PFM Articles 
Globalization, Privatization And The Future Of Modern Governance: A Critical Assessment
ALI FARAZMAND
PFM, Vol. 2 No. 1,
(2002)
There is a close but hitherto little-studied relationship between
globalization and privatization. This article explores the connection
between them from a political economy viewpoint. On globalization, it
identifies several theoretical approaches to understanding the
phenomenon, notes the various ways in which the word is used, and
considers causes and consequences. In exploring the connection with
privatization, it is essentially concerned to view the privatizations of
the later 20th century as a strategic instrument of the globalization of
capital, and a number of reasons are advanced to support this view.
The article then looks at the implications of what has gone before for
the education of public managers, which has also reflected these late
20th century tendencies. It seeks a reorientation of such education, as
we move into a new century, to restore the spirit of public
administration as an agent of “public trust”.
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