Do the Liberal Capitalism and Globalization Enable the Implementation of Sustainable Development Strategy?

One of paradigms of sustainable development is intra-generational justice, which requires the active role of the state to balance the power of international corporations with the interests of paid workers. The changes initiated by Ronald Reagan and Margaret Thatcher, which led to the weakening of trade unions and the controlling role of the state, resulted in an escalation of inequality. Globalisation is applied to this, in an age where the influences of large multinational corporations, geared primarily for profit, do not have a strong partner who could effectively control them. Consequently, in spite of an increase in worker productivity, regions of poverty on a global scale do not diminish. Instead, vast concentrations of capital accrue in the hands of narrow groups of people. In particular, the liberalisation of the financial markets should be regarded as dangerous which, as a result of speculations, appropriate vast resources without contributing to the creation of added value. It is necessary to return to the concept of the welfare state to significantly improve the quality of life for most citizens. Nowadays, liberal capitalism represents a considerable threat to the realisation of the sustainable development idea.