Bob Cropf

The Section on Globalization for this Weeks Class

In miscellaneous on February 2, 2009 at 7:25 PM

The main reading for the Globalization lecture this week is “Why Revisit Public Finance Today?” For the other one “Making sense of Globalization” only read section 2 from p.17 to 32.

The learning objectives for this week’s globalization lecture will be to understand what globalization is and how global issues are increasingly affecting local policy considerations, creating a need for a broader view for public Finance (the new public finance).

National policy choices and decisions are determined by among other considerations, “public (social) goods. In a globalized world, we are increasingly hearing of the concept of “global public goods” which include several issues such as health, environment/global warming, security/terrorism, global financial stability, etc. By the end of the lecture we should grasp the complexity of providing such global public goods in the absence of a global government (with many sovereign nations), and also the fact that the global mobility of capital and labor are decreasing the degree of latitude in policy making for national governments (like the US). How should such goods be financed in the absence of global taxation? How are nations and institutions responding to these issues?

As you think about this section, consider what responses various theorists we have discussed in class so far would provide to Globalization.

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