Bangladesh News

Nobel laureates Prof Amartya Sen and Prof Muhammad Yunus urged world leaders yesterday to utilise the potentials of globalisation to eradicate poverty and lift countless have-nots.

Indian Nobel laureate economist Prof Sen said there is nothing to make wholesale criticism of globalisation and the critics of this phenomenon do not appreciate its opportunities.

Terming anti-globalisation a “slogan-only campaign”, Sen said, “I am anti-anti-globalisation.”

He was speaking at a dialogue styled “Towards an Inclusive Globalisation” organised by Centre for Policy Dialogue (CPD) at the Brac Centre Inn in the capital.

A galaxy of experts, civil society members, academicians and businessmen attended the dialogue conducted by CPD Chairman Prof Rehman Sobhan.

This year’s Nobel Peace Prize winner Prof Yunus and an expert on globalisation, George Soros, spoke on globalisation while Prof Sen discussed the issue at the dialogue.

Sen told reporters at the end of the programme that he is neither in favour of globalisation, nor against it. “I am in favour of weighing up the pros and cons of globalisation,” he said.

Referring to China, Sen said despite being a communist country China has accepted market economy to some extent. He said although he does not support the market economy strongly, it can be introduced depending on a country’s necessity.

He, however, strongly spoke against the market fundamentalism in India, Bangladesh and Pakistan.

George Soros, a global financier and philanthropist and founding chairman of Open Society Institute, said in his speech, “Globalisation is a market fundamentalist project” and globalisation is putting the ultimate reliance on market.

Soros said property right is creating business monopoly instead of competition.

Prof Yunus said globalisation is on the wrong direction at present, arguing that the majority people receiving the privileges of globalisation are the strongest while the poorest have no say.

Yunus said only two percent people are possessing 50 percent of the world’s total assets. He stressed the need for “free assets free for all” policy both for the strongest and the poorest.

He said globalisation is something which cannot be stopped. So, the relevant question centres on right globalisation versus wrong globalisation.

Metaphorising globalisation with a highway, Yunus said all vehicles of the big countries are plying this highway while rickshaws have no place here. He stressed the need for an authority, like the traffic police, so that all can get their chances.

Yunus pointed out that 60-70 percent of the world’s total population has no access to information technology (IT) and emphasised the need for equal access to IT for all people.

“If the IT is brought to the people at the bottom level, they will at least be able to know whether globalisation is wrong or right,” he said.

Yunus said he is trying to introduce an idea of business with businessmen setting up non-profit companies for the well-being of humanity.

Replying to the participants’ queries, Soros said the media is not playing due role in raising sufficient argument on globalisation as many media houses are owned by big companies.

Amartya Sen, however, argued that the media is doing its job properly to some extent.

He also said there is no need to form any authority or organisation to ensure proper utilisation of globalisation since there are the UN, World Bank, World Trade Organisation, and the International Monetary Fund.

Renowned economist Prof Wahiduddin Mahmud, former adviser to caretaker government CM Shafi Sami, former foreign secretary Farooq Sobhan, Bangladesh Unnayan Parisahd Chairman QK Ahmed, IUCN Country Director Dr Ainun Nishat, businessmen Sayeeful Islam and Annisul Huq attended the dialogue, among others.