Globalization, National Culture and the Future of India

Dipak Basu

Chapter 13 in The Knowledge Economy in India, 2003, pp 260-277 from Palgrave Macmillan

Abstract: Abstract ‘Globalization’ stands for the ultimate rights of multinational companies to allocate resources according to their own criteria of efficiency, which may or may not correspond to the national cultures of the countries in which they are operating. The idea is that an economic system can be successful if it corresponds to the culture or the philosophy of life of the host country, otherwise it will die out sooner or later. The purpose of this chapter is to examine whether the globalization process corresponds to the basic philosophy of people’s lives. An analysis of the Indian philosophy and the universal laws of nature suggests an alternative view of the world economic system. India’s future will be determined by the interactions of the economic system and inherent characteristics of her national culture.

Keywords: Host Country; World Trade Organization; National Culture; Domestic Firm; Globalization Process (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51298-6_14

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DOI: 10.1057/9780230512986_14

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