Panel confronts globalization issues

The IU Mortar Board National Senior Honor Society held a forum Tuesday night to discuss globalization, including topics concerning free trade and worldwide poverty. A three-member faculty panel was comprised of professors with expertise in the fields of economics, business and culture, and was moderated by Mortar Board Society member Raj Rangwani at the Whittenberger Auditorium in the Indiana Memorial Union.\nIn their discussion of the global movement toward the reduction in barriers to trade and the transfer of ideas, the panelists touched upon a number of complex issues related to globalization, ranging from the extinction of endangered foreign languages to the persistence of poverty around the world. Frequently the panelists disagreed with one another over terminology and concepts, but the atmosphere remained congenial and constructive.\nAndreas Hauskrecht, assistant professor of business economics and public policy, said the term globalization is often misconstrued and portrayed in an unfairly negative manner. \n"Globalization is misunderstood by many and therefore loses context," Hauskrecht said. \nStill, despite this misunderstanding, globalization remains an internationally important topic. \n"There are very dynamic forces going on worldwide that will affect all of us, and it will have distributional effects and winners and losers," Hauskrecht said.\nAssociate Professor of Communication and Culture Carolyn Calloway-Thomas said despite the beneficial aspects of globalization, attention needs to be paid to the phenomenon's social and cultural ramifications both domestically and abroad. \n"The forces of globalization are very powerful, complex and varied," Calloway-Thomas said. "What I hope students carry from the event is the world is a very fragile place and it requires connectivity among all people."\nForum moderator Rangwani estimated that there were 81 attendees at the forum, which included a question and answer session between the audience and panel. Questions were raised by audience members on the economic benefit of microcredit programs to development in Third World Countries, as well as the considerable influence of the United States government over the World Trade Organization, International Monetary Fund and World Bank.\n"International matters are interesting, and IU is a great place with professors with expertise in economics, international business and culture," Rangwani said. "The topic is of relevance to students in terms of jobs, politics and equality, and on so many levels."\nFormer International Monetary Fund Division Chief and Professor of Economics George Von Furstenberg spoke about the need to differentiate between absolute moralist initiatives, which base policy on good intentions but often have counter-productive economic and social consequences, and consequentialism, more result-driven initiatives.\n"That is consequential, when you say, 'I want to do good,' rather than, 'I want to feel good,'" he said. \n-- Contact Staff Writer Rami Chami at rchami@indiana.edu.