Globalisation: the facts behind the myth

Article Abstract:

The concept of globalization is widely misinterpreted, especially by those who wish to exploit it to their own advantage. Governments often blame global market forces for their apparent inability to deal with problems such as arms exports, for example, and companies often attribute policies that are detrimental to staff to the need to stand firm against global market forces. It is certainly true that global forces have emerged, but it cannot justifiably be claimed that there is a global world market place in most commodities.

Administration of General Economic Programs, Intnl Economic Policy, International economic relations

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Pensions need to redistribute human capital

Article Abstract:

Human wealth is largely uninsurable, a fact which has serious implications for the desirability of various pension arrangements and for the role of state pay-as-you-go schemes under which pensions are funded from taxes. Human capital in real economies cannot easily by traded, and this significantly restricts the portfolio decisions of private insurance agents. This must be taken into account when considering how far to go in privatisting the welfare state.

Economic aspects, Finance, Pensions, Welfare reform

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Why society has reason to bless the risk-takers

Article Abstract:

People who are prepared to take risks such as going into a job with uncertain salary prospects or taking further training with no promise of a job at the end make a valuable contribution to economic development. Taking risks generates wealth for society as a whole, not just the individual risk-taker. This has an impact on approaches to welfare spending, as welfare benefits should be made available in such a way as to encourage people to take risks.

Risk (Economics), Economic development

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