GLOBALIZATION AND ECONOMY

In this era of globalization some  boundaries still exist.It has broken the economical boundary and financial capital is free to move anywhere at any time in the world. But labor, technology and scientific achievements are not free to move from one nation to another. Market driven economy has been accepted by and large all the nation of the world. To safeguard their own vested interest and interest of their MNCs the neo-imperialist forces are trying to impose their agenda all over the world. In the name of liberalization the governments are asked to decontrol and deregulate everything. Although these forces are giving heavy subsidies to their own peasants, they are asking others to reduce or totally withdraw subsidies to control the fiscal deficit.
                      In fact globalization has become synonyms of Americanization. American language, culture and American model of capitalism are superimposed on the nations all over the world. Their slogan is "Fall in the line with us or get ruined".
       To sustain and increase the growth rate the states are being suggested to invite FDI in all the sectors including service and retail. But recently professor JOSEPH STIGLITZ, a renown economist and Nobel laureate  has warned India against opening of its market to financial products. He has called for a greater role for the states in promoting and regulating capitalism and restructuring economy. He quoted and I quote " Governments have to undertake policies which are people friendly. Growth can not be based on chronic capitalism." Unquote. He has also warned India against blind pursuit of the American model of capitalism as it will end up like America, with large inequalities. But Indian government is adamant to follow the path suggested by its American counterpart.
          Due to creation of uni polar world, it is being said that there is no any alternative to the present market driven economy. But an alternative to these policies is emerging slowly and gradually as we can see the change in Brazil, Bolivia, Venezuela and other Latin american countries. These countries have controlled the economy and once again nationalized their resources mainly oil and energy sectors. The governments of these countries have directed the outcome of these resources to improve public education and health care up to a certain extent. By doing so they have strengthened their human resources, which is necessarily required in a nation building.