Globalization and

Human development
BABY JEAN M. MONZALES
SHERILEEN R.MONSALES
JESSA MARIE GALAN
CATHERINE MADIA
Globalization-is an extreme complex
phenomenon and is measured by its
various indicator's.To some people
globalization insinuate spread of
culture and ideas,improverish
worker's in poor countries,damaging
the environment or faster spreads of
disease.
• Globalization for some non-
economist is equivalent of the
extension of the mechanism of
capitalism at the world level.On
the other hand many economist
view globalizationas increase in
international trade of both
financial assets and good that
comes from a decrease in
transaction costs.
• Many variables included in this
index are very good proxies for
globalization.Countries with high
degree of economic freedom are
indeed pioneer of globalization.

Briefly the ten indicators of

economic freedom are:
1. Business-the ability to
create,operate and close an
enterprise quickly and easily.The
variables included in the business
indicators include:time and cost
of starting new business,and
ease of starting and closing a
business.

2.Trade-a composite measure of

the absence of tariff barriers that
and export of goods and services.

3.Fiscal-a measure of the burden of

government from the revenue
side.The variables included are
mainly individual and corporate tax
rates.

4.Government-includes all
government expenditure as a
percentage of GDP and revenues
generated by state.Owned
5.Monetary -this indicators combines
a measure of price stability with an
assessment of price control.

6.Investment-an assessment of free

flow of capital,especially foreign
capital.

7.Finacial sector - the relative

openness of each Country's banking
and financial system government
control financial sector.
8.Property rights-An assessment of
law that permit Property right.

9.Corruption- based on quantitative

data that assess the perception of
corruption in the business
environment,including level of
government legal,judicial and
administrative corruption.

10.Labor - is a composite measure of

workers and business
to interact without restriction by the
state.

Humandevelopment-is difined as the

process of enlarging people's
freedom and opportunities and
improving their well-being.Human
development is about the real
freedoom ordinary people have to
decide who to be,what to do,and
how to live.
 The human development concept was
developed by economist Mahbub Ul
Haq.At the world bank in 1970,and
later as minister of finance in his own
country Pakistan,Dr.Haq argued that
existing measures of human progress
failed to account for the true purpose
of development-to improve lives.
United Nations Development
programme
 Central of human development
approach is the concept of
capabilities.Basic capabilities valued
by virtually everyone include:
good,health,access to knowledge,and
a decent material standard of
living.Other capabilities Central to a
fullfilling life could include the ability
to participate in the decision that
affect ones life,to have control over
one's living environment,
to enjoy freedom from violence,to
have societal respectful,and to relax
and have fun.
• Impact of Globalization on Human
development

Globalization is a process of
increasing interconnectedness of
individuals,groups,companies and
countries.Its impact on trade and
human development immense.Due to
trade liberation as well as the rapid
development of technology and
especially information and
communication
technology the people of developing
country like Bangladesh are facing a
bunch of threats as well as enjoying huge
opportunities.