Business Quote by Arancha Gonzalez
“The fact is that during the post-1989 heyday of globalization optimism, political and business elites did not think enough about the prospect - plainly predicted in economic theory - that trade would harm some people even while leaving society as a whole better off. The result was overpromised benefits and inadequate adjustment plans.”
About This Quote
Source Report: World Economic Forum Globalization Review, 2020
Highlights that globalization benefits are uneven, causing harm to some despite overall gains
In simple terms: Globalization creates winners and losers
Key Takeaway
Address adjustment for affected groups
Themes
economics
globalization
inequality
Mood
analytical
concerned
Type
economic
policy
When to use this quote
- Policy design
- economic forecasting
- community support programs
Key Concepts
Trade theory
social safety nets
Questions to Reflect On
- What policies can mitigate adverse effects of trade?
- How can societies balance overall growth with individual welfare?
A Different Perspective
Complex to predict who will be harmed
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![“If the State does not acquire supremacy over [vast private] enterprises, it becomes their puppet, and they become the real State.” quote by Bertrand Russell](https://sms4smile.com/quotes/img-quotes/bad/bertrand-russell-69_acquire_if-the-state-does-not-acquire-supremacy_1379.jpg)