A Fair Globalization: Creating Opportunities for All

A new report issued by the World Commission on the Social Dimension of Globalization acknowledges that globalization's "potential for good is immense," but points to record unemployment levels as a sign that globalization has not met the majority of men and women's "simple and legitimate aspirations for decent jobs and a better future for their children." The Commission, created by the International Labor Organization, calls for widespread reform of policies and institutions of global governance. Reforming globalization will necessitate improvements in governance within countries, the report's authors say, as the basic principles of democracy, human rights, social equity and the rule of law must be in place for the majority to benefit from globalization. It will also require cooperation at the global level. International institutions must work together to develop core labor standards and fair rules for international trade and migration. They must also cooperate to bring accountability to international development institutions and to promote national ownership of economic policies. These are ambitious but realizable goals, concludes the Commission, and failure to achieve them will risk further insecurity and war. – YaleGlobal