Globalization In The Caribbean Case Study

According to Merrian Webster it is the offering of similar or identical goods at different prices to different buyers. In other words it is selling goods Y for multiple prices to different groups of individuals for example, the reduction in price of school supplies for college students of a lesser fee for people who are considered of old age. Pigou (1920) identified three different types of price discrimination; First-degree price discrimination, second-degree price discrimination and Third-degree price discrimination.

First- degree discrimination involves the seller charging maximum prices the consumer is willing to pay. In doing so the seller must collect information from the desired market in order to identify the consumer’s willingness

In recent years the Caribbean region has been reported to have a significant growth in trading services. For instance, during 1990 to 2005, growth in world trade volume (commodities and services) averaged 6.5%, significantly faster than growth in economic activity. Cooperate outsourcing has also been a recent development as a result of globalization with the Caribbean. Outsourcing is defined simply as the contracting of an external supplier to carry out a specific task, (Globalisation in the Caribbean, 2008.) Globalisation has also led to the development of E-government, Governments has been the developing a wide range of online services through the internet. For example; law, policy, regulations, crime rates, weather, health, culture and history etc. E-commerce is also a benefitting factor of globalisation. E-commerce, defined as the production, distribution, marketing, sales or delivery of goods and services by electronic means, (Globalisation in the Caribbean,

In some instances this can be seen as a positive as it forces Caribbean farmers to be productive and competitive, as it forces them to incorporate highly graded technology and the use of information in their marketing strategy. Caribbean countries are no longer dependent on their Agricultural industry such as coca and banana etc. Globalization has also aided in the technological advancements within the Caribbean region, tourism has flourished. There has also been rapid growth its telecommunication and telemarketing services.

On the other hand Globalisation has resulted in many negative factors such as the exploitation of workers. Though globalization may generate employment opportunities, the jobs that are created may be arduous, with long gruelling hours and low pay that may also be in unpleasant working conditions. The jobs may also be low skilled and repetitive and workers may feel exploited. There is also the fact that certain previous jobs would no longer be available or lesser workmen would be required as technology can now replace the tasks of