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The Road to Global Prosperity Essay Example

The Road to Global Prosperity

The author’s ideas prove that free trade can benefit the nations that dominate international trade. The author’s ideas are applicable to the big players in the international market. On the other side, the author does not point out any solution for the problems faced by the less developed nations. One can see that free trade relations related to globalization do not help the less developed nations because these nations fail to compete with the developed nations in the international market. To be specific, the developed nations can provide economic aid to their international companies in the form of subsidies. On the other side, the people in underdeveloped nations depend upon subsidy for food security. 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.

preview essay on The Road to Global Prosperity
  • Pages: 3 (750 words)
  • Document Type: Book Report/Review
  • Subject: Literature
  • Level: Business School
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