LONDON -- When people hear the word "globalization" they differ in how they react. Some think about how globalization has spread around the world raising incomes and the quality of life wherever it goes. Others think about how the capitalist forces of the West extend their exploitative tentacles to grab wealth and resources from poor defenseless peoples.
The truth of course lies somewhere in between. I fall into the first group, those who think that on balance globalization is a force for good. Sometimes it is all gain, as when a multinational corporation takes its capital and knowledge into a remote area to exploit resources that would otherwise remain unused and distributes the gains equitably with the local population.
This is not to say that I deny that there are ever negative aspects of globalization. Most multinational corporations' investments, while being a positive sum game, do involve both gainers and losers. On balance the gains outweigh the losses. This does not leave the losers happy of course, unless they are adequately compensated. Multinational corporations facilitate a process of transition in which resources move to their most productive locations.