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Globalization and Free Market Conditions

Write an open letter to persuade the international community of the need for greater liberalization or for greater regulation of market forces.


Outcomes References Related Resources

Suggested Activities

Students explore the economic foundations of globalization by writing an open letter to the international community to persuade international bodies of the need for greater liberalization or for greater regulation of market forces.

Summarize newspaper articles on international economic events
In preparation for this challenge, assemble approximately 8 to 10 newspaper articles dealing with various international events that have economic implications for Alberta; e.g., NAFTA, Kyoto Accord, jobs moving to Asia, Asian interest in Alberta's oil sands. Use examples from responses to economic globalization, such as the following:

  • trade liberalization
  • foreign investment
  • privatization
  • outsourcing
  • resource development agreements
  • environmental legislation
  • land and resource use projects
  • conversion to knowledge economy.

Distribute copies of different articles to each group of students and invite them to summarize key information about their assigned event.

You might want to use the charts and strategies in Reporter's Log (Support Material) to organize student research around the 5W questions.

Research international events
Provide students with additional background sheets in point form or arrange for students to conduct print and online research on each event. Encourage students to consult additional resources, e.g., DVDs, videos, to add to their background knowledge and develop a context. You may want to invite guest speakers representing a range of perspectives (including Aboriginal voices) to provide students with valuable information and alternative views.

Consider using a cooperative learning strategy for research, such as a jigsaw. To use the jigsaw strategy, assign students to home groups. Within home groups, students research the events. Students from each home group who have been assigned common topics work collaboratively to locate, record and process the information. After students have completed the research on their common topics, they share their fact sheets with the other members of their home group.

Share and display research findings
After each presentation, invite the rest of the class to consider the economic and environmental impacts of each event for Alberta/Canada and for other areas in the world. You may want to record these ideas on the board on a chart similar to the one below.

 

Economic implications for Alberta

Environmental implications for Alberta

Economic implications for other areas

Environmental implications for other areas

Oil sands investment

 

 

 

 

High-tech jobs move offshore

 

 

 

 


Identify economic patterns in the events
Draw students' attention to any patterns in the implications of these events, notably the following:

  • whether economic gains are typically associated with negative environmental consequences
  • whether positive environmental effects are typically associated with negative economic consequences
  • whether economic gains or losses are typically distributed fairly between Alberta and elsewhere
  • whether environmental gains or losses are typically distributed fairly between Alberta and elsewhere.

Introduction to concepts: Free market and laissez faire economics
Explain that a free market philosophy has been a major impetus for post-Second World War globalization. This view suggests that maximal prosperity and freedom will be achieved if economic forces, e.g., trade, investment, people and technology, are allowed to flow freely without interference from government.

The World Bank, for example, defines globalization as the "freedom and ability of individuals and firms to initiate voluntary economic transactions with residents of other counties." On the other hand, concerns about national interests, the environment, and unequal distribution of the benefits and costs of globalization motivated others to call upon governments to control market forces in various ways; e.g., regulate foreign investment, limit free trade, establish minimum wages and environmental safeguards. See Recognizing Globalization (Critical Challenge) for more understandings of globalization. Explain that over the past 50 years, economic globalization has evolved within the context of a competition between calls for free or regulated market conditions.

Provide students with summaries of the key tenets, assumptions and critiques of free market and laissez-faire economics (see References). To meet diverse learning needs, you may want students to look at the theories of F. A. Hayek and Milton Friedman.

Research major landmarks in economic globalization
After students have an understanding of free market economics, invite them to examine major landmarks in economic globalization since World War II for their impact of market forces. You may want to select from the list in Post-1945 Events in Globalization (Background Information).

Arrange for students to work in groups to research one of these events. Focus students' attention on four questions:

What was the nature and immediate outcome of the event?
In what ways did it attempt to stimulate/regulate free market conditions?
What were the main points of disagreement?
What were the actual affects on the course of globalization, as seen from perspectives within Canada and outside of Canada?

You may want to adapt the charts and strategies in Collecting Information (Support Material) to structure and assess this activity.

Share and display research findings
After each group presentation, ask students to consider the economic and environmental impacts of each event for Alberta/Canada and for other areas in the world. Ask students to record their ideas on a chart similar to the one above.

Choose and defend greater liberalization or regulation
After students have discussed the nature and implications of these landmark events, invite them to decide whether, and in what ways, greater liberalization or regulation of globalizing forces, e.g., trade, people, investment and technology, should be adopted. Encourage students to consider social, economic and environmental implications.

Write an open letter defending greater liberalization or regulation
Suggest that students write an open letter to the international community to persuade international bodies to accept the student's recommended course of action.

Last updated: May 30, 2008 | (Revision History)
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