James Harold views the current global economic crisis from a historical perspective in his book, The Creation and Destruction of Value: The Globalization Cycle. Harold goes through in detail comparing the Great Depression with the current situation and what chain of events led to everything that has happened. The points that he lays out suggest that globalization and values go in a continuous cycle in which they are built up and then broken down in a repetitive sequence. Harold does a good job establishing his own credibility and clearly portray his points. By taking the historical approach versus a purely economic point of view, Harold reaches more readers and puts forth a better, well-rounded argument.
Throughout the book, there are various arguments presented to help the reader understand all the different sides of the current global economic crisis. The first portion of the book gives an in depth review of what happened during the Great Depression. By showing what happened during this time, Harold links it to points in globalization. The world had become increasingly globalized with more international trade than what existed before the Great Depression. Through a series of unexplainable events, the values of this increased globalization along with individual businesses that collapsed have sent the whole world into a whirlwind. One of the most important distinctions that Harold stressed was the difference between the collapse in 1929 and 1931. The 1929 collapse was solely based inside the United States. The fall of the stock market on successive days and the ensuing volatility of the market brought down the US economy in an instant. However, at this time the rest of the world economy did not suffer as dramatic a...
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...me time to rebuild the trust and values that drive globalization but there is definitely a chance that it will return and be more efficient than it previously was.
The Creation and Destruction of Value: The Globalization Cycle by Harold James takes a different approach than other books currently out there that analyze the present economic crisis. James establishes credibility and historical facts to help the reader get a good base of information before jumping into the current situation. The reader is given a great overview of all aspects of the crisis and what some possible solutions are. James does a great job delivering his argument and informing the reader of all the necessary details that lead to his conclusions. Following reading Harold James’ book, any reader will have a greater amount of knowledge about the current global economy and economic crisis.
As Americans we have to start to comprehend that the world around us is changing technologically, politically, and economically. In “The Last Superpower” an excerpt from the book The Post American World by Fareed Zakaria published in 2008. Zakaria emphasizes on these changes. Thomas Friedman the author of “The World is Flat” a piece from the book The World is Flat: A brief history of the twenty-first century published in 2005 also emphasizes on the same changes currently happening in the world. Zakaria and Friedman define these changes as globalization. The obvious common ground shared by both authors is their representation of globalization and the effects that it has and will continue to have on modern life. In contrast to sharing the same main topic both authors take a drastically different approach on how the relay their information to the audience. The differences displayed are mainly due to their personal and educational backgrounds, definitions of globalization as well as the individual writing styles of each author.
The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come together and expand through the combination of different forces. This paper will explore the effects of globalization on US companies, US society and economy, and the implications for other countries in the post-industrial world.
Veseth, Michael. "Chapter 9. The Future Of Globalization." Globaloney 2.0: The Crash Of 2008 And The Future Of Globalization. 2010. 183. Print.
Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses will go wherever it’s cheaper and more cost effective to do business, but without sacrificing the quality of the product, service, or experience. It follows that developed nations would stand at a considerable disadvantage against developing nations because most business, in terms of the cost of labor, is too expensive to conduct in developed nations as opposed to developing ones. However, Dani Rodrick, a specialist in international political economy, contradictorily asserts that globalization has brought little but good news to those with the products, skills, and resources in developing nations to market worldwide. He points out that for most of the world's developing countries, “the 1990s were a decade of frustration and disappointment. … Most of the former socialist economies ended the decade at lower levels of per-capita income than they started it—and even in the rare successes, such as Poland, poverty rates remained higher than under communism. East Asian economies such as South Korea, Thail...
The world is not a large and strange place anymore. The world is a place that is interconnected and intertwined. The world has become from a place that each country and their peoples are separate and isolated to a place that each country and their peoples are part of a global network. Thanks to globalization this is occurring. Globalization is the ‘international integration” or ‘de-bordering’ – “a number of highly disparate observations whose regular common denominator is the determination of a profound transformation of the traditional nation-state” (Von Bogdandy 2). Globalization is connecting different people from different cultures and backgrounds together. More and more corporations are entering new foreign markets to sell their products to the native populations. But at the same time globalization is negatively hurting people and countries. Globalization is hurting workers and small countries. Workers are forced to work for low wages and small countries are being manipulated by large countries. Globalization is having a negative impact on this world and it outweighs any positive it produces.
When the term “Globalization” is discussed, most academics, scholars, professionals and intellectuals attempt to define and interpret it in a summarized fashion. My main concern with this approach is that one cannot and should not define a process that altered decades of history and continues to, in less than 30 words. Global Shift is a book with remarkable insight. Peter Dicken rather than attempting to define the commonly misused word, explains Globalization in a clear and logical fashion, which interconnects numerous views. Dicken takes full advantage of his position to write and identify the imperative changes of political, economic, social, and technological dimensions of globalization.
