Question

PROPERLY REFERENCED USING APA CITATION FORMAT. This requires BOTH IN-TEXT CITATIONS and a properly formatted, complete BIBILIOGRAPHY.

According to Steger, “three institutions enjoy the privileged position of making and enforcing the rules of a global economy that is sustained by significant power differentials between the global North and South.” (Steger, 2017, p. 56) What three institutions is Steger referring to and what is the argument he is making about the relationship between neoliberal economic globalization, as directed by these institutions, and global inequality? Do you agree with his argument? Be sure to precisely define key terms such as neoliberalism, and economic globalization, using specific details and evidence drawn.

Answer 1

Answer-

Yes, I agree with this argument that According to steger,"three institutions enjoy the privileged position of making and enforcing the rules of a global economy that is sustained by significant power differentials between the global North and South''.The three institution is Steger refers to is the role of IMF,the World Bank,and the WTO and Steger also examines the history and role of the IMF, the World Bank, and the WTO. He points out that these three institutions enjoy the privileged position of making and enforcing the rules of a global economy that is sustained by significant power differentials between the global North and South.

Neoliberalism-

"Neo" means we are talking about a new kind of liberalism and "Liberalism" can refer to political, economic, or even religious ideas.Neoliberalism is a set of economic policies which is used to some specific work wit due to in time.Neoliberal policies aim at creating a framework for the economy that makes it possible to raise profits by minimizing the costs of investment, reducing social security, and preaching individualism.It is used for  reforms lead to deep changes in healthcare systems around the world, on account of their emphasis on free market rather than the right to health. People with disabilities can be particularly disadvantaged by such reforms, due to their increased healthcare needs and lower socioeconomic status.

Economic Globalization-

Economic globalization is a process of economic and trade activities, with countries around the world into an increasingly integrated market forces without any resistance by the territorial limits of the country. Economic globalization requires the removal of all restrictions and impediments to the flow of capital, goods and services. As economic globalization occurs, the boundaries of a country will become blurred and the linkages between national economies and the international economy.The growth in cross-border economic activities takes five principal forms: (1) international trade; (2) foreign direct investment; (3) capital market flows; (4) migration (movement of labor); and (5) diffusion of technology .