Question

Describe the legitimacy crisis that the globalization project faces. How do you see it manifested in the US?

Answer 1

Legitimation crisis is an economic situation with a decline in administrative functions, institutiinal functions and even a lack of confidence in the leadership. It is a fear of uncertainty in connection with the future of the organisation / economy / political leadership.  

It is a willingness or belief in the exisiting system or rule without considering how it is achieved. Legitimacy can be clasiified as :

i. traditional

ii. charismatic

iii legal

It is actally based on long established customs and traditions.

The eonomic crisis happens becuase of the fact that requisite qantity of consumable values are not produced.

This shows that there is a gap created in between what the consumers wants and what the economy can supply.  

Globalization is the interaction and integration of people,companies and governments of the world.The advance of transport and commnication played a major role for the formation of globalisaton.

However globalization helped to develop more markets in United States through which American companies were able to sell their prodcts world wide. On the other hand people of America were able to purchase products at cheaper prices.  

Globalisation also helped to spread influence of America to other parts of the world. There has been a rise of multi national corporations. It made easy to make real time communications with other nations not only during the time of peace, but also during the time of conflicts.

The following are the drawbacks of globalization in America:

Many Americans have lost their jobs because foreign labourers replaced them by doing the same jobs with less amount of wages and also under worse conditions, unlike the natives of America.  

The globalization also contributed an increase in the trade deficit of United States which was already existing there earlier.  

The following are the gobal economic challenges:

Enery and environmental security

Conflict and poverty

Global imbalances and rise of new powers

Inspite of the world,s ability to battle diseases, with advanced medicines and technology , global health needs remain without any attention. The poor continue to suffer inadequate health facilities in addition to severe poverty related issues.

Addressing povery with more effective ways is what the situation demands.