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The Political Economy of Social Justice

The Political Economy of Social Justice

Dr.R.Murali

Head of the Department of Philosophy and Philosophical Research Center

The Madura College (Autonomous), Madurai -625 011.

"Never doubt that a small group of thoughtful, committed citizens can

change the world. In fact, the only thing that ever has. "- Margaret Mead

I

Social justice refers to conceptions of justice applies to entire society. It is based on the idea of a just society which gives individuals and groups fair treatment and fair distribution of the benefits of society. Therefore, ethics has many areas of operation. The economy is a major area of ethics. According to Aristotle, the economy is a practical expression of ethics-one basic virtue rooted in justice. This concept of justice has been described as distributive justice or a fair share for everyone. In other words, the concept of justice was accepted as social rooted in a basic ethical or simply common sense and economics can not be separated from it. Similarly, the economics and politics are inseparable. Social justice is both a philosophical problem and an important issue in political economy.

One can argue that everyone wants to live in a just society, but different political ideologies have different conceptions of what a "just society" really is. The term "Social justice" itself tends to be used by those ideologies that they believe today's society is very unfair – and these are usually left ideologies of wing, calling for wider use of democracy and the redistribution of income and a more egalitarian society, or a mixed economy or an economic model not based on the market. The right has its own conception of social justice, but in general believes it is best achieved by covering the meritocracy, the functioning of a free market and promoting philoanthropy and charity. Both the right and left tend to agree on the importance of the rule of law, human rights and some form of a social safety net (though the left supports a greater degree than the right).

Social justice is also a concept that some use to describe the movement towards a socially just world. In this context, social justice is based on the concepts of human rights and equality. So a very broad definition social justice is that "social justice reflects the way in which human rights are manifested in the daily lives of people at all levels of society." Can take more than work towards a world where all members of society, regardless of their origin, have basic human rights and equal oppurtunity access to the benefits of their society.

Many philosophers like Thomas Aquinas, Locke, Bentham, Mill, Kant and others have discussed the problem social justice in their work. In the last part of the twentieth century, the concept of Social Justice has been largely associated with the political philosopher John Rawls (1921-2002) that draws on the utilitarian ideas of Bentham and Mill, the social contract ideas of Locke, and Kant's categorical imperative ideas. His first statement was made in early A Theory of Justice (1971) which proposes that "Each person possesses an inviolability founded on justice that even the welfare of society as a whole can not prevail. For this reason, justice denies that the loss of freedom for some is made right by a greater good shared by others, "an ethics proposal which echoes Kant in the formulation of the moral good of justice in absolutist terms. His views are definitively restated in Political Liberalism (1993) where society is seen "as a fair system of cooperation over time, from one generation to another." (At p. 14).

Together these philosophers go further and argue that social justice is just redistribution of wealth, power and status for the individual, community and the good society. Some Others contend that the government (or those with significant power) responsible for ensuring a basic quality of life for all its citizens.

Therefore, it is clear that the economic policies of the society are very closely related to social justice. It is also true that today the world in many social justice advocates are in a state of despair. Some of them fear that the social justice is a lost cause in a global economy.

II

Liberalism: the social justice and economic freedom

Liberal capitalism, economic super, all the dominant model that is promoted and practiced throughout the world today has been a severe critic examined by economists, not only due to economic recession, but especially for the value systems of destabilization in the country and becomes responsible for the injustice social life throughout the world.

Friedrich Hayek, Nobel Laureate in Economics and a leading advocate of the twentieth century liberal capitalism, once stated that "… Nothing has done more to destroy the legal guarantees of individual freedom as the effort after this mirage of social justice. "I do not have to spend a great amount of time in his reading of jaundice in the history of struggles for social justice. What is, however, worth noting is his unequivocal presumption that social justice and the freedoms we in modern capitalism are not only different from each other, but antagonistic to each other.

