Over the past few decades there have been discourses both in favor and against Globalization’s capacity to guarantee a sustainable future. Authors attest societies and businesses’ inability to account for ecological and environmental limits when dealing with economic growth, examples of this are some of the traditional business metrics used by most global companies, and nations’ measure of wealth (GDP); both sides heavily resting on economic factors, fail to account for societal and environmental concerns (Byrnea & Gloverb, 2002). Other researchers point at the intensive use of resources, especially by global corporations; such as the increasing and careless consumption of fossil fuels, water, precious metals, etc. leading to a rise in GHG (Starke, 2002) (United Nations Development Program (UNDP), 2000). Most fervent opponents go as far as to call ‘sustainable development’ an oxymoron (Ayres, 1995).
On the other side, many analysts and economists suggest that Globalization has proven to improve society’s overall wealth (Bryan & Farrell, 1996) and that it will continue to do so in the future. Others also affirm that Globalization will improve people’s well being, encourage cultural exchange and promote democratization (Wildavsky, 1995) (Friedman, 2000) (Byrnea & Gloverb, 2002).
Ayres (2008) advances the concept of ‘sustainability economics’, which deals with the issue of maintaining economic growth while paying special attention to environmental concerns of energy utilization and resource exhaustion, especially carbon fuel consumption and its relation to climate change.
Because of the afore mentioned, apparent social and economic benefits of Globalization there are forces which simultaneously ask for both the protection of...
... middle of paper ...
...• Shields, M., & Young, S. (1992). Effective long-term cost reduction: a strategic perspective. Journal of Cost Management , 6 (2), 16-30.
• Starke, L. (2002). State of the world 2002: Special World Summit edition. New York: W. W. Norton.
• Toscano, J. (2003). Globalization and sustainable development. In B. H, & R. W, Achieving Sustainable Development: The Challenge of Governance Across Social Scales. Westport, Connecticut: Praeger.
• United Nations Development Program (UNDP). (2000). Human development report 2000. New York and Oxford: Oxford University Press.
• Wildavsky, A. (1995). But is it true? A citizen’s guide to environmental health and safety issues. Cambridge, MA: Harvard University Press.
• Zachariassen, F., & Arlbjørn, J. (2011). Exploring a differentiated approach to total cost of ownership. Industrial Management & Data Systems , 111 (3), 448-469.
Globalization helps many people achieve greatness. But for the majority it brings hardships and struggle. People will be plagued by the effects of globalization and will have a tough time over coming it. We are far from reaching a point where we can say we have sustainable prosperity throughout our world. But before we focus in on sustaining prosperity, we must first reach prosperity and bring it to all corners or the earth.
“Globalization contributes to sustainable prosperity for all people”. This quote contains mostly truth but there are also many arguments towards how globalization really does contribute to sustainable prosperity for people all around the world. This can be supported by three main points. How the rise of Japan’s economy effected the lives of millions of people. How shipwrecking effects the lives of both the ship companies and the workers in Bangladesh, and how economic growth contributes to the sustainable prosperity of the population in a specific nation. Sustainable prosperity can be defined differently from different individuals because of people’s personal opinions and their perspective is also effected by the people who influence their lives the most, but the main definition of prosperity is to have good fortune, or growth in an economic way. Globalization creates a gateway for sustainable prosperity to all people and gives people all around the world the opportunity to gain prosperity.
McNair, C. J. (2007). Beyond the boundaries: Future trends in cost management. Cost Management, 21(1), p.10-21.
Sustainability is concerned with the long-term and holistic survival of the planet and its populations, including humans. It means that immediate economic growth is less important than deve...
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.
Redclift, M. (2005). Sustainable Development (1987-2005): An Oxymoron Comes of Age. Sustainable Development, 13(4), 212-227.
Our current global economy would make Dracula proud. Since 1800, the global population has increased sevenfold. This mind-boggling increase has come at the cost of sucking more and more non-renewable, or fossil, resources from the earth. This exponential expansion comes from improvements on the way we drain finite resources from the earth, and is unsustainable. Due to the economic sleight of hand of externalities, the cost of using these finite, unsustainable resources is not correctly felt in market prices. Market prices don't reflect investments that need to be made into sources of renewable energy. The global economy is recklessly and heedlessly overdrawing irreplaceable resources from the environment, while subsidizing the externalities envolved to the earth's population and environment. Ignoring this irreversible draining of the planet's finite resources through externalizing cost is intergenerational betrayal at its basest.
Although capitalism has undoubtedly brought with it huge economic benefits, they have come at a price and it has become evident that the planet can not sustain the current methods of pursuing economic growth. With the onset of climate change, swelling population rates and our non-renewable resources running out the only solution is for us to look for ways to develop in a sustainable way. As we can see from this graph there is a direct correlation between economic prosperity and CO2 emissions. Seeing as the the most economically prosperous nations are the main culprits behind the destruction of the environment, it is my opinion that the onus now rests with them to lead the way toward a sustainable future.
What is sustainability? There is a Native American (n.d.) proverb which says: ‘When the last tree has been cut down, the last fish caught, the last river poisoned, only then will we realize that one cannot eat money’. Defining sustainability is a challenge itself, achieving it is even more arduous but what it is certain is the consequence of not acting sustainable. For too long the main goal of western countries has been profit, ignoring the extended list of benefits deriving from acting sustainable. The sustainability topic offers a wide range of arguments to discuss but in this paper only few of them are reviewed. Firstly, the 'three-legged stool ' model as a way of conceptualizing sustainability and its stability will be
The relationship between Globalization and Environment is too complex to sum up in a single judgment whether “good” or “bad.” In many respects, global trade and investment operate like other sources of economic growth. On the contrary more technical or industrialization can badly impact the environment. It greatly depends on technology that is used for production rather than the intensity.
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.
Sustainable consumption is primarily concerned with the quality of growth, rather than the quantity of growth. Analysts have made two important observations regarding the current growth models. The first is that as emerging economies continue to grow, most of the wealth is accumulated in the hands of a few wealthy individuals, leading to large inequality in society. The second is that economic growth increases well-being in society, but only to the extent to which it provides for the basic needs of people. Beyond that, growth makes hardly any marginal contribution to well-being, while having damaging impacts on the environment. Aside from this, the World Economic Forum recently started to recognize sustainable consumption as an economic opportunity and future direction for business.
Quite often, these two sides appear to face each other with opposing prescriptions for future world development. The former argues for environmental protection and creation of a stable ecosystem; the latter supports jobs and increased development of Third World countries. Yet this false dichotomy between jobs and the environment need not exist. The key is promotion of worldwide sustainable development, or development that “meets the needs of the present generation without compromising the needs of future generations,” as defined by the Worl...
On the other hand, opponents question if the benefits of globalization compensate the created downsides. In their opinion, globalization has manifested unemployment, poverty and marginalization. Additionally, it has been one of the key drivers ...
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.