The gains from globalization increase net income in many places and facilitate decreases in levels of poverty and may thereby increase levels of food security. However, there is an implication of frictionless movement and perfect knowledge that understates the requirements for benefiting from globalization.
It has been largely debated whether or not this process of globalization can be stopped or even slowed now that it had begun. Some economists, such as Thomas Friedman in his book The Lexus and the Olive Treesay that globalization is an unstoppable force that will continue to forge on and reshape the world.
Globalization is not a phenomenon. It is not just some passing trend. Today it is an overarching international system shaping the domestic politics and foreign relations of virtually every country, and we need to understand it as such Friedman 7.
Others, such as Keohane and Nye, who could be considered the founders of the neoliberal school of thought, posit that globalization can indeed be slowed down, possibly stopped, and maybe even reversed.
They agree that globalization is increasing in the present world at a different degree than in any point in history. He does not believe there is any evidence that it is in any way irreversible.
Friedman, in The World is Flat, describes his view that the world is flattening because of globalization, meaning that it is becoming increasingly possible for individuals to get ahead on their own.
With the increase in and the spread in availability of technology, more individuals are able to connect to a greater amount of resources and other people from all over the world. It can democratize opportunity and democratize panic.
It makes the whales bigger and the minnows stronger. It leaves you behind faster and faster, and it catches up to you faster and faster. While it is homogenizing cultures, it is also enabling people to share their unique individuality farther and wider Friedman He argues that this evens the playing field, making individuals as strong as powerful multinational companies.
According to Friedman, it also means that the big power countries such as the United States no longer have a definite spot at the top.
Developing countries can now develop faster and will soon have as many resources to compete with core powers. Others believe that individuals are not becoming more empowered than big multinational companies. Since large companies still have more money than any individual, they still rule in his opinion.
Still others would argue that as the world is shrinking, it is not flattening. In other words, as the world becomes more interconnected it is not allowing more to get ahead, but instead it allows more people to be exploited. For example, outsourcing is using the shrinking world to exploit low labor costs and low labor standards.Perspectives on Globalization.
Globalization is the process of the world becoming more connected through technology, trade, economics, politics, and increasingly, every other aspect of people’s lives.
It makes the whales bigger and the minnows stronger. It leaves you behind faster and faster, and it catches up to you faster and faster. Today globalization is farther faster cheaper and deeper Thomas Friedman from at Rutgers University.
Globalization Controversy I was behind on Tulane coursework and actually used UCLA’s materials to help me . Globalization Can Leave Behind Faster And Faster.
On the Meaning of Globalization The technological development that characterizes the past two decades has triggered a communicational enhancement around the globe. Interconnectedness between people is greater everyday; goods, services, money, and information are exchanged between .
Benefits and Challenges from Globalization. May 11, faster transmission of technology and innovation; and ; Increasing specialization brings real economic benefits, but can also leave workers more exposed to shifts in demand for their services, potentially on short notice.
Advantages of globalization Globalization, growth to a global or worldwide scale, has a lot of advantages to the world. First, it makes a peace relation. Most of the countries have relations with each other in order to boost their economy. For example, they leave behind any bitter in the past if there is any.
Globalization enables large companies to realize economies of scale that reduce costs and prices, which in turn supports further economic growth, although this can hurt many small businesses attempting to compete domestically.