Sam Gindin in his article on "Anti-capitalism and the field of Social Justice" harshly criticizes Hayek's position. He says what many others have hidden Hayek and his credit is felt directly, is that inequality is not an unfortunate aberration under capitalism, but an inevitable result and a prerequisite for successful economic performance. Capitalism is, and this is surely as clear today as it ever was-a social system based on class and competition. Such a society not only inequality of outcome guarantees, but as the results of inequality are transmitted through the institution of family and space divisions uneven capitalist development, inequality between and inter-generational play. This leads to unequal opportunities decisive.

No wonder, then, that most lucid advocates of capitalism thus try to shift the terrain of the debate over the legitimacy of capitalism notions of distribution and equality of opportunity, social justice, to notions of individual freedom and especially freedom of the market. Gindin notes that the individual is placed in the center of a world in limiting the concept of community or state collective-old nemesis of liberalism. Liberalism seeks to limit the state power not only by the rule of law, freedom of expression and association, and elected legislatures, but also and above all for the rights of property the sanctity of contracts in trade and the protection of the private spaces of the family to enjoy the fruits of the property and labor.

There is no denying the appeal of great practical significance of this structure. Both civil and political rights and economic dynamism without historical precedent and the possibility to raise living standards rested on it. However, the reality of class inequality behind this structure might not be so easily set aside. Contradictions liberal justice rest on the fact that a market economy creates a market society, and that private property is never a relationship between people and things, but a relationship between people. Historically, the creation of markets and private property were not as liberal mythology tends to present a question of getting the state to one side as natural human propensities could unfold. Private property in particular, emerged with the support of an absolutist state controlled by landed interests, which asserted outright ownership rights which had previously been constrained by traditional obligations. Those interests, backed by the State, by force the lands expropriated land before, accessible to the community for private use only. The need to reproduce these types of private property rights and privileges that need a permanent means strong and active, and class bias of state. Today, the drive to deepen and extend these rights take the form of neoliberal globalization.

inequalities of capitalism, it is crucial to emphasize, not simply some time more and others less, but rather that capitalism represents economic freedom means ensuring different for different kinds of freedoms people. For a minority, focuses on economic freedom the power to organize the production and accumulation, moreover, the freedom to sell their productive potential in a labor market and, on the basis that, to exercise some personal choice in consumer markets. What the minority are accumulating as part of their freedom includes power over the work of others and therefore more of their "individuality." Freedom / power to sell the productive potential and to exercise an option in consumer markets, however, is based on a dependency on those who provide jobs and basic goods available for consumption.

The neoliberal response set out to undo the historically acquired social boundaries that has redefined liberalism in practice in the postwar era. Neo liberalism called a strategy that clearly sought to put capitalism back on the track of development still incomplete, accelerating the drive to commodify, and therefore open all aspects of life benefits and social discipline imposed by profit. This was not just a question of the spatial extent of markets ('globalization') but the deepening of the internal market penetration in any social space, personal or cultural that had previously managed to escape subordination a capitalist calculation. Because democracy tends to recreate the protections against anti-social logic of markets, the implementation of neoliberalism also required a decrease in one way or another, in a functioning democracy.

It is important to note some important criticisms against neoliberalism by his own supporters. Joseph Stiglitz, former World Bank economist and Noble Prize winner in economics in 2001, which is a strong supporter of globalization, states that "Globalization today is not working for many of the world's poor. It is not working for much of the environment. It does not work for the stability of the global economy. "Write on the basis of this observation: "I've seen change dramatically in my view of globalization and development … I saw firsthand the devastating effect that globalization may have on developing countries. "Stiglitz accuses the West of" acting through the IMF and WTO – has been seriously mismanaged the privatization process, liberalization and stabilization, and his advice in the Third World and former communist states are actually worse than before.

