty of Business and Social Sciences, University of Ilorin, Ilorin
Abstract
The central argument of this article is that globalization is essentially the universalization of capitalism. This position is developed as a critic of the fundamental assumptions of protagonists of globalization who in their liberal interpretation of the concept posit that trade liberalization, deregulation, minimal government participation in the economy and foreign direct investment would increase the chances of prosperity in globalized world. The paper argued that globalization connotes with a form of inequality and marginalization. As a concept, it means stupendous wealth for few (western industrialized countries) and shrinking poverty for the majority (the third world countries). Although an outstanding development in human history, the nature and character, purpose and design of globalization are all intended to pave way for global capitalism.
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Liberal, Perspective, Globalization, Nigeria