The Seamy Side of the Global Economy

Abstract

Revolutionary developments in technology and the deregulation of borders and economies have enhanced efficiency, stimulated growth, and expanded opportunities for four to five billion people around the world to join the market-oriented global economy over the last generation. But the global economy also has a seamy underside often neglected in academic discussions. This article offers a brief introduction to some of the problems that challenge governance and social stability in the generation ahead. It examines how globalization has multiplied opportunities for organized crime and terrorists; increased human trafficking, as well as forced and child labor; benefited sweatshops; expanded the flow of unsafe food and products; and contributed to environmental hazards. Because of the many complex and controversial issues involved, and the limited data publicly available, the author seeks only to survey current conditions, to identify relevant sources, and to encourage future scholarly research.