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The multinational business enterprise and its attendant economic phenomenon of globalisation have become ubiquitous in the new neo-liberal world order of the last few decades. However, all too often, these enterprises’ activities have lacked prudence and foresight in terms of…
But, recent evidence suggests that there are more cases of the latter than the former. The culmination of this discontent among the masses of lesser developed regions of the world seems to fuel the fire of trans-national terrorism. This essay tries to find how far true the criticisms directed at the phenomenon of neo-liberal globalisation are, and how much it is culpable for the propagation of terrorism.
The primary criticism levelled against globalisation is its lack of accountability toward the local and broader communities in which it functions. While financial analysts can accurately evaluate the values of tangible assets, more often than not the measure of intangible consequences of a business corporation’s operations are not accounted. For example, let us take a company that out-sources manufacturing of cosmetics to a developing country. Countries such as Taiwan, Thailand, Singapore, Bolivia, Venezuela and Chile are typical examples. In a typical scenario, the manufacturing and packaging of the companys products involves chemical processes, the residues of which are purged into a nearby river stream or sea. The discharged residual matter is highly toxic and hence harmful for the aquatic life in the waters. This leads to the diminishing in numbers of many species. Those that survive this hazard and land in fishing nets are consumed by human beings (Rodriguez, et. al., 2006). So, now the citizenry of the area surrounding the companys processing unit get affected. The affectation could be of varying degrees and can manifest slowly over a long period of time. These are all costs alright, but not for the concerned corporation. These "externalities" are not accounted for by them (Verbeke, et. al, 2007).
Findings of several research studies conducted in the last few decades present a rather bleak picture of globalisation induced environmental and local community disturbances in the developing world. In countries that ...