Globalisation, for me, seems to be not first-order harm, and I find it very hard not to think about the billion people who have been dragged out of poverty as a result.
Interpretation
Globalization has helped lift millions out of poverty, outweighing its negative impacts.
In this quote, Angus Deaton reflects on the positive effects of globalization, emphasizing that despite its flaws, it has played a crucial role in improving the lives of a billion people who have escaped poverty. He suggests that the benefits of globalization, particularly in terms of economic advancement and poverty alleviation, are significant enough to overshadow its first-order harms.
In practice
In a discussion about the impacts of globalization on developing countries.
My work shows how important it is that independent researchers should have access to data so that government statistics can be checked and so that the democratic debate within India can be informed by the different interpretations of different scholars.
Economic growth is very important, but it is not the only thing, and it must be accompanied by sharing with those who are left behind, through effective social services and provision.
I truly believe that capitalism was created to help people live better lives, but sadly over the years it has lost its way a bit. The short-term focus on profit has driven most businesses to forget about the important long-term role they have in taking care of people and the planet.
My premise is not to tax to destroy the wealth of the wealthy; it's to increase the wealth of the bottom and the middle class.
In the Imperialist Era, the foreign loan played an outstanding part as a means for young capitalist countries to acquire independence.
There is always some chance of recession in any year. But the evidence suggests that expansions don't die of old age.
A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction.
Burdening people with debt is an old deal not a new deal.
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