The social dimension of globalization: A review of the literature

With globalization affecting so many inter-connected areas, it is difficult to grasp its full impact. This literature review of over 120 sources considers the impact of globalization on wages and taxes, poverty, inequality, insecurity, child labour, gender, and migration. Opening with some stylized facts concerning globalization in 1985-2002, the authors then highlight recent findings on these areas, reporting on controversies and on emerging consensus where it exists. There follows a review of national and international policy responses designed to make globalization more sustainable and equitable and to deliver decent jobs, security and a voice in decision-making

Economic Analysis of Knowledge: The History of Thought and the Central Themes

Following the development of knowledge economies, there has been a rapid expansion of economic analysis of knowledge, both in the context of technological knowledge in particular and the decision theory in general. This paper surveys this literature by identifying the main themes and contributions and outlines the future prospects of the discipline. The wide scope of knowledge related questions in terms of applicability and alternative approaches has led to the fragmentation of research. Nevertheless, one can identify a continuing tradition which analyses various aspects of the generation, dissemination and use of knowledge in the economy

Cross-education does not accelerate the rehabilitation of neuromuscular functions after ACL reconstruction: a randomized controlled clinical trial

Purpose: Cross-education reduces quadriceps weakness 8 weeks after anterior cruciate ligament (ACL) surgery, but the long-term effects are unknown. We investigated whether cross-education, as an adjuvant to the standard rehabilitation, would accelerate recovery of quadriceps strength and neuromuscular function up to 26 weeks post-surgery. Methods: Group allocation was randomized. The experimental (n = 22) and control (n = 21) group received standard rehabilitation. In addition, the experimental group strength trained the quadriceps of the non-injured leg in weeks 1–12 post-surgery (i.e., cross-education). Primary and secondary outcomes were measured in both legs 29 ± 23 days prior to surgery and at 5, 12, and 26 weeks post-surgery. Results: The primary outcome showed time and cross-education effects. Maximal quadriceps strength in the reconstructed leg decreased 35% and 12% at, respectively, 5 and 12 weeks post-surgery and improved 11% at 26 weeks post-surgery, where strength of the non-injured leg showed a gradual increase post-surgery up to 14% (all p ≤ 0.015). Limb symmetry deteriorated 9–10% more for the experimental than control group at 5 and 12 weeks post-surgery (both p ≤ 0.030). One of 34 secondary outcomes revealed a cross-education effect: Voluntary quadriceps activation of the reconstructed leg was 6% reduced for the experimental vs. control group at 12 weeks post-surgery (p = 0.023). Both legs improved force control (22–34%) and dynamic balance (6–7%) at 26 weeks post-surgery (all p ≤ 0.043). Knee joint proprioception and static balance remained unchanged. Conclusion: Standard rehabilitation improved maximal quadriceps strength, force control, and dynamic balance in both legs relative to pre-surgery but adding cross-education did not accelerate recovery following ACL reconstruction

Joseph Stiglitz's, Globalization and its Discontents

Joseph Stiglitz's Globalization and its Discontents has sparked a major critical response since its publication in that it appears to encapsulate widespread doubts about globalization processes and their governance. This review aims to probe further Stiglitz's general analysis and policy prescriptions. It is argued that Stiglitz's central concern is how globalization as currently practised acts to exacerbate existing market failures and produce new ones, and the appropriate response of international economic institutions to address the resulting global collective action problems and ensure that the potential gains from globalization are realized. Whilst many of his proposals remain vague, they can be seen as part of an emerging global social democratic agenda. Copyright © 2004 John Wiley & Sons, Ltd.

Balance of Payments Constrained Growth and Developing Countries: An examination of Thirlwall's hypothesis

Thirlwall's hypothesis of balance of payments constrained growth has been widely tested for developed countries, but much less for developing countries. Further, previous tests have used dated estimates derived using non-robust econometric techniques. After discussing the conditions under which Thirlwall's hypothesis would be valid and the econometric issues involved, this study reports error correction estimates of import and export demand functions for a large sample of developing countries. Deriving the long run income elasticities of demand from these functions, the study reports tests for different specifications of Thirlwall's hypothesis on this sample and finds some support for it.

Evaluating Marxian contributions to development economics

This paper evaluates the contribution of Marxian approaches to the evolution of development economics and the reasons for their current state of impasse, and suggests some areas in which this work may still be capable of providing useful contributions. Development economics was one of the few economics sub-disciplines where Marxian approaches were considered to offer a key perspective and had a wider influence on more mainstream analysis. We explore how, during the 1970s and 1980s, Marxian analysis was published alongside other perspectives in development journals, producing theoretical and empirical work analysing the conditions under which capitalism in developing economies would continue to play a developmental role. We then consider the critical engagement with dependency theory that denied the possibility of independent capitalist development, as well as with more orthodox perspectives. The conclusion of leading proponents of Marxian development by the mid-1980s, that such work had reached an impasse with no clear evidence of either theoretical or empirical progress, is then assessed. JEL Classifications: B51, O10, P10Marxism, development economics, heterodox economics, modes of production,

What does tacit knowledge actually explain?

The concept of tacit knowledge has come a long way from its origins in Michael Polanyi's work and its championing by Hayek and other Austrian economists. It is now widely, even routinely, cited not only in Austrian economics, but also in institutional economics work, industrial economics and economic geography. Further, rather than being viewed as a hypothesis requiring conceptual clarification and empirical testing, the concept of tacit knowledge is almost invariably treated as established, even incontrovertible, virtually as a fact. Conceptual disputes over tacit knowledge have instead focused on the boundaries between codifiable and tacit knowledge. Here we draw upon a critique of tacit knowledge and tacit rule following from the social philosophy literature that has not been considered in the economics literature hitherto. In brief, this critique argues that the concept of tacit knowledge is merely a term given to a phenomenon the observer does not understand; as such, it has no explanatory content. Through a philosophical examination of rule following, this critique further argues that the concept of agents tacitly following rules is highly problematic, not to say implausible.Tacit knowledge, rule-following, methodology, D83, B52, B53, B25, B41,

Labour Migration and Remittances: Some Implications of Turkish Workers in Germany

Despite only recently completing the challenging fifth enlargement process, the EU has already embarked upon negotiations about Turkey’s possible accession to the EU; indeed in December 2004 agreement was reached between Turkey and the EU for entry talks to begin in October 2005. The possibility of Turkish accession to the EU has reignited fears in the ‘old’ EU about labour migration as a result of enlargement. This paper reports an analysis of the economy wide effects of changes both in the flow of labour from Turkey to EU and the flow of labour remittances to Turkey by migrant workers. Due to the past migration patterns and volumes of Turkish Gastarbeiter, the analysis focuses on the economic implications of this process for Germany as well as Turkey. The analyses are carried out by using a 22-sector, 6-factor and 15-region global computable general equilibrium model -Globe CGE- that is implemented in GAMS (see McDonald et al, 2005. For this study a method for augmenting the GTAP database using additional IMF data on remittance flows (McDonald and Sonmez, 2004) has been implemented as an extension to a global representation of the GTAP database (McDonald and Thierfielder, 2004). Since the data on inter regional transfers are not bilateral, an additional region, called “globe”, is defined as the recipient of all remittance expenditures and the source of all remittance incomes