Globalism Amartya Sen and Muhammad Term Paper

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Inspiring poor communities to regain or preserve their self-sufficiency is one of the only ways to mitigate the problems associated with globalization. Globalization can be a liberating force, opening small markets up to the world. If Yunus were to lend money to poor women in a closed market system, their businesses would not thrive or grow and the potential to create vast amounts of wealth for the community would dwindle. Therefore, the global market economy has the potential to foster wealth in the poorest regions of the world.

Large multinational corporations may end up in symbiotic relationships with small, local companies. Small local companies can deliver goods and services, serving as ancillary support systems with intimate knowledge of the local culture and community. Small businesses are a potentially invaluable asset, not only by diversifying local economies but also by adding sources of supply, distribution, and retail outlets for products and services.

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In turn, large corporations may help the smaller businesses by engaging in lucrative contracts or by attracting more foreign direct investments. The presence of a large multi-national corporation can draw attention to smaller businesses too.

Sen and Yunus are not being paradoxical when they put forth globalization as an antidote for poverty. Their views are simply optimistic. Understanding the power of globalization to transform the world in a positive way, Sen and Yunus both suggest that poverty can be reduced or even eliminated by capitalizing on the wealth of human and cultural capital that already exists. By moving away from a model that elevates gigantic multinational corporations, economists and politicians can join forces to ensure that communities thrive......

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