Assess The Impact Of Globalization On The Quality Of Life

Globalization has risen within the world economy. The result of globalization is significant and can very well lead to the growth and successfulness of a country’s economy. However, Nelson Mandela states that globalization will result in an increasing gap between the upper and lower class of society. Mandela’s statements are inaccurate in regards to globalization, as globalization leads to a higher standard of living, greater efficiency, and technological advancement. Therefore, globalization dramatically benefits society evidently because of an increase in the standard of living, greater efficiency, and technological advancement.

Globalization positively impacts the quality of life because of the increase in GDP per capita, decrease in

A certain country cannot produce all of the goods and services available in the world, therefore countries must trade their goods and services in exchange for another country’s goods and services. In order to maximize efficiency, country’s must follow the theory of comparative advantage. Comparative advantage is specializing in producing certain products and trading for other products at a lower cost. This theory will allow for maximum efficiency in the trading and producing of products. This theory can only be executed through globalization, countries trade and sell certain products with other countries. Comparative advantage will significantly benefit the economy as well as increase the efficiency and this is a result of globalization. Furthermore, globalization will provide the availability of goods and services throughout the world to the consumer. This widespread of products that are available creates a higher utility for companies and everyone as a whole. Utility is the satisfaction gained from any action, therefore more satisfaction will be gained if more products from different countries are made available. This is because globalization allows countries to integrate their goods and services within the global economy. Humans typically gain satisfaction from a widespread of choices, globalization allows for more products to be bought and sold within the world, as well

Advancement in technology has allowed consumers to connect to anyone anywhere in the world, as well as advance society. Technology could not have been as advanced as it is today if it weren’t for globalization. In this case, globalization is the integration of technology throughout the world. As stated in The Commanding Heights, “This was the era when new innovations and technologies were knitting the world together-preeminently, the railroad, the steamship, and the telegraph. The trans-Atlantic crossing had been shortened from forty-five days to seven or eight.” (399). Technologic advancement can mean various things, in this scenario, globalization was used to shorten the trans-Atlantic crossing. Technological advance and innovation cannot be done without the share of ideas throughout the world. Therefore, globalization is the sole reason for technological advancement. Furthermore, the creation of the internet correlate with globalization. The internet couldn’t be created without global communications, essentially without globalization the internet would not exist. According to “Skwirk”, “Developments in information and communication technology have changed our way of life, whether it is at home, at work, at school or at leisure. The internet and the development of digital technology (computer-based technology) in particular, have made the most significant