Globalization Influences on Modern Society

Topics: Whaling, International Whaling Commission, Economic inequality Pages: 7 (2371 words) Published: December 5, 2012
Globalization Influences on Modern Society
Globalization is killing the globe. Globalization is a way of interaction between the people, transnational agencies, organizations, and governments of different nations. Globalization is not new. Thousands of years ago, people began commercial activity between lands separate by vast distances. The Silk Road was the most famous line that brought music, culture, ideas, foods and routes connecting East and West. Fischer’s article “Globalization and Its Challenges” shows economic globalization grew up in the period before 1914, but was set back by the two World Wars and the Great Depression. The international financial order that was established at the end of World War II sought to restore the volume of world trade, and by 1973, world trade as a percentage of world GDP was back to its 1913 level – and it has continued to grow almost every year (44). Rifkin describes that “globalization as we know it may be traced to a 1944 meeting in Bretton Woods, New Hampshire, at which representatives from forty-five nations sketched out of a plan for post-World War II economic recovery” (qtd. in Rifkin 171). In “Globalization and Its Challenges” Fischer states that while the founders of the Bretton Woods system saw the restoration of trade in goods and services as necessary to the recovery of the global economy, they did not have the same optimistic of capital flows. Nonetheless, capital flows among the industrialized countries did recover during the 1950s, and became stronger in the 1960s. Rapidly they became too powerful for the pegged exchange rate system to survive, and by 1973, the Bretton Woods adjustable peg system issued flexible exchange rates among the major countries (89). Rifkin’s article “Spiritual Perspectives on Globalization”, shows globalization is a ongoing process of greater economic interdependence among countries, is reflected in the increasing amount of cross-border trade in goods and services, the increasing volume of international financial flows, and increasing flows of labor (170). All those are at an abstract level. In terms of people’s daily lives, globalization means that the residents of one country are more likely now than they were fifty years ago: to buy the products of another country; to invest in another country; to earn money from other countries; to talk on the telephone to people in other countries; to visit other countries; and to know news about other countries. Globalization is much more than an economic phenomenon. The technological and political change that drives the process of economic globalization has massive non- economic consequences that are environment and human physical well-being. I believe globalization bring people more disadvantages than advantages.

First of all, the economic development of the past few decades has increased in cross-border trade and investment so strong that many people believe the world economy has entered a new era. So many countries say that export trade and employment rates have increased in the past ten years. Therefore, many countries need more investment from outside in order to improve the rate of their economic growth. In “Poverty and Environment Degradation”, Mabogunje pointed out that a certain level of infrastructure, and economic and political stability are necessary in order to attract more trade opportunities (176). Therefore the globalization has been driven by policies that have opened economies domestically. Many governments use free-market economic policy; creating lots of new opportunities for international trade and investment, not more regulated markets.

On the other hand, the benefits of globalization are not common. In “ The Globalization Gap” Isaak states that the good news globally is that over the last 20 years of the twentieth century, the share of extremely poor people in the world (those living on $2 a day) fell from 38% in 1978 to 19% in 1998. Still, the world...
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