The Implications of Globalisation for Human Security

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The Implications of Globalisation for Human Security

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The first component of human security is economic security – “an assured basic income – usually from productive or remunerative work, or in the last resort from some publicly financed safety net” (UNDP 1994:25). Globalisation can often assist in providing productive or remunerative work. Increased trade allows firms in one country to provide employment for workers in another. Further, open markets generally lower the cost of goods to consumers, increasing the real value of wages (Griswold 2000). The greatest reductions in poverty have occurred in countries that have embraced economic liberalisation. For instance, the number of Chinese living in absolute poverty – less than US$1 per day – declined by 150 million between 1990 and 1997 (Griswold 2000).

However, globalisation has also had negative impacts on economic security. In the Global North, the flood of cheaply-produced imports from low wage-level countries has reduced demand for domestic products, and depressed the wage and employment levels of low-skilled workers (Breau 2007:74). In the United States, for instance,

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