Abstract

In this essay, I want to look at certain ethical aspects of the way that globalization has proceeded in recent years. I shall argue that in the way that they have sought to shape globalization, the advanced industrial countries have violated some basic ethical norms. Elsewhere, I have argued for the reform of the institutions and policies which have governed globalization, that these institutions and policies, while they may have served the interests of the advanced industrial countries, or at least special interests within those countries, has not served well the interests of the developing world, and especially the poor within those countries. I suggested that unless there were serious reforms in governance, the legitimacy of the institutions would be undermined; unless there were serious reforms in the practices, their well may be a backlash. While there are strong forces pushing globalization forward - in particular, the lowering of transportation and communication costs - the forward march of globalization is by no means inevitable. After World War I, there were marked reductions in capital and trade flows (relative to the size of GDP). Today, within the developed world, there is a growing awareness of some of the darker sides of globalization, as terrorism too can move more easily across borders. But the developing countries have long experienced many of the other darker sides of globalization.

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