Module 2 Wiki-Gloria L. Older
Has Globalization Contributed to the Current Global Economic Crisis?
http://www.ncpa.org/pub/ba278

Summary: The current economic crisis facing the world today leaves little doubt that globalization is having a major impact of national financial institutions and people.

Background:
In a recent presentation focused on “Financial crisis and globalization: economic and political perspectives” Professor Mario Deaglio, an Italian expert in economics, reported that the global economic slowdown is starting to move beyond the major financial markets (Western nations) and impact on real jobs. For example, recent unemployment figures in the UK show that just over 1.8 million people are now out of work. The picture is similarly dismal elsewhere, with unemployment figures in the US, France and German also making for grim reading. What Deaglio is saying is that the slowdown impacts everywhere because of the connected nature of the world's economy.

The current global economic crisis is expected to lead to painful cuts in the wages of millions of workers worldwide in the coming year. It appears that slow or negative economic growth, coupled with highly volatile energy and food prices, will erode the real wages of many workers, particularly the low-wage and poorer households. In his presentation, Professor Deaglio analyzed the current situation from a microeconomic point of view. He notes how the "current economic crisis" was actually triggered by the crisis of the so-called "sub-prime lending" in the US.

Conclusion:
The effects of globalization on the world economy cannot be summed neatly like entries in a Profit and Loss ledger. One thing is very clear, however, the working people of the world are in for a long, rough ride. Future anthropological studies will focus on the impact this world recession or depression has had on the people.

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is anthropology a cosmopolitan subject?

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