Globalization: Promoting Stability and Prosperity

2662 Words6 Pages
bulb-icon

Recommended: What benefits has globalization had on developing countries

"Together we can help transform the global economy into a global community."

-- Robert Alan Silverstein

“We must ensure that the global market is embedded in broadly shared values and practices that reflect global social needs, and that all the world's people share the benefits of globalization.”

-- Kofi Annan

The term "globalization" has acquired considerable emotive force. Some view it as a process that is beneficial, a key to future world economic development and also inevitable and irreversible. Others regard it with hostility, even fear, believing that it increases inequality within and between nations, threatens employment and living standards and prevents social progress.

This paper offers insight into some aspects of globalization and aims to identify ways in which countries can reap the benefits of this process, while remaining realistic about its potential and its risks.

Globalization offers extensive opportunities for worldwide development but it is not progressing evenly. Some countries are becoming integrated into the global economy more quickly than others. Countries that have been able to integrate are seeing faster growth and reduced poverty.

Globalization is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through trade and financial flows. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. The definition reflects technological advances that have made it easier and quicker to complete international transaction through trade and financial flows. It refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity from the smallest village markets, urban industries, or to the largest financial centers.

Markets promote efficiency through competition and the division of labor which refers to the specialization that allows people and economies to focus on what they do best. Global markets offer greater opportunity for people to tap into more and larger markets around the world. It means that they can have access to more capital flows, technology, cheaper imports, and larger export markets. But markets do not necessarily ensure that the benefits of increased...

... middle of paper ...

...rowth-poverty-building-inclusive-world-economy

Internet Sources Consulted

Stewart, Vivien. "Membership." Globalization and Education. N.p., n.d. Web. 19 May 2015.

"Globalization." - National Geographic Education. N.p., n.d. Web. 20 May 2015.

"Globalization101.org | Globalization | Globalisation | What Is Globalization | Globalization Dilemmas | Globalization Debates | Pros Cons Globalization | Global Issues | International Relations | International Issues." Globalization101. N.p., n.d. Web. 20 May 2015.

"Last Week Tonight with John Oliver: Fashion (HBO)." YouTube. YouTube, n.d. Web. 20 May 2015.

"Globalization II - Good or Bad?: Crash Course World History #42." YouTube. YouTube, n.d. Web. 20 May 2015.

"Globalization I - The Upside: Crash Course World History #41." YouTube. YouTube, n.d. Web. 20 May 2015.

Axelrod, Victoria G."Sustainable Globalization." Web. 21 May 2015.

http://www.slideshare.net/vaxelrod/sustainable-globalization-presentation

Show More
Related

  • Taya Kyle's Article 'American Sniper' Widow: Gun Control Analysis

    1403 Words  | 3 Pages

    The Second Amendment of the Bill of Rights granted U.S. citizens the right to bear arms. This amendment was passed by Congress on September 25, 1789. It’s original intent was so civilians could use their household weapons for military duty or for their own defense. Much has changed since 1789. Would our founding fathers enact this amendment if citizens had the guns we have today? Would they consider such an amendment if citizens were killing each other on the street, in schools and other public places? There is strong interest on the issue of gun control. Taya Kyle states her views on the subject in her article 'American Sniper ' Widow: Gun Control Won 't Protect Us. My beliefs on the subject clash greatly with hers because I regard gun control as necessary to preserve our safety.

    Read More

  • Is Particulate Matter Associated with Cardiovascular Disease Morbidity/Mortality?

    2122 Words  | 5 Pages

    Although ambient air pollution has decreased over the past several decades due to stringent air pollution control policies, there has been little evidence directly supporting the extent these control measures have improved public health (Tonne, et al, 2010). Investigative research has observed evidence to support the association of air pollution and particulate matter with increased cardiovascular events.

    Read More

  • How Globalization Saved Peru

    1730 Words  | 4 Pages

    Globalization is a series of social, economic, technological, cultural, and political changes that promote interdependence and growth. Globalization raises the standard of living in developing countries, spreads technological knowledge, and increases political liberation. Harris 5-23. The main cause of globalization is influence from other, more developed, countries. Globalization is a historical process that results from human innovation and technological progress.

    Read More

  • Raising Minimum Wage

    700 Words  | 2 Pages

    As a high school student who has a part time job, I work hard so I’m able to afford clothes, school supplies and other necessities. With my check being around $300 every two weeks, it’s almost impossible to pay for everything I need. Having the minimum wage being set at $7.25, causes many people, including myself, to struggle financially. Majority of these families are living in poverty and need help. A teeming amount of people wants the wage to be increased, but there is an abundant amount of people who object to this idea. A minimum wage increase could be very beneficial to this country but it could destroy our economy also.

