http://www.commondreams.org/headlines04/0120-05.htmMUMBAI, India - The path of economic globalization must be changed in order to avoid
undermining social security. Otherwise it will continue to exacerbate poverty, and
therefore violence, warned World Social Forum panelists here Monday, including
Joseph Stiglitz, Nobel laureate in economics.
"The essence of economic globalization is that it should bring job security. If there
were such a commitment, developing countries could have opened markets by
explicitly tying market access to job opportunities," said the U.S. expert who served as
the World Bank's chief economist from 1997 to 2000.
Economic instability and social insecurity
will lead to a rise in violence in the world
because it is impossible to separate
economic issues from social and political
issues, he said.
The loudest applause went to Stiglitz at
Monday's conference, "Globalization,
economic and social security", which
drew more than 1,000 of the reportedly
more than 150,000 people participating in
the Mumbai WSF.