Globalization, Oh That Versatile Villain!

The contemporary phase of economic globalization is regarded by some social scientists as a serious source of problems. There are others who, logically or illogically, consider it a negative, harmful, destructive, marginalizing and malevolent influence over economies and societies. No doubt, globalization can create opportunities for accelerating growth for the participating economies, but it can also pose myriad of challenges to and impose constraints on policymakers. In addition, it is justly blamed for uneven distribution of benefits from globalization. They are badly skewed within countries and between countries. Present policy environment is far from globalization-friendly. This paper focuses on the limitations of globalization in an objective and unbiased manner.