    Read More

  • The Impact of Globalization in Belgium

    1162 Words  | 3 Pages

    Globalization becomes important today because increasing in depending to the world. Globalization can be determined as increasing in trade and exchange in open economy, integrated and borderless international economy (Intriligator, 2003). Globalization is often used to refer to economic globalization. The integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. Besides that, globalization also can be defined as process of greater interdependence among countries and their citizens. It consists of increased integration of product and resource markets across nations via trade, immigration and foreign investment-that is via international flows of goods and services, of people and of investment such as equipment, factories, stocks and bonds. It also includes non-economic elements such as culture and the environment.

    Read More

  • Critical Review of Peter Dickens' Global Shift: Mapping The Changing Contours of the World Economy

    1167 Words  | 3 Pages

    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.

    Read More

  • Persuasive Essay On Digital Privacy

    1281 Words  | 3 Pages

    With text messaging, email, and social media, all of which are already fairly popular, becoming more popular by the day, digital privacy is becoming a vital issue. This is why the problem between Apple and the FBI is an important issue, and one that calls for attention. In the words of Middleton “The first thing many users do in the morning is check their BlackBerry, and the device remains with them throughout the day, until they go to bed.” The thing is, this is not a behavior limited to BlackBerry users. Many people who have cellphones, smartphones in particular, are practically attached to them at the hip. As a result of this level of dependence, many people have a veritable boatload of information on their cellphones. Credit card numbers, important emails, all of their contacts, to name but a few. Some people have their entire lives stored on their phones. If it is a phone used regularly for business, it may have most to all of the business’ pertinent information stored on one device. This is why cell phone security, and being able to trust that the information on your phone is being kept safe, is so important

    Read More

  • The Pros and Cons of Globalization

    2091 Words  | 5 Pages

    (Bilton et al 1996:5) The process of globalization has certainly had many changing effects to the world we live in; it has also changed the way many factors operate. Globalization is said "to have transformed the structure and scale of human relationships that social, cultural, political, and economic processes now operate at a global scale with a consequent reduction in the significance of other geographical scales. "(The Dictionary of human geography 2004:315) Globalization has had both positive and negative effects on a local, national, international and global level. Globalization often brings benefits at one level which cause negative effects at another, these results and the scale at which they manifest are often uncertain and unpredictable.

    Read More

  • Impact of Globalization on Indian Economy

    1556 Words  | 4 Pages

    Globalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard.

    Read More

  • The Benefits Of Raising The Minimum Wage

    916 Words  | 2 Pages

    A good aspect about raising the minimum wage would be that it will maybe get the economy back on track This means that people will have more money and they will be able to buy more things and it will help the economy grow. “To get the economy back on track, spending power has to be in the hands of those who actually spend in the real economy” (Averback). The money that people are spending will actually help the economy,because now they will be able to buy expensive and in...

    Read More

  • Globalization Essay

    941 Words  | 2 Pages

    Over the last couple of years, the world has become increasingly globalized. After the cold war, all parts of the world were attracted to the process of globalization. The effect of globalization is uneven in different parts of the world and globalization suggests a world full of persistent cultural interaction and exchange, contacts and connection, mixture and movement. Different people view globalization in different ways. Some people feel it has done more good than harm, while others believe it has done more harm than good. This essay will give a deep intuitive understanding of globalization, world systems, and how globalization has affected society, culture, economics, and politics.

    Read More

  • The Disadvantages of Globalization

    1583 Words  | 4 Pages

    Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and governments of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participation in a global community. Conversely, the negative aspects rarely receive the same level of attention. Globalization appears to be advantageous for the privileged few, but the benefits are unevenly distributed. For example, the three richest people in the world possess assets that exceed the Gross National Product of all of the least developed countries and their 600 million citizens combined (Shawki and D’Amato 2000). Although globalization can provide positive results to some, it can also be a high price to pay for others. Furthermore, for all of those who profit or advance from the actions related to globalization, there are countless others who endure severe adverse effects.

    Read More

  • The Consequences of Air Pollution

    1055 Words  | 3 Pages

    What do you think is the world’s largest cause of preventable deaths? Smoking? Poor diet? Blood pressure? It’s air pollution. (The Independent Co. 2014) Air pollution is such a huge environmental issue that kills many people and it’s often not even noticed. People can be effected by air pollution and not even be aware of it. Air Pollution is caused by biological materials, chemicals, particulates, or other harmful materials going into the earth’s atmosphere.

    Read More

  • Economic Globalization

    952 Words  | 2 Pages

    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.

    Read More

  • Impact of Globalization on People

    1497 Words  | 3 Pages

    Larsson, Thomas. The Race to the Top: The Real Story of Globalization. Cato Institute, 2001.

    Read More

More about Globalization: Promoting Stability and Prosperity

Open Document