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Question 8: ProsperityWhat should Canada do to help make the benefits of globalization more widely
shared within and among all countries? |
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| Contributor: | russilwvong |
| Date: |
2003-05-01 01:39:43 |
| Answer: |
Lowering tariff barriers and increasing foreign aid will be helpful, but economic development is a pretty tough problem. Krugman and Obstfeld suggest in "International Economics" that *high domestic savings rates* were a major factor in the "East Asian miracle". Free trade isn't going to help a country which doesn't have a high enough savings rate to be able to accumulate capital.
John Paton Davies Jr. makes a similar point in "Foreign and Other Affairs."
In short, we should do what we can to help the developing countries, but we should also recognize that our influence will be limited. It's mostly up to the developing countries themselves.
I'd suggest that "Seeing Like a State" (James Scott), "Disasters and Development" (Fred Cuny), and "Adventures in Chaos" (Douglas Macdonald) should be mandatory reading for anyone interested in addressing the problems of the Third World. |
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