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Tweaking Globalization to Eliminate Inequity

Globalization was the economic buzzword of the 1990′s. But while globalization contributed to unprecedented levels of wealth in the U.S., the hopes that free trade and multinational corporations would lead the Third World out of poverty were not realized. The richest 20% of the world controls 80% of the world’s wealth, and trends are showing the gap between rich and poor countries is only getting wider. Classical economics would argue that free trade and globalization should be good for all parties involved. But as the U.S. has ridden along in its economic limo, much of the world continues to languish in poverty. This disparity could partly explain the anger that has made the U.S. a target for terrorism. Is there a way to tweak the current model of globalization to create a more even distribution of wealth?

Guests:

Richard Parker, Senior fellow at the Shorenstein Center at Harvard University

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Apr 18, 2014
Russian President Vladimir Putin speaks during a nationally televised question-and-answer session in Moscow on Thursday, April 17, 2014. President Vladimir Putin has urged an end to the blockade of Moldova’s separatist province of Trans-Dniester. Trans-Dniester, located in eastern part of Moldova on border with Ukraine, has run its own affairs without international recognition since a 1992 war. Russian troops are stationed there.  (AP)

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Apr 18, 2014
This undated photo provided by NASA on April 2, 2014 shows Saturn's moon Enceladus. The "tiger stripes" are long fractures from which water vapor jets are emitted. Scientists have uncovered a vast ocean beneath the icy surface of the moon, they announced Thursday, April 3, 2014. Italian and American researchers made the discovery using Cassini, a NASA-European spacecraft still exploring Saturn and its rings 17 years after its launch from Cape Canaveral. (AP)

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Apr 18, 2014
Russian President Vladimir Putin speaks during a nationally televised question-and-answer session in Moscow on Thursday, April 17, 2014. President Vladimir Putin has urged an end to the blockade of Moldova’s separatist province of Trans-Dniester. Trans-Dniester, located in eastern part of Moldova on border with Ukraine, has run its own affairs without international recognition since a 1992 war. Russian troops are stationed there.  (AP)

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