The Age of OBLOGMA

Globalization needs more government intervention according to The Washington Post article, “Globalization Requires Safety Net, U.N. Says.”   The economies in the developing world are plagued with food riots, soaring prices of food staples like wheat, and the rising income inequality.  The article states that no one is immune from the “cruel consequences of global economic forces” and “governments should do more, both individually and collectively, to protect people from their harshest impacts.”

                The issue of capital flow and how money may benefit or cause a developing nation to further make it a dependant country has been a prevalent issue in our class readings and discussions.  The U.N.’s World Economic and Social Survey taken in 2008 called for a significant change in international capital flows by means of greater regulation, more foreign aid, and a minimum income guarantee for the world’s poorest residents. 

                The IMF Director Dominique Strauss-Kahn is quoted as saying “If food prices rise further and oil prices stay the same, some governments will no longer be able to feed their people and at the same time maintain stability in their economies.”   The idea that some governments won’t be able to maintain stability is alarming.  Stability within a country is detrimental to that country being able to progress and prosper.

As we have discussed, even the most poorest of developing nations with backwards governments are able to prosper because of stability within their borders.  Lack of food or basic life necessities could result in revolt’s and just promotes inequality already existent in an unequal world. Inequality is another factor that causes instability and triggers violence and social unrest.