George Soros, another architect of Globalization points out that "we have global markets but we can not build a global society without moral considerations" He says U.S. is the main obstacle to international cooperation today. Strongly opposes any international agreements that infringe on its sovereignty. The list is long as the International Criminal Court, the Landmine Treaty, the Kyoto Protocol, many of the conventions of the ILO conventions and many more arcane as the Law of Sea Convention and the Convention on Biological Diversity. So said that the pursuit of hegemony is in direct conflict with the vision of a global open society. U.S. wants be a stationary engine.

So it's not just eliminate poverty, but reducing inequality. The first is impossible to solve unsolved the second. The real problem, again, is not absolute resources but the social distance and different degrees of control over their own resources. And this is true in all societies.

In this context, see Habermas adds a socio-cultural dimension to the political economy. Habermas does tie economic globalization and global terrorism, but does not believe that the latter is ultimately a manifestation of a clash of cultures. Instead Habermas regards global terrorism as a economic base reaction of the gross inequities perpetrated by globalization. Accordingly, Habermas regards global terrorism as the result of a ruptured communication and as only amounting to an external threat to modernity.

This gives the liberal sociologist Richard Munch reason to fear us face with the depletion of nonrenewable resources, cultural alienation on a massive scale, and social explosions if achieved politically in fencing in markets that are, so to speak, fleeing weakened and overburdened nation-states.

As Habermas wrote in 1997, globalization "Threatens to dissolve the social glue that holds together and fragmented national societies." In Germany, glue questions of nationhood, national identity and culture, along with the search for a "social union, have emerged as challenges of globalization, the possibility that the process of national unification. Anti-globalization there, as elsewhere, seeks to protect local identity, economy and culture of both the EU and the most powerful American empire .

For Amartya Sen, the central issue of contention is not globalization itself, nor is the use of the market as an institution, but inequity in the overall balance of institutional arrangements – which produces very unequal sharing of the benefits of globalization. He said that the issue is not just whether the poor also gain something from globalization, but if they get a fair and a fair chance. There is an urgent need to reform institutional arrangements – in addition to national – in order to overcome both the errors of omission and commission which tend to give poor people around the world, limited opportunities. Globalization deserves a defense reasoned, but it also needs reform.

III

Globalization: Way to injustice

Globalization has not only affected all aspects of human life, but also influenced the social, greatly. It works irregular and uneven. The neo-liberal economy, namely, liberalization, privatization and globalization has further aggravated inequality and inequality in society. The small minority of the world population owns most resources and most people are locked in poverty.

Before melting, had 1.3 billion desperately poor people worldwide who survive on less than $ 1 per day. There were other 1.5 billion poor living on $ 2 a day. This means that 2.8 billion, almost half of the world family is living on $ 2 a day or less (Sider, 2002). But today, things have gone worse.

Many have no access to drinking water (1 mil.) And they have no access to improved sanitation (2 mil.). These poor public health conditions cause approximately 34,000 children die every day from diarrhea and other easily preventable diseases (Sider, 2002).

In response to the question "What is globalization?" Susan George, head of the Observatory of Globalization Paris, associate director the Transnational Institute in Amsterdam, and author of nine books, said there is already a world government – which is not democratic, and a group of people can change the future of others who do not participate in making decisions. Its aim is to put all human activities in the market, including education, culture and health. Globalization is responsible for pushing up the wealth both between countries and within countries. Since 1980 every country has experienced an increase in inequality. 85% people live in countries where inequalities are increasing and this includes China, Russia, Western Europe and E. Europe and the U.S., and the inequalities are increasing between the North and South.

He gave the illustration of the champagne glass up, showing 20% of humanity capture 82% of wealth while 80% below the graph must get along with 1.3% of world population wealth. These inequalities are becoming more extreme. There are currently 485 billionaires in the world, who control the wealth equivalent to half the world. And only three of those billionaires control wealth equivalent to the domestic industry from 48 countries.

