"Global Capitalism: Can it be made to work better?"

Business Week, November 6, 2000, pp. 74-100.

Synopsis:

One of the critical questions in the age of global capitalism is why free markets are producing different results in different countries. This special report provides an answer to the question. The traditional view of global capitalism has argued that all countries should open their markets as soon as possible. A more realistic view, however, emphasizes that there are no one-size-fits-all policies for development. Trade and inflows of private capital are still essential to achieving growth, but there is no automatic link between openness and growth especially in developing countries. What drives strong, sustainable growth is whether the country has a broader base of development that includes political stability, sound economic management, and educated workers. This special report also covers the issue of global trade, global labor standards, and global investment.

Full-text Article: http://www.businessweek.com/2000/00_45/b3706001.htm

Text connection:

Chapter 1 "Globalization" (pp.5-7), Chapter 4 "International Trade Theory" (pp.120-121), and Chapter 7 "The Political Economy of Foreign Direct Investment" (pp.213-219).

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