In the Long Run Everyone Will Benefit from Globalization
Globalization is a term which became popular in the 1980's to describe the increasing movement of people, knowledge, goods and money across nation-state boundaries which has led to increased interconnections amongst the worlds population; economically, politically and culturally. Although many think of the term in relation to economics, this process has political and cultural implications as well.
There are optimistic and pessimistic approaches to the globalization argument and in this assignment, I intend to outline and evaluate the optimist's argument, which is that 'all will benefit from globalization.'
"Globalization is a promise of efficiency in spreading the good things of life to those who lack them." (Managing globalization pg x1)
As a general overview, optimists describe as the ongoing global trend toward the freer flow of trade and investment across boarders and the resulting integration of the national economy. Because it expands economic freedom and encourages competition globalization raises productivity and living standards of all. Globalization for less developed countries encourages faster growth, in turn promoting poverty reduction, democratisation and higher labour and environmental standards. It also gives citizens greater individual freedom to express views and experience cultures through such mediums as television and the internet, which encourage understanding around the world.
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