By Michael Bassett
Globalization is one of those words that Parliamentarians toss around, business owners laud and some social groups deplore, but many people are still unsure what it is, and more importantly what it means.
A recent panel discussion organized by the Interfaith Committee on Social Values and our Economy attempted to define what globalization means for the average Canadian. The panel consisted of prominent economists from both the free market and market control perspectives.
In general, the panellists agree globalization is occurring and is having significant effects on the lives of workers and individuals around the world.
Owen Lippert, director of the law and markets project at the Frasier Institute, says globalization is just another evolution in the free market.
Lippert says the best way to ensure prosperity for all individuals under globalization is to further deregulate markets so that competition can be increased.
Warren Allmand, the president of the International Centre for Human Rights and Democratic Development, disagrees strongly with Lippert’s contention that a freer market is a more equitable market.
He suggested a strong international coalition with the power to enforce trade laws that would include clauses for “social goods” is what’s needed to protect Canadian workers.
Social goods would include things like education, health, provisions against child labour and minimum wage laws.
“What we need, first of all, is a global alliance of social movements to find some balance to the global power of transnational corporations,” said Allmand.
The suggestion of an international regulator for the global markets is also supported by Allan Maslove, the dean of the faculty of Public Affairs and Management at Carleton University.
He says although he cannot foresee this global governance mechanism emerging in the immediate future, it may become necessary as Canada’s government loses it ability to make some decisions because of globalization.
“What globalization is about, in the extreme, is the disappearance of national borders.”
He says an international alliance may become necessary in the near future to restore the policy autonomy of states so as to restore their democratic choices.
Andrew Jackson, a senior economist with the Canadian Labour Congress, noted that although an international market regulator might seem like a utopic idea, the serious consequences of globalization could quickly bring governments to the decision that something must be done to curb the power of the markets under globalization.
Jackson says that the gap between the poor and the rich is growing. He says this gap is growing between poor and rich states as well.