Globalization is inevitable. Whether we approve of it or not; it is happening and it is affecting the lives of billions of people all over the world. That is why I believe it's important to study the positive and negative effects of globalization. It was interesting to have our own discussion in class (Friday 9/10) on the overall impact of globalization on today's world. Many viewpoints were expressed and all of them were valid. It is hard to determine whether the effects of globalization are strictly positive or negative.
The business world seems to be favoring globalization. I believe that humanity should have a greater goal than monetary growth. George Soros criticized globalization for making the provision of private goods more important than the provision of public goods such as peace, the eradication of poverty, the protection of human rights and the environment (The Pros and Cons of Globalization, p.143). And since globalization is happening as we speak, we have the power to make the necessary changes so that both business and people benefit from it. It is important to focus on a better use of generated wealth (investing in the development of industries in countries with limited resources, empowering locals to manage their own businesses, improving the quality of health care of people living in developing countries).
Globalization is one of the unique characteristics of this century. It is our responsibility to make the most out of it for everyone involved.
Agreed! My first thought about arguing for or against globalization is that it's a little like arguing for or against gravity. It's inevitable.
ReplyDeleteBut if you can harness it for good. Wow.
I think the comment that 'the world is flat' is truly enlightening. The advance in communication technologies (e.g., Internet, smart phones) in the past 20+ years have really been flattening the earth. I personally believe that we need to embrace the reality of globalization and adjust ourselves to the flattened world.
ReplyDeleteIt doesn't always work better for you (e.g., Do you feel luck or cursed to stay in a company after a massive layout? You still have a job but your workload has just doubled.) But I think globalization is a reality we need to face up to.
And my hats off to Ganka to think positively on creating mutual benefits from globalization !!!
There's a great book by Thomas Friedman called The World Is Flat. It's about globalization and particularly about globalization from a business perspective.
ReplyDeletehttp://www.amazon.com/World-Flat-History-Twenty-first-Century/dp/0374292884
Completely agreed. Whilst globalization has its own shortcomings in certain regions, I think from the macroeconomics perspective, it is a win-win phenomenon:)
ReplyDeleteIt is a fantastic feeling for me to see my parents, who used to pretty much live in an ancient and outdated way in India without any technology, use computers and laptops to chat with me:), thanks to globalization. computers have become toys to kids even in villages in India:)