Has the Free Enterprise Worked for Globalization?
The recent global recession and economic crisis affected numbers of people worldwide. As a result of the fear of continued shocks, several critics are pointing to the effects of globalization and private enterprises as the cause of these problems. Globalization has often meant or been linked to the free market system, and therefore increased de-regulation measures.
The recent global financial crisis, however, has influenced the curtailing of deregulation and globalization in a number of economies. For example in the United States, President Obama signed into law a Bill for several regulations to reform the financial markets. This comes as the United States faces unemployment of about 9.7 percent, Spain at a rate of 19.7 percent and the United Kingdom at 7.9 percent.