These inequalities have drastic consequences. The recent series of financial crises was due to institutional investors world. The "act electronic herd" all at once, for example, someone said that Thailand is not doing very well or Mexico and execute all the door the same time. Then there is the financial crisis and the IF intervenes to say what the country should do. He emphasized "rules sets if they kill people common. For example, in Mexico after the financial crisis of 1995 28.000 small enterprises failed because he could not keep up with interest rates imposed on them. Half of Mexico is now living below the poverty line. In Indonesia, after the financial crisis, 20 million people who thought they were becoming middle class were violently pushed into poverty. In Russia, 4% of people used to be classified as very poor, but now there are no rules as the "market" is supposed to do everything that 50% live in poverty. Everywhere, health, social and educational structures have been reduced by the structure adjustment. Now there is only one leftist ideology in the world after the collapse of communism.

Who are the managers of the global system? The power behind the throne is the large multinational corporations. They do not want to rule directly make it through the World Bank, IMF and WTO. These corporations also support the UN. Kofi Annan, has signed the Contract with Global 50 multinationals, many of which have terrible human rights records of damage.

The system works well for 10% of the world population population but not for anyone else. The central political issue of our time is changing. Used be a hierarchy, which are in the hierarchy – a king or a beggar, that was the fundamental organizing principle of politics. Over the past 100 years or so the central political question is – Who will get the biggest slice of the pie? Elements of both of them – the hierarchy and the share of the pie – Remain today. But the new question is "Who has the right to survive?" and "Who has not? Now there are hundreds of millions of people in the world that do not contribute to the market as producers or consumers. Do you have the right to survive?

The first thing people have to understand is that current system is not the only option. God never told Moses that globalization should dominate the world. There are many possibilities.

IV

Melt down: Lessons

All of a sudden turn in the economic scenario of the world shook everyone. It's amazing that until the other day, the country if after coming from North America or Europe or Africa or Asia held its constant increase in the rate economic growth, greater access to information technology and its population increase from suddenly getting traumatized by the possibility of getting swept in the current regression and the deepest depression that took place in the 1930s and the financial meltdown in the U.S. initially set and Europe. "The global financial system is in deep crisis and unprecedented. Central banks and governments around the world face many complex and pressing challenges. The have serious disturbances in the money markets. Stock markets around the world have been in free fall and has not been extreme risk aversion in all financial markets. Policy makers around the world are responding with aggressive, radical and unconventional measures to restore confidence and stability to provide System. "(The October 27.2008 Hindu Editorial).

One major impact of this financial crisis in the assessment of Krugman is that advanced countries are likely to fall near zero growth next year with the global economy growing at only 3 percent. Fears that this in turn to below will be deep and prolonged as it was in 1930.

As the financial crisis continues to batter economies around the world, rescue packages of different governments globally is nearing the U.S. dollar 3000000 million range about three times the size of the Indian economy. The government of the United Kingdom in the first week of October came up with a mammoth 500 billion pounds mainly rescue package to shore up the fortunes of the nation's banking sector. Russia also approved a series of measures with an estimated value of U.S. $ 86 billion to save the country's banks hit by the credit crunch. The European Union pumped 1.7 trillion euros for the subscription of banks. In addition, a handful of European countries have also already announced packages for a similar amount in efforts for its troubled financial institutions. In fact most of the world's central banks moved to flood the system with money is not that should not occur collapse.

Describing the situation Krugman noted: "All signs point to an economic slump that is undesirable, brutal and long. "

Japanese Prime Minister also announced as Tar 27000000000000 Yen Stimulus Package on 30 October for the world's second largest economy, including credits and loans to help small businesses, a reduction in highway tolls and pay cash to homes. He said the financial outlook is severe and that the global financial crisis is almost certain to affect Japan's real economy.

