Globalization
The spread of globalization is a fast growing trend that allows money, products, and labor to flow freely across national borders. It provides a link between nations, intertwining a greater variety of cultures into a person's life. Although the increase of globalization could be perceived as a beneficial social change, there are long-term consequences that may affect our whole society. These long-term global changes widen the income gap between rich and poor, diminish equality between occupations and promote a monoculture society. The globalization of production, marketing, and distribution is going to have a negative effect on the United States economy in the near future.If economic globalization keeps increasing over the next dozen years, unemployment will become unreasonably high and the eminent paying jobs will be reserved for the educated. "...industrial nations like America provide financing, expertise, and creativity in arranging high value products and services...problem is that such occupations now account for only about 20% of the labor force..."(Harper, pg.47) If routine labor can be done cheaper
Beyond the spread of globalization, we must think about the rising global inequalities that follow. Once our household has emerged into the global market, we have to realize that many decisions affecting our lives are made without our knowledge or consent. The global market subjects the power of decision to powerful organizations such as the government, large firms and other market agencies. (Harper) Since all products, labor, services and markets are becoming intertwined between countries, how will we determine a fair price for the good consumed and who's currency do we base it on? There is not a constant fixed price that would be fair for everyone in the whole world due to different values of currency. "...how the Ladakhi people, whose economy is not governed by money... In one day a tourist would spend the same amount that a Ladakhi family might in a year." (McMichael, pg.xxix) The global movement that allows capital to move openly between countries not only impacts domestic economies, but also directly puts pressure on domestic currency, affecting the value of a specific currency compared to another. If
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Approximate Word count = 755
Approximate Pages = 3 (250 words per page double spaced)
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