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Although globalization has promised an improved standard of living and economic development, it has been heavily criticized for its production of negative effects. Globalization is not simply an economic project, but it also heavily influences the country environmentally, politically, and socially as well.
The postdevelopment critique holds that modern development theory is a creation of academia in tandem with an underlying political and economic ideology. The academic, political, and economic nature of development means it tends to be policy oriented, problem-driven, and therefore effective only in terms of and in relation to a particular, pre-existing social theory.
Globalization can lead performers to discard traditional instruments. Fusion genres can become interesting fields of analysis. [96] Music has an important role in economic and cultural development during globalization. Music genres such as jazz and reggae began locally and later became international phenomena.
Globalization and Its Discontents is a book published in 2002 by the 2001 Nobel laureate Joseph E. Stiglitz. The title is a reference to Freud's Civilization and Its Discontents . The book draws on Stiglitz's personal experience as chairman of the Council of Economic Advisers under Bill Clinton from 1993 and chief economist at the World Bank ...
Development thinking has been dominated by the West and is very ethnocentric, according to Sachs. The Western lifestyle may neither be a realistic nor a desirable goal for the world's population, postdevelopment theorists argue. Development is being seen as a loss of a country's own culture, people's perception of themselves and modes of life.
Globalization is sometimes perceived as a cause of a phenomenon called the "race to the bottom" that implies that to minimize cost and increase delivery speed, businesses tend to locate operations in countries with the least stringent environmental and labor regulations. Pressure to do this is increased if competitors lower costs by the same means.
International Bank for Reconstruction and Development, one of the two lending arms traditionally considered to be the World Bank. Typically lends to middle-income governments, also some creditworthy low-income countries. Founded in 1944. FY 2014 commitments $18.6 billion. Lends at market rate. Guarantees loans
The anti-globalization movement, or counter-globalization movement, [1] is a social movement critical of economic globalization. The movement is also commonly referred to as the global justice movement , [ 2 ] alter-globalization movement, anti-globalist movement, anti-corporate globalization movement, [ 3 ] or movement against neoliberal ...