Trading Barbs: A Primer On The Globalization Debate
Michael Leigh
Article Summaries
9-5-10
Trading Barbs: A Primer on the Globalization Debate Globalization of world trade is a long term event that has been increasing living standards and overall economic welfare for many nations. However an increase in the number of job loses in industries that are exposed to international competition causes some people to dislike the effects of globalization. Angus Maddison believed that economic advancement over time was sustained by conquest or settlement of relatively empty areas that had fertile land, new biological resources or a potential to accommodate transfers of population, crops and livestock; international trade and capital movements; and technological and institutional innovation. Benefits …show more content…
One thing is for certain globalization is here to stay. In this article many ideas about globalization are debated. The first idea is that globalization is a casualty of the economic crisis. However this is not true because globalization is much more than international trade and investment. Globalization did not die due to economic crisis in fact people are continuing to interconnect in all aspects of social life not just in economics.
The next idea is that globalization is nothing new. Indeed people have been spreading around the globe and early inventions such as telegraphs and steamboats started globalization. However in modern time’s new inventions like computers, internet, and modern transportation has increased globalization at an exponential rate. This rate of increase is like no other advancement in human history and has yet to reach full potential. In that sense modern globalization is relatively …show more content…
The crisis is just one of the many problems on an international level that can only be solved through international collaboration and regulations.
Has Globalization Passed Its Peak? Not that long ago, the free worldwide flow of capital, goods, and labor, known as economic globalization seemed both inevitable and inexorable. Many nations embraced the rapid technological changes and international markets in order to liberalize there economies and maximize gains. Many policymakers focused on preparing people for a world of ever increasing interconnectedness. Due to the financial crisis of the 1990’s the American dollar fell in value and seemed to be heading towards a more drastic drop. As outsourcing continued the American middle class began to feel insecure. Historian Niall Ferguson and Harold James noted that the previous era of globalization from about 1870 to 1914 once seemed unstoppable but came to a disastrous end. They also warned that this could happen to today’s era of
Article Summaries
9-5-10
Trading Barbs: A Primer on the Globalization Debate Globalization of world trade is a long term event that has been increasing living standards and overall economic welfare for many nations. However an increase in the number of job loses in industries that are exposed to international competition causes some people to dislike the effects of globalization. Angus Maddison believed that economic advancement over time was sustained by conquest or settlement of relatively empty areas that had fertile land, new biological resources or a potential to accommodate transfers of population, crops and livestock; international trade and capital movements; and technological and institutional innovation. Benefits …show more content…
One thing is for certain globalization is here to stay. In this article many ideas about globalization are debated. The first idea is that globalization is a casualty of the economic crisis. However this is not true because globalization is much more than international trade and investment. Globalization did not die due to economic crisis in fact people are continuing to interconnect in all aspects of social life not just in economics.
The next idea is that globalization is nothing new. Indeed people have been spreading around the globe and early inventions such as telegraphs and steamboats started globalization. However in modern time’s new inventions like computers, internet, and modern transportation has increased globalization at an exponential rate. This rate of increase is like no other advancement in human history and has yet to reach full potential. In that sense modern globalization is relatively …show more content…
The crisis is just one of the many problems on an international level that can only be solved through international collaboration and regulations.
Has Globalization Passed Its Peak? Not that long ago, the free worldwide flow of capital, goods, and labor, known as economic globalization seemed both inevitable and inexorable. Many nations embraced the rapid technological changes and international markets in order to liberalize there economies and maximize gains. Many policymakers focused on preparing people for a world of ever increasing interconnectedness. Due to the financial crisis of the 1990’s the American dollar fell in value and seemed to be heading towards a more drastic drop. As outsourcing continued the American middle class began to feel insecure. Historian Niall Ferguson and Harold James noted that the previous era of globalization from about 1870 to 1914 once seemed unstoppable but came to a disastrous end. They also warned that this could happen to today’s era of