The loads and effects of this so-called financial tsunami is not just cutting around the world but more importantly it cuts across all aspects of life and, in particular the poor and depressed society in most everything, every part of the world that includes rich nations like the U.S. and Europe. According to the Director General of the International Labour Organization (ILO), Juan Somavia, in an article he wrote for Times of India (October 25.2008) "The impact of the crisis in life, working conditions and hopes of millions of people will be strong and systemic. Stop the crisis would require going beyond the financial system. This is not simply a crisis on Wall Street, is a crisis on all streets. "

Speaking of loads, Keep in mind the results of a recent estimate of the impact made by the ILO. In its estimate of the global unemployment rate could increase by DM 20 million unemployed in the world for the first time. People working in sectors such as construction, automotive, tourism, finance, services and real estate will be hit hardest first. What is more worrying, according to this estimate ILO, Juan Somavia cited the number of working poor living on less than a dollar a day could rise by 40 million and those living with trailer U.S. $ could increase by more than 100 million dollars. It may be of crucial importance to note that the job cuts are not happening only in the cities, industry or elite services and not just the crisis on Wall Street are even traveling to rural India and even the home of small scale and handloom industries and other small occupations. According to reports (Times of India October 24, 2008) thousands of skilled workers in two small towns, 100,000 in Moradabad (UP) and 25000 in Panipat (Haryana) have been laid off after orders from their global markets especially U.S. dried and Europe this month. In Moradabad, craftsman skilled in the art of centuries of craft European and American brass showrooms are pulling cycle rickshaws and selling fruit. Panipat, from where rugs, bedding and other textiles to finish in U.S. stores Wal-Mart has weavers migrating or working at jobs that now pay 1/18th what they did. According to K. Subrahmanyam in the Times of India 28 0ctober 2008, a large number of employees in the toy factories in China have not only been expelled from their jobs but have been denied payment of arrears due to slowdown economic in the West. Again according to various estimates including byu own U.S. government agency job cuts and rising unemployment level has aroused great sense of insecurity among ordinary Americans. So the voice is loud and clear that the crisis is not just financial or country focused, global, and one that has the potential devastate the lives and livelihoods of up to an average member of humanity in many parts of the world.

Today an unprecedented global food crisis coexists with financial collapse and a recession that could turn into a recession. UTSA Patnaik said: "The domination of finance over industry and the search economic policies that encourage financial capital at the expense of real economic growth in particular to put the basic necessities required by the masses. The domination of finance in the modern world and its ideology known as liberalism and neo has been evident since 1970. It also might call neo-deflation, by the ideology of finance capital always involves policies to deflate the level of massive demand. "(People's Democracy-November 3, 2008)

• If it is development or economic recession, ordinary people around the world are terribly affected by globalization.

· When capitalists in crisis, seeking immediate intervention of the state social. for example. Bond fashion packages that are now in the U.S., UK, Germany and elsewhere. Whereas when you are in the monstrous growth based on social injustice, insists the state to keep out of their control and interference. Crisis control measures taken on the basis of applicants for benefits in this supernatural high established capitalist system.

From the foregoing it is clear that the process of globalization that began in the U.S. and tastes from the beginning of 1990, or can be a little above is a misnomer. The process has stopped making the world as one. It remains divided between the developed, wealthy, powerful and rich on one side and those who have no other, United States and its allies represent unipolarity and the monopoly economic power, trade, commerce and the market. The notion that the globalization process would ensure the prosperity, progress, peace and security resulting one global family, or so during our early period has been called "kutumbakam Vasudeva 'not found. The process of globalization has produced undoubtedly global unity, but only the unity of the class and type only namely 'an economy' world-an economy whose center of gravity of its point of support-mechanism control and drainage of its fruits resides only in one place. It is this type of global economy with global interconnection largely based on the fundamental ideas of capitalism and the absolute free market resulted in financial crisis in one place and is held a monopoly on the world market, namely the U.S., ultimately, and because their interconnection surrounded almost all nations. This undoubtedly affected the richer nations, but he brought with him an enormous potential to pierce even the livelihoods of poor nations and the poor, even in the richest societies.

