Globalization Requires the Greater Good to Be Put First

In government, the public good is decided either by democratic choice or the coercive decision of rulers. In either case, some decisions made for the public good inevitably go against the wishes of certain segments of the population. In local government, one can oppose decisions by voting in elections or picking up and moving. Global citizens have fewer options: Assessing and enforcing the public good is more challenging, governance is less sure and the losers have nowhere to go. Globalization demands that decisions on certain topics, such as trade and security, are made with the good of the global community in mind. To give international institutions the authority to enforce such decisions, however, national governments must be willing to let go of some regional or domestic interests, “for the good of the global club as a whole.” – YaleGlobal

Globalization Requires the Greater Good to Be Put First

A powerful argument in favor of globalization is that it raises living standards
Stephen King
Wednesday, September 20, 2006

Click here for the original article on The Independent's website.

Stephen King is managing director of economics at HSBC.

© 2006 Independent News and Media Limited