Response Journal Globalization

Topics: Capitalism, Communism, Free market Pages: 2 (493 words) Published: March 25, 2013
Johan Norberg’s book, In Defense of Global Capitalism, systematically rebuts the ongoing debate of anti-globalization/ anti-capitalism movement. For the past decade, especially after the worldwide financial crisis that took place several years ago, more and more people started opposing to the wide spread of global capitalism. The opponents of globalization argue that highly free trade and free market is the major cause of the downfall of the world economy. To refute this and all the other statements, Norberg used many facts and statistics to prove how those are merely assumptions.

For instance, for the argument that capitalism holds people in poverty and makes world a more unequal place because human nature is fundamentally greedy and selfish. To prove this wrong, Norberg used couple examples and number facts to demonstrate that global capitalism’s contribution to delimitate poverty is far more than simple altruistic development assistance. “In 10 years the poor countries of the world have obtained a trillion dollars in foreign direct investments- slightly more than all the development assistance they have received, worldwide, in the past 50 years.” This completely refutes the point of how global capitalism’s potentially selfish and greedy nature being detrimental for humanity and establishes the notion that free trade and free markets have positive effects on global economy and the bad part is actually government or state interference and regulations.

Even though Norberg does agree with the theory that capitalism does cause a wider rift between the rich and the poor, he argues that the gains the riches earn are not coming from the backs of the poor. He listed many statistics to make the readers believe that the life expectancy, infant mortality, world hunger, access to drinkable water and illiteracy have all been improved and risen significantly in those third world countries.

Johan Norberg believes that free trade and free market is beneficial to...
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