Globalization, Privatisation and Market Economy

By Yogesh Kumar Sharma
Aavishkar Publishers | 2007 | ISBN: 8179102106
238 pages | PDF | 9.49 MB

PREFACE
Globalisation, privatisation and li!>eralisation have become dominant forces shaping societies and economies the world over. With the fall of communism and the decline of socialism in most parts of the world. These three processes are interrelated phenomena.

Globalised economies are likely to be more privatized and liberalised economies. Globalisation, privatisation and liberalisation are multidimensional phenomena that have implications not only for the
economic but also the sociocultural and environmental aspects of
countries and societies.

The three phenomena that form the focus of this volume also have differing impacts on different units of analysis. For purposes of understanding and analysing these three forces, the units of analysis can be conceived at regional, country, industry and organizational levels. The chapters in this book deal with all of these, reflecting the multilevel aspects of globalisation, privatisation and liberalisation
forces shaping world economies.

One of the major consequences of globalisation, privatisation and liberalisation is the acceleration in foreign direct investment flows. While foreign direct investment has been increasing for some time among the developed triad countries, in recent years it has spread to other parts of the world, especially to the giant emerging economies. The privatisation and liberalization policies pursued by these emerging economies have created new opportunities for foreign direct investment International investors now face difficult problems such
as choosing countries, evaluating risk-return relationships and assessing profitability in private and public sectors.

The Market is about economy. The Market is not what people do and think and how they interact when they buy and sell, give and take. Instead, it is a conception people have about an idealised form of buying and selling. This conception is important. It is invoked, implicitly or explicitly. It is invoked when the British debate selling state-owned industries or the Common Market or labour legislation.

These debates concern many issues and reflect many interests. However, running through them, on one side or another, is a claim and a belief that a certain sort of buying and selling benefits all those involved economically, politically, socially and even morally. And that that is the sort of buying and selling associated with the Free Market The idea of the Market has many roots, butits most important historical ones are lodged in British soil, in the writings of political economists However, in popular consciousness the idea flourishes best in the United States, with its long traditions of that secular, acquisitive individualism and concern with equality of process rather than of outcome that form part of the Market.

I have consulted various authors and derived much from their thinking and thoughts. I am grateful to them and record my thanks. Also, I ~thank my family for extending wholehearted support during the compilation of this book. And finally, my thanks are due to Aavishkar Publishers, Distributors for bringing out this book in a pleasing and attractive manner.

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