It's too late for this time of day to reverse the cycle globalization. At the same time the kind of globalization and free market philosophy practiced and professed may be dangerous not only for poor nations, but also for the super power itself. The anger and the kind of civil unrest situation in the U.S. crisis as a result of her testimony. The kind of globalization has continued for some time now that brought prosperity is largely misleading the result of the culture of consumerism, selfishness, excessivism, greed, lust and total loss of ethics and values – is not the simple failure of financial policy. The fight against these threats of globalization and make it is currently practiced to serve the cause of humanity and human welfare is a complex and multidimensional program. It requires the replacement of the word monopoly, isolating and bring others with the consensus world, global cooperation and global concerns for humanity. Of course, would require the development of new types of regulatory mechanism, monitoring institutional structures ensuring that represent the collective wisdom and collective consensus, unlike the 'Bretton Woods Institutions (IMF, WB, etc) today that can be manipulated to budge. We are reminded of what Dr.Manmohan sigh when he addressed the ASEM, said, "The sad truth is that in this era of globalization we have a global economy ratings, but it is not supported by a global polity to provide effective government. "Speaking in the same direction the Commission Jose Barroso European said: "We are at a time when we need global teamwork, either stick or sink together." So, in summary, what we asking for is a case for global cooperation for an international economic order based on global consensus that works on the principles of fairness, equity and distributive justice and serves the cause of bringing prosperity, peace and security to each of the members of the global community.

V

What to do?

The State as an institution is to ensure social welfare and social justice to marginalized groups. Globalization has not only threatened but also became weak. State has retreated from its role of being. In the contemporary context, social justice agenda is taken up by non-state organizations that are critical. The old theories of social justice, which are inadequate or irrelevant, now can not cover the new developments that have taken place in the era of globalization and therefore have to be revised. Whether or not you see globalization as a positive or negative trend, which has led to a increased interdependence of world markets lead to economic increasing economic disparities between rich and poor of all nations. While development of rich richer at a pace faster and faster, the desperate poor are barely surviving.

Evolution global consensus on the nature of the globalization process desired and effective regulatory mechanism, the evolution of an institutional structure that is transparent and Unlike democratic Bretton Woods in the current decision-making remains opaque and controlled by a few powerful nations, ensuring that they behave responsible market society is so simple. It is a complex issue that requires participation not only of the states alone, of course, that is the most fundamental are essential, but also requires the commitment of political experiences, the social and economic expectations of different societies, and the evolution of opinion sensitive and reflective of the population and global citizenship and local levels. To summarize the evolution of consensus that the demand for construction and common understanding common approach of the new international economic order among all stake holders. In fact, it is this kind of commitment from political leadership to professionals universities and voluntary groups which eventually resulted in the institutionalization of the EU which initially seemed a reality. In fact, it is through such commitment to consensus on issues such as the common currency, common passport, common market, common human rights mechanism could Contracting a.

There is no doubt that this would require new knowledge base, different type of professional approach to address political, social, legal and economic in nature and more dynamic and responsive to public opinion globally and locally.

Some proposals to safeguard social justice:

· Equal and fair trade not free trade

• The education, medical care, social welfare should not be in the market.

¯ transnational corporations accountable for their actions throughout the world.

• It is very necessary to cancel third world debt and reduce the power of the WB and IMF.

· Since there has been important victories defeating multilateral agreement on investment. The value of Monsanto's agricultural division has been reduced to zero dollars, because people do not accept genetically modified food products. National coalitions are growing.

• The economic and political society are subordinate to human development.

• The consumption patterns and lifestyles of people should be shifted to healthy consumption. This may one day no for another or by decree, but will require a slow educational process, and in this the government should play an important role. The State's role is to establish standards for healthy consumption compared with pathological and indifferent consumption. There is so much need a humanistic science of man as a basis for applied science and art of reconstruction social.

• The production will be directed for the sake of sound production.

