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 the furthermost parts of the world. International travel and communication now represent ordinary aspects of life. This phenomenon is called globalization.
The term entered common vocabulary in the 1980's and it grew so popular that the economic, political and cultural background of today is now described as "The Era of Globalization." However, this term needs to be thoroughly clarified as it means different things to different people. To some, it is a natural phenomenon of wide-spreading economic, social, and political activities of different countries beyond their physical borders. In these people's view, the increase in free trade and international exchange of information, labor and technology represents a beneficial process of economic development. Yet, there are others who believe globalization can damage the level of employment, the social progress and the cultural identity of a country. As a result of these divergent views on the matter, the term "globalization" and the phenomenon it names are the subject of a very strong debate.
Thus the natural question is "What exactly is globalization?" The answer is that there is no answer, or at least that there is no precise, commonly agreed upon answer. As David Dollar said in the article "Growth is Good for the Poor", "amazingly for so widely
used a term [globalization], there does not appear to be any precise, widely agreed definition. Indeed the breadth of meanings attached to it seems to be increasing rather than narrowing over time, taking on cultural, political, and other connotations in addition to the economic." Even though globalization cannot be defined in a precise way, there is a widespread description of it as "the