Practicing Success

Target Exam

CUET

Subject

Political Science

Chapter

Contemporary World Politics: Globalisation

Question:

The term 'social safety nets' is related to which aspect of economic globalisation?

Options:

It is about introducing technological advancement in the economy.

It relates to minimizing the negative effects of globalisation on those who are economically weak.

It is about going back to the idea of 'welfare state'

It is about regulating the trade among different countries

Correct Answer:

It relates to minimizing the negative effects of globalisation on those who are economically weak.

Explanation:

The social safety Net relates to minimizing the negative effects of globalisation on those who are economically weak.

Economic globalisation has created an intense division of opinion all over the world. Those who are concerned about social justice are worried about the extent of state withdrawal caused by processes of economic globalisation. They point out that it is likely to benefit only a small section of the population while impoverishing those who were dependent on the government for jobs and welfare (education, health, sanitation, etc.). They have emphasised the need to ensure institutional safeguards or creating ‘social safety nets’ to minimise the negative effects of globalisation on those who are economically weak. Many movements all over the world feel that safety nets are insufficient or unworkable. They have called for a halt to forced economic globalisation, for its results would lead to economic ruin for the weaker countries, especially for the poor within these countries. Some economists have described economic globalisation as re- colonisation of the world.