Can We Still Defend Globalisation after the Current Crisis?

Abstract

It is now generally agreed that globalisation along the dimensions of trade and equity inflows creates prosperity and, in turn, helps rather than hinders the achievement of ‘social’ agendas such as reduced child labor, reduction of poverty and greater pay equity for women. But the financial sector, and its cross‐border globalisation, represents the soft underbelly of globalisation. This has been underlined dramatically by the current crisis since 2008. However, the common critique that the financial sector corrupts moral value is not compelling.