Kofi Annan, a UN diplomat, once said,“...that arguing against globalization is like arguing against the laws of gravity.” He is undoubtedly correct in this assessment. Indeed, globalization is no longer something to be skeptical of, it is very real and is changing our world exponentially. The affects of globalization, however, continue to be a heated topic for debate. Proponents praise the overall economic lift provided by free trade, the diffusion of cultures, and the spread of democracy and capitalism. Critics cry foul at the loss of national identity, the accelerated and uncontrolled use of natural resources, and the redistribution of wealth into the hands of a few very powerful people and corporations. Globalization is a polarizing topic and it has affected people in different and varying ways. I looked back over my life, looking for personal experiences that represent the affect of globalization upon my life. It is difficult to pinpoint exact experiences, but it is clear the broader affects globalization has had on my life such as in the spread of cultural practices such as yoga or foreign entertainment, or the rapid demise of the Midwestern manufacturing industry.
Stiglitz, Joseph E. Making Globalization Work. New York: Norton & Company, Inc., 2007. Kindle ebook file.
This book review is divided into four parts, which are (i) Introduction, (ii) Chapter Summary, (iii) Review proper, and (iv) Concluding words. In the chapter summary, I just explained simply the gist of the chapters in 4 - 5 sentences. While in review proper, I quoted from the book the sentence / paragraph that I agreed in. lastly, you will see the things that I have agreed in to. Lastly, in the concluding part, I just recommended the book to the people who are in globalization and economic development.
...o we can achieve our dreams in life: “we are now living in a world where time and space don’t matter anymore” just like J.Mittleman said. Globalization as we just learned is relative, whether it’s an opportunity or an exploitation depends on where you sit and how you look at the world. Kent, J., Kinetz, E. & Whehrfritz, G. Newsweek. Bottom of the barrel. - The dark side of globalization (2008/March24). David, P. Falling of The Edge, Travels through the Dark Heart of Globalization..Nov 2008. (p62)
Just imagine waking up in squalor, a once prominent society, now a desolate wasteland. All because foreign interest has raped your land of its natural resources and you seen not a cent in profit. Although, globalization is unifying the worlds developed nations and is bringing commerce to nations that have struggle in past years. True, globalization has many positive effects but do the pros outweigh the cons. In this essay I will discuss Globalization ruining the integrity of many countries and also is forcing many undeveloped nations into a bind, and is causing economic distress on some developed nations. Also, due to economic globalization the nations of the world are diluting their culture, sovereignty, natural resources, safety and political system. My goal is not to change your way of thought, but only to enlighten you of the negatives of global economic expansion.
Globalization, a great number of people regard it as a chiefly economic phenomenon, necessitating the additional integration, or interaction, of nationally based economic entities through the development of international trade, investment and monetary flows. Also included in this view is the rapid advances in sharing social and cultural values as well as new technologies as the world grows together. Globalization can be defined as a procedure in which geographic distance is a diminishing factor in the formation and sustentation of international economic, political and cultural relations. Proponents of this process believe that free trade and integration of world markets will facilitate growth in economies both old and new. Proponents also believe that globalization will stimulate the spread of democracy and in turn improve the condition of human rights so intrinsic to the values of democracy. Critics of globalization see globalization quite differently, portraying it as worldwide push toward a globalized economic system under the control of global corporate trade and banking institutions that are not responsible to the democratic system or governments. Many questions surround globalization. What are the costs and benefits of free trade? Does globalization exacerbate global inequality? What impact does globalization have on the environment? Are industries in developed nations being weakened by industries in developing or third world countries that have a lower standard and therefore cost of labor?
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
Globalization, the acceleration and strengthening of worldwide interactions among people, companies and governments, has taken a huge toll on the world, both culturally and economically. It’s generating a fast-paced, increasingly tied world and also praising individualism. It has been a massive subject of matter amongst scientists, politicians, government bureaucrats and the normal, average human population. Globalization promoted the independence of nations and people, relying on organizations such as the World Bank and also regional organizations such as the BRICs that encourage “a world free of poverty” (World Bank). Despite the fact that critics can argue that globalization is an overall positive trend, globalization has had a rather negative cultural and economic effect such as the gigantic wealth gaps and the widespread of American culture, “Americanization”; globalization had good intentions but bad results.
Globalization has been a start of a new modernized era in history. The source states that as an individual you are given prosperity, stability, and also predictability, and also points out that it helps developing countries modernize and catch up with developed countries, and also reduce poverty since new businesses are formed allowing more employment in the country due to the subsidies that wealthier countries give to them. The person who wrote this source is a pro globalist, and has probably experienced the prosperity that was given to them because of the global trading system. His perspective on globalization suggests that globalization is the key to advancing technology, good relations between countries, and is beneficial event in history. One should embrace the global economy as it creates many roads to achieve your goals in your life, and also for the weaker countries that needs support, but to a degree that the government can intervene with the market.