Do Consumers in Developing Countries Gain or Lose from Globalization?
” Journal of Economic Issues 34, no. 3 (September, 2000): 537-551. The author presents a study on the effects of globalization to developing and underdeveloped countries. He argues that the traditional neoclassical consumption theory is inadequate as a means of assessing the welfare effects of globalization on consumers in developing countries. Following a systematic critique, the author concludes that there are a variety of mechanisms through which some consumers in developing countries will tend to gain from globalization, while others will suffer instead from disappointment and frustration. These various mechanisms, and the way in which they relate to the assumptions of traditional consumption theory, are examined. Diplomacy. • Lancaster, Carol. “Redesigning Foreign Aid.” Foreign Affairs 79, no. 5 (September/October 2000): 74-88. The traditional goals of US foreign aid – promoting US security and fostering development in poor countries – are no longer relevant issues after the Cold