• A concerted effort to encourage the healthy appetite for consumption is likely to change consumption patterns.

• The production for use instead of profit should be the motto of the Government.

· Militant movement of consumers who use the threat of strikes by consumers

as a weapon. 20% of consumers can do wonders. The great advantage of the strike is that consumers do not require government action. Making power is essential. It could be a manifestation of a true democracy.

· Bureaucratic control of the force that could block the intake would only use all the inhabitants of hungrier.

• The value of other goods and services can be determined by the panel of psychologists, anthropologists, sociologists, philosophers, theologians and representatives of various social groups and consumption.

• The industrial democracy means that each member of a large industrial organization or another plays an active role and participate in making decisions.

• The government can greatly facilitate the learning process through grant the production of goods and services desired, until they can be produced profitably. A major educational campaign in favor of consumption itself would have to accompany these efforts.

· Democracy passive spectator to be transformed into an active participatory democracy. Political life requires maximum decentralization out through industry and politics.

• Participation active and responsible management also requires replacement of humanistic management bureaucracy. The completion of the new company and the new man is possible only if the old motivations of profit and power are replaced by new ones. Being, sharing, understanding, if the nature of marketing is replaced by the productive nature and loving; cyber If religion is replaced by the spirit new radical humanist.

· All brainwashing methods in industrial and political advertising should be prohibited.

· There is an urgent need to reform institutional arrangements – in addition to the national – in order to overcome both the errors of omission and commission tend to give poor people around the world, limited opportunities.

VI

How to do?

Strong political movements must be built on the process of class struggle must be conducted in each country. As Hugo Chavez said, "There can be simple movement of protest and celebration like Woodstock .. It is a huge struggle, an effort in which the organization and coordination are key ". This is the challenge of international intelligence and activists.

References:

Amartya Sen, "How Judge Globalism, "The American Prospect, vol. 13 no. 1, January 14, 2002.

Erich Fromm (1981) "Having or Being, Bantham Books, Nueva York.

Friedrich Hayek and the Economic Freedom of the Government Delegate, (Chicago: University of Chicago Press, 1976).

George Soros "Globalization" Public Affairs, New York, 2002.

Giddens, A. (1990) "The Consequences of Modernity. Stanford: Stanford University Press.

Habermas (2001) 'The Post-national Constellation: Political Essays, translated and edited by Max Pensky. MIT Press.

Held, D., McGrew, A., Goldblatt, and Perraton, J. (1999) 'Global D. Transformations – politics, economics and culture ", Cambridge, Polity Press.

Joseph E. Stiglitz. (2003) Globalisation and its Discontents, WW Norton Company, New York.

_______________. (2007) Making Globalization Work, WW Norton Company, New York, 2007.

Klein, N. (2001) "No Logo" London: Flamingo.

Kellner, D. (1997) "Globalization and the postmodern turn ', UCLA, http://www.gseis.ucla.edu/courses/ed253a/dk/GLOBPM.htm
Sam Gindin, "Anti-Capitalism and the field of Social Justice" Monthly Review, February 2002.

Smith, MK and Smith, M. (2002) "Globalization: The Encyclopedia of Non-Formal Education, www.infed.org / Biblio / globalization.htm.

Strange, Susan. (1996) "The retreat of the state: the diffusion of power in the economy World, Cambridge University Press.

· The Bretton Woods institutions are the World Bank and IMF (IMF). They were established at a meeting of 43 countries in Bretton Woods, New Hampshire, USA in July 1944. His goal was to help rebuild the shattered economy post-war and promote international economic cooperation. The original Bretton Woods agreement also included plans for a World Trade Organization International (OIC), but they remain inactive until the World Trade Organization (WTO) was established in the 1990s.

About the Author

Dr.R.Murali
Head
Department of Philosophy and Center for Philosophical Research
The Madura College(Autonomous)
Madurai-11 TAMILNADU, INDIA

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