First Pillar of Globalization: The Institutional, Legal, and Political Reforms

admin    3/15/2020    Globalization , Institutional , Political Reforms    Comment   

The first pillar of Globalization is the institutional, legal, and political reforms based on less public sector participation into the market. The institutional focus is supported by the idea to reduce the government participation into the market under the argument of unnecessary bureaucracy barriers. The elimination of unnecessary bureaucracy barriers uses the mechanism of privatization (free market) based on the sale of assets from the government (production plants and public services) to the private sector. The sale of government assets to the private sector assumes a better performance of public goods and services under the statement of high productivity and better public services and products. The mission of privatization is to look for an efficient allocation of resources into the market of any country under the private sector full control.

The new institutional approach and deep legal framework and political reforms that constitute the first pillar of Globalization is based on less government participation in the market. The idea behind the reduced the government size is that exists an unnecessary bureaucracy can create the non-efficient allocation of the production factors. The elimination of the unnecessary bureaucracy is implemented through the mechanism of privatization, where public goods and services are sold to the private sector. The sale of government assets to the private sector is assumed to give rise to higher productivity and better products to the consumers. This is in line with the mission of privatization, that is, to achieve efficient allocation of resources in any economy. However, this new political and institutional framework is supported by the strong promotion of democracy (more participation of the civil society to selects its leaders and authorities in a fixed period of time) and human rights respectively.

In counterpart, we can see that the intervention of government plays a crucial role in any massive contagious epidemic diseases crisis such as Wuhan-COVID-19. The private sector cannot handle so heavy social resposability and allocation of human and material resources to implement a large quarantine under strong sanitary measures, public hospitals, medical and nursing staff, medical equipment, rescue groups, and security in case of a massive contagious epidemic diseases such as Wuhan-COVID-19 according to recently events. In fact, Globalization needs to integrate a new politica, legal, and institutional framework reform that can help to find new mechanisms and schemes in integrating the public sector and private sector together in cases of any massive contagious epidemic diseases. This new scheme can be called “Post-Integral-Globalization”. This new scheme permit the fast implementation of mechanism and policies (Ruiz Estrada, 2011 and Ruiz Estrada & Park, 2018) to prevent and control possible eventual massive contagious epidemic diseases anywhere and anytime. The Post-Integral-Globalization includes the possible joint of research and development for medications and medical treatments, controls and monitoring systems of epidemics, private-public parthnerships scheme, and different mechanisms of cooperation domestically and institutionally.