Governing globalization and justice

Abstract

This article explicates how 21st Century changes in the form of globalization are of historical scale, how they play out in terms of risks and inequalities shaping human experience, and how they have changed social welfare and public policy making worldwide. After presenting facts of inequality and such consequences as planetary poverty and gender stratification, it highlights the reformulation of economic power associated with burgeoning free-market economies and accompanying diffusion of instrumental rationality, standardization and commodification. In contrast with the recent US economic downturn and global softening of labor markets which cry for greater social protection, the welfare state of the last century has been replaced by a competitive state of the 21st century, as a "non-sovereign power" mindful of its global positioning but less powerful in shaping daily life among social forces including the role of NGOs. Indicating a lag between transnational developments and the way analysts think of social policies, the paper asserts that nation-states nonetheless serve important administrative functions in a world dominated by transnational corporate interests. In considering all the challenges to justice and governance, the authors argue that social welfare needs to be redefined and extended while market economy must be guided by moral principles that embody fundamental human values.