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In depth analysis about article - Essay Example

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Free Trade and Globa1ization vs. Environment and Community Majority of the economist despite their mutual differences on various aspects of the economy, surprisingly, happened to have unanimity of intellectual analysis over the goodies of free trade and over whelming benefits of global economy through integration…
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In depth analysis about article
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In depth analysis about article

Despite known contribution of free trade towards economic growth, competitiveness, peace and reduced product rates, the writer has surfaced some serious social and environmental concerns attached to the issue. Arguments thus presented are thought provoking and the ills of free-trade and global integration are discussed at length which were not considered initially at appropriate levels. Social implication of globalization through free-trade are numerous and devastating. Relying too much on the global supplies usually discourages the local grower and manufacturers and thereby results in reduced self reliance which by no means is a good social indicator. Competition in some cases may also force a firm to accept the child labor to reduce costs. A country with strict legislation on social security and child labor find it hard to compete with other lenient countries on these issues. Developed countries have many strict labor protection laws which results in increased internalized costs and further demolish the chances of a true competition. Therefore, to maintain the competition it is important to lessen the differences of internalize cost among the nations through strict enforcement of social security and child labor laws. The other solution is the imposition of compensatory tariffs on goods from low standard countries. ... Read More
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