POLI 441 POLITICAL ECONOMY OF AFRICA S DEVELOPMENT SINCE INDEPENDENCE SESSION 10 : GLOBALIZATION AND AFRICA S DEVELOPMENT II Lecturer: Dr. Seidu Alidu Contact Information: smalidu@ug.edu.gh /seidualidu@gmail.com College of Education School of Continuing and Distance Education 2014/2015 2016/2017
Session Overview Sequel to the discussion done in session 9, session 10 will look at practical examples of the theoretical discussions explored in the previous session. It will practically explore the relevance of the conceptualization, typologies and nature of the concept on Africa. It will draw up a balance sheet, literally, of the achievements and challenges of the concept of globalization to Africa s policy formulation and development. 2/28/2018 Lecturer: Dr. Seidu Alidu Slide 2
Session Outline The key topics to be covered in this session are: Topic 1: GLOBALIZING AND A GLOBALIZED ECONOMY Topic 2: MERITS OF GLOBALIZATION Topic 3: DEMERITS OF GLOBALIZATION Topic 4: DEVELOPMENTAL IMPLICATION Lecturer Dr. Seidu Alidu 2/28/2018 Slide 3
Reading materials Wolf, M. (2004) Why Globalization Works, New Haven: Yale University Press (Chp. 2, What Liberal Globalization Means, pp. 13 22; Chp.7, Globalization in the Long Run, pp. 96 105) Stiglitz, J. E. (2002) Globalization and its Discontents, New York: W.W. Norton and Company (Chp. 9, The Way Ahead, pp. 214 252) Wade, R. (2005) Globalization, Poverty and Inequality in Ravenhill, J. (ed) Global Political Economy, Oxford: Oxford University Press Boafo-Arthur, K. (2003) Tackling Africa s Developmental Dilemmas: Is Globalization the Answer? Journal of Third World Studies, Vol. XX, No. 1, Spring, pp. 27 54 Slide 4
Learning objectives At the end of the session, students should be able to: Understand the concept of globalization Recall the types of globalization and their manifestations Appreciate the theoretical assumptions of underlying the concept Become familiar with the drivers of globalization and their forms Appreciate the role and contribution of globalization to Africa s development Slide 5
Topic one GLOBALIZING AND GLOBALIZED ECONOMY Slide 6
GLOBALIZING AND A GLOBALIZED ECONOMY Academics, among them Gilpin (2001), Hirst and Thompson (1999), Garrett (2000) Scholte (2000) and Giddens (1990), distinguish between: globalizing world economy and a globalized world economy in relation to globalization as a process or an outcome. Slide 7
GLOBALIZING AND A GLOBALIZED ECONOMY The distinction between becoming and being reflects globalization as a historical process and globalism as the resulting condition at any particular historical moment. Globalization as an evolving concept has economic, political, social, cultural, religious and security implications to Africa s development Slide 8
Topic Two MERITS OF GLOBALIZATION Slide 9
MERITS OF GLOBALIZATION Guarantees multilateralism of decision making at the global level through political unions and institutions Promotes democracy by removing illiberal and undemocratic regimes Regulating market, business and international trade at the global level Increasing interconnectedness at all levels of human endeavour Slide 10
MERITS OF GLOBALIZATION Increasing cultural and religious acceptability through global travel and tolerance Instilling global norms, ethics and citizenship Fighting global wars, fundamentalisms and increasing global cooperation Slide 11
Topic Three DEMERITS OF GLOBALIZATION Slide 12
DEMERITS OF GLOBALIZATION Destroys the ability of states to regulate their national economies, raise taxes and spend money on public goods and social welfare Undermines democracy by imposing the rule of unaccountable bureaucrats, markets and predatory private corporations Caused mass destitution and increased inequality within and between states Destroys the livelihood of peasant farmers Deprives the poor of affordable medicine Lecturer: Dr. Seidu Alidu 2/28/2018 Slide 13
DEMERITS OF GLOBALIZATION Lowering real wages and labour standards and increasing economic insecurity worldwide It enshrines greed and motive-force of human behavior Destroys the environment, eliminating species and harming animal welfare Destroys the variety of human culture Lecturer: Dr. Seidu Alidu 2/28/2018 Slide 14
Topic Four DEVELOPMENTAL IMPLICATION Lecturer Dr. Seidu Alidu 2/28/2018 Slide 15
DEVELOPMENTAL IMPLICATION The role of colonialism in political balkanization and economic stagnation of the continent Neo-colonialism and Africa s development The role of giant multi-national co-operations in Africa s globalization process Is globalization a new mechanization for the continued exploitation of Africa? Slide 16
References Wolf, M. (2004) Why Globalization Works, New Haven: Yale University Press (Chp. 2, What Liberal Globalization Means, pp. 13 22; Chp.7, Globalization in the Long Run, pp. 96 105) Stiglitz, J. E. (2002) Globalization and its Discontents, New York: W.W. Norton and Company (Chp. 9, The Way Ahead, pp. 214 252) Wade, R. (2005) Globalization, Poverty and Inequality in Ravenhill, J. (ed) Global Political Economy, Oxford: Oxford University Press Boafo-Arthur, K. (2003) Tackling Africa s Developmental Dilemmas: Is Globalization the Answer? Journal of Third World Studies, Vol. XX, No. 1, Spring, pp. 27 54 Slide 17