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Gobalization - A Future Perfec

John Micklethwait and Adrian Wooldridge's book A Future Perfect was a descriptive piece of writing regarding globalization and provided strong arguements for both sides of this highly debated issue.

Throughout the book, the two authors show very solid arguments for both sides of the globalization debate, but it is clear that the book is pro-globalization and leaves you with a sense of feeling that globalization is for better, not worse.

A Future Perfect starts off with a couple of famous economists, John Maynard Keynes and Friedrich von Hayek. These two individuals had much heated views on how to economically handle the Great Depression in the 1930's. Hayek offered advice of free trade, privatization and deregulation; this was globalization ahead of its time while Keynes offered government spending as a solution. Unfortunately, most nations took Keynes approach and the result was a snowball effect of government spending leading to federal debt.

The book then starts to establish its arguement both for and against globalization. It lists technology, capital markets and management as the three forces that drive globalization. Examples of technology driving the marketplace are shopping malls being built as a result from air-co


But, as Micklethwait and Wooldridge state, history does have a tendency to repeat itself which could result in what happened after the first World War, isolationism. This would be the greatest set back of globalization. But, unlike fifty years ago, mass communication is present and it would be hard for nationalists like Hitler, Stalin and Mussolini the rise once again and isolate themselves in a world where everyone is 'just a click away'.

As Micklethwait and Wooldridge suggest, it is not doubted that globalization increases competition, but that does not have to be a bad thing. Increased competition in anything, weather it is business, school or sports forces people to keep improving. As a result, technology will continue to decline in price and rise in quality, an overall gain for the consumer. Hence, this will not only create more efficient products, but greater rewards for those who keep advancing.

Micklethwait and Wooldridge believe that globalization is the 'next step' forward since Thomas Edison discovered electricity. They support that like electricity, the Internet will allow for business to become more efficient. Comparative advantage is a classic globalphilie notion that suppots efficiency. If everyone produces what the are best at, everyone benefits, both rich and poor. Not only do people benefit from trade in a global environment, but also learn and acquire new ski

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Approximate Word count = 938
Approximate Pages = 4 (250 words per page double spaced)


  

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