LO 5

Question 1

What does organisation for economic co-operation and development (OECD) do as an organisation?

Answer 1

Promote mutually supportive polices across a wide range of economic, social and environmental issues.

Question 2

What organisations accept globalisation, the neo-liberal economic consensus and promotion of polices reflecting of free trade, economic de-regulation privatisation, avoidance of large fiscal deficits, and wider concern with world poverty and economic developments in low income countries?

Answer 2

• OECD (Organisation for Economic Co-operation and Development)
• ILO (International Labour Organisation)
• IMF (International Monetary Fun)
• World Bank
• World Trade Organisations

Question 3

Name the critics of globalisation?

Answer 3

• Argue it’s features bring it closer to a disorderly global market, rather than an ordinary one.
• Dysfunctional effects of globalisation in terms of market creep, market failure, the individualising of intellectual property rights, the impacts on labour impact on the eco-environment.

Question 4

FACT

Answer 4

Gray argued- that globalisation cannot be contained in a single framework designed to reproduce the ‘American Dream’ with its ideal type of predatory, corporate shareholders capitalism.