They might only be more efficient when externalities are not considered, but in the real world of globalization externalities are important. Understanding what to do about these problems and how to take advantage of the opportunities presented by globalization requires a strong understanding of what globalization is, and even that remains a point of some contention.
Works Cited:
Higgott, R. & Reich, S. (1998) Globalisation and sites of conflict: Towards definition and taxonomy. CSGR Working Paper No. 01/98. Retrieved May 21, 2012 from http://dspace.cigilibrary.org/jspui/bitstream/123456789/9004/1/Globalisation%20and%20Sites%20of%20Conflict%20Towards%20Definition%20and%20Taxonomy.pdf?1
Rifkin, J. (2002). The age of access: The new politics of culture vs. commerce. Retrieved...
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