In short, the first idea put forth by the author proves that globalization benefits the dominant nations in the international context, but the author does not try to examine the negative effect of the same on underdeveloped nations. The author is in favor of the idea of globalization but ignores the fact that global financial crisis is related to globalization. To be specific, the author opines that financial crisis is a minor effect of globalization and is temporary. Still, the world nations are not totally free from the aftereffects of the financial crisis. One can see that globalization resulted in the privatization of government assets. Besides, there is no central authority to control globalization. But the nations that dominate trade within the international market possess upper hand in trade relations. When the lobbyists related to multinational corporations try to manipulate the political elite class, there is no hope for moral conduct in trade relations. So, one can see that the author’s ideas are applicable to the context of globalization, aiming to exploit the scope of free trade. But the other side of this sort of free trade is not analyzed or criticized in the work, and the same is the most vital drawback of the author’s ideas. The Road to Global Prosperity.
Works CitedMandelbaum, Michael. The Road to Global Prosperity. New York: Simon and Schuster, 2014. Print.
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