The Effects of Economic Globalization on Cultures Around the World

Topics: United States, Globalization, Culture Pages: 7 (2661 words) Published: July 16, 2013
The Effects of Economic Globalization on Cultures Around the World Dawson College 300-303-DW Section 2
Abstract
This paper attempts to explain the possible effects of economic globalization on cultures around the world. It concludes that there is a possibility for American culture to be spread all over the world, and become the dominant culture of the globe. In doing so there is a possibility for the loss of culture in all nations and it being replaced with American culture. This paper also discusses the potential loss of national identity among nations, and especially among smaller, lesser known, and developing countries. It also discusses possible causes for this phenomenon as well as possible solutions.

Although economic globalization is often thought of as an over-hyped fad of the 1990s (Naim, 2004) it has already begun on a large scale, and the consequences of which can be seen around the world. Economic Globalization can be defined in this case as the expansion of global financial markets, the growth of multi-national organizations, and the standardization of economies on a global scale (Tavin, & Hausman, 2004). This type of globalization has a profound effect on cultures around the world. Culture can be defined as the shared ideals, values, and beliefs that people use to interpret experience and generate behavior, and that are reflected by their behavior. In this case, the effect economic globalization has on the artistic facet of culture will be the focal point. As the phenomenon of economic globalization progresses it will become easier for corporations to become multi-national. The first corporations that are able to succeed in doing this will create monopolies or oligopolies in their respective markets, making it extremely difficult or impossible for smaller corporations to compete, thus driving them out of the market. With fewer companies leading the marketplace, there will be a smaller range of different products to choose from. If these corporations’ good or service is art, this will have a profound effect on culture. Varied art forms will decrease, and of the art forms that survive they will be homogenous around the world. This has already started. Because the United States is the sole remaining global superpower, it is almost always American corporations that have the means for their corporations to spread. In doing so they spread almost exclusively American culture. Thus the more homogenous culture becomes around the world, the more it will become like that of America. This phenomenon is often referred to as Americanization. Economic globalization has and continues to create a culturally homogenous world based on American culture, which has negative consequences to both foreign nations, as well as North America.

Economic Globalization has already been implemented on a large scale. In the same way the introduction of the telegraph, and the steam engine was hailed for shrinking the world, the advent of the Internet and the jet engine have done so in a colossal way (Naim, 2004). These inventions have not only allowed economies to communicate and visit each other more rapidly than ever before, but they have allowed for the rapid movement of capital, information, and labour. Companies such as McDonalds, Starbucks, and Guinness Beer have expanded their markets to almost every country in the globe, and have maintained their stringent policies of quality control. So much so, that it is said to be difficult to tell the difference between a Guinness draft straight from the St. James Brewery in Dublin, Ireland, and one brewed and bought in North America. The movement of labour has also been rapidly increasing. Automotive companies such as Volkswagen have moved almost all production to their plants in Mexico from where they were originally built, in Wolfsburg, Germany. Goods also move much more freely between countries now due to advances in technology and transportation, but also due to the removal of...

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