Thus, the benefits of globalization are numerous; it produces extra wealth for domestic and international firms; it allows the end consumer the possibilities of purchasing goods manufactured in sold worldwide; and it supports educational resources available to students everywhere at reduced costs.
The Threats Posed by Globalization
Just as globalization has many benefits, it is also argued that it presents many threats, most to underprivileged countries. A significant threat to underdeveloped nations is that globalization has destroyed potential and previously held jobs and their lives become more insecure (Stiglitz, 2002). Most of these countries that view globalization as a threat are poorer and have not been able to keep up with the technological advances offered by globalization. Jobs are lost and domestically generated income is depleted when large global companies enter into a poor country and set up shop. These countries have felt increasingly powerless against forces beyond their control; they have seen their democracies undermined, their cultures eroded (Stiglitz, 2002). Research in this area indicates that if globalization continues to be conducted in the way that it has been in the past, it will create poverty and instability. For example, rich countries have created seeds to produce genetically modified goods in an attempt to cure world starvation. However, poor farmers are unable to purchase the seeds, and the richer countries own all of the patents. Thus, the farmers in poorer countries are unable to farm these crops. In addition, when food is donated by large global companies, poorer countries are negatively impacted once again because food is not purchased internally, enabling many to lost jobs and become even poorer. Thus, it appears that globalization provides many benefits to economically advantaged countries, but to poorer ones.
The Affects of Globalization on a Society's Beliefs, Economy & Politics
Globalization has also impacted a society's beliefs, economy and politics. For example, in economically...
Globalization arguably began even before Marco Polo’s expeditions, possibly being traceable to Alexander the Great’s establishment of overland routes between Eastern Europe and India. The assumption that globalization equals Americanization is profoundly arrogant, and is also ignorant of the history, meaning, and implications of globalization. Globalization implies integration and interdependence of the world. Predating the United States of America, globalization nevertheless reached a peak in the 20th century, when a
That said, Goodhart believes that global governance, if pushed too far into sovereign nations' doings, can in fact undermine popular sovereignty as "a viable conception of democracy" but it is not doing that and in fact, in a globalized world that is increasingly interdependence needs a new kind of democracy. The new sovereigntists' views are normative while Goodhart's are more along the lines o positivism. Basically, Goodhart argues that
The global "mindset" that companies must have is defined as "…the ability to develop and interpret criteria for business performance" that are not relying on the "assumptions of a single country, culture or context to implement those criteria appropriately…" (Begley, et al., 2003). Begley and colleagues insist that the "truly globalized corporation" sees globalization as more of a "mind-set" than a "structure" per se (p. 1). The three mind-sets that
Often, an expanded market means that a company will need to undertake a strong marketing strategy based upon thorough research in order to see how the expansion would affect another market. The problem is, not all companies wish to do so because not all are good or successful at this undertaking. Yet again, if a company wishes to stay competitive, make its profits year after year, and enjoy a
Globalization and Public Administration globalization in public administration / Human resources in Pub. Admin. Future of public administration given globalization trends The field of public administration is reliant on globalization to obtain up-to-date information on the issues surrounding daily work performances. This aspect sets in the perspective of efficiency and accuracy in decision making with a more sure measure to attain a specified goal. The fields of public relation in the future will
Globalization The term globalization means a process of increased interconnectedness among countries especially in terms of economy, politics as well as culture. The effect of globalization has been felt positively in all corners of the world this is due to the fact that it has been associated with most vital issues. A section of economists analyze globalization as a fast train which a country needs to build a platform so that it
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