Economic Globalization And The Global Economy

• Describe the concepts of capital and globalization presented in the introductory essay. Karl Marx is describing capital as a social order based on the class of people (Longhofer).

As George Soros, the Chairman of Soros Fund Management said: "I think there 's a lot of merit in an international economy and global markets, but they 're not sufficient because markets don 't look after social needs" (2000). Globalization allows businesses to grow due to the elimination of stringent trade restrictions and tariffs. Globalization also allows undeveloped nations the opportunity to flourish by creating jobs that were previously unavailable. As Lechner states in his Globalization Debates - Good vs. Bad, those in opposition believe that globalization is dangerous due to the “...inequities of oppressive global capitalism” (2000-2001). So, what are the upsides and downsides to globalization?

Globalization is changing the economic landscape in ways humans have never experienced before. Now more than ever corporations are moving their means of production overseas seeking the cheapest possible wages to produce their goods. This not only is affecting the labor market here in the United States, but it is seriously affecting the lives of workers worldwide, mainly impoverished nations. Low pay, long hours and almost no regulations regarding working conditions are contributing to the horrible working and living environments these workers must endure so that corporations can make the largest possible profits. Union have also felt the repercussions of globalism. Membership continues to plummet, and employers are benefiting from lack of government regulations that are opening the spillway for global capitalistic domination. Unions are losing ground on every front. It is essential that labor unions make some drastic changes in their structure, their policies and their organizing strategies so they can face the new challenges posed by a global economy ran by global capitalists who currently hold all the chips.

Economic globalization, or the continuous increase of worldwide interconnectedness, has a vast impact on many countries, and among these impacts are economic changes, such as an increased Gross Domestic Product. An increased Gross Domestic Product is often beneficial for states, as it is an indicator of overall income. If overall income is increased due to economic globalization, there will be an increased budget for states to spend on a variety of public services, such as education and healthcare, which would therefore increase the standard of living in that state. Economic globalization has become more evident in an industrialized and technologically advanced international sphere, and this can be exemplified by Poland’s accession into the European Union in 2004, which has resulted in an increased economic welfare. Poland’s surge in economic welfare can be see seen through an increase in Gross Domestic Product, which acts as a reflection of an increase in exported goods, and a lower unemployment rate.

Since the development of the Internet and other communication sharing technology, the push for free trade agreements, and the sustaining of a prolonged period of international peace, globalization has rapidly taken over political discourse and dealings. The emphasis, in recent decades, has been towards economic globalization with the push for international stock exchanges, and the development of the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO). Economic globalization is the development of an interdependent and integrated global economy of independent nation’s economies. It occurs through the development of cross-border movement of technology, capital, labour, services, and products. Economic globalization is a product of neo-liberal capitalist market values. The capitalist global economy has lead to an apparent improved global market however the burden of the economic nature of globalization has developed into a dilemma of environmental and ecological destruction. Economic globalization has increased consumption and consumerism, continued the domination of neo-colonialism through eco-imperialism, and dictated the discourse surrounding international environmental protocol and treaties.

What impacts on the economy has globalization made around the world? What is the positive in addition to the negative impacts of globalization?

The end of 20th century, more and more business are growing constantly, business are wanted to go global by expanding their business overseas. In today’s global market it reflects among the measures of economic activity going in the world economy. For the worldwide economy to be existing a rising share of the financial actions occurring between countries to country who live in distinctive nations. It can involve trade, investments, production labour and also viewing its economic situations in nations and between nations. Globalisation has similar content as global market but it is more abroad. Globalization can be considered as the growing economic and financial integration of economies around the globe.

Globalization one of the most controversial and widely recognized term, and is biggest threat to liberty in the 21st century. The consolidation of power and wealth into the hands of a few has absolutely no benefit, except of course to the power hungry CEO 's of transnational’s looking to suck the life out of every nation they can exploit. Despite the propaganda from the global elite it 's done nothing but destroy the middle class in United States and any other industrialized nation. It will eliminate more cultures and enslave more people than even the most ambitious tyrant from history. Globalization is uneven and incomplete because the pace of globalization varies over time, and not all societies are fully integrated into the global

The globalization of the World economy has inspired companies to expand abroad to acquire competitive advantage (Longnecker, 2004). In light of this expansion, companies send their employees to foreign countries on assignments. The challenge that comes with this kind of transfer revolves around the employee 's willingness to uproot their lives and relocate to a new state (Longnecker, 2004). As a result, companies are now developing attractive compensation packages to motivate the employees to accept these assignments (Longnecker, 2004). This paper will analyze the concept of expatriate compensation while highlighting the dynamics involved in developing one.

It can be argued that economic globalization may or may not be an irreversible trend. There are several significant effects of economic globalization. There is statistical evidence for positive financial effects as well as proposals that there is a power imbalance between developing and developed countries in the global economy. Furthermore, economic globalization has an impact on world cultures.

There are many controversial about economic globalization which has brought the international strategies as technology and socioeconomic and environmental development from first world to expand business over the world. The economic is based on Neo-liberalism policy which creates inequality among of societies stated by (International Relations, 2016). The flowing of the product life cycle in the global economy is mostly interconnected with developing countries, because there are lots of opportunities for them. One of the main reasons for the global economic crisis in 2008 was printing the monetary policy, too much borrowing of money and buying houses with high price, but lower interest rates causing inflation as well as crated debt in which effects long-term around the world mentioned by (Petrov, 2008). As a result, global poverty has many negative effects on the global economy, especially in countries which are heavily relying on developed countries. The global economy can easily create finance stress that causing a country’s political unstable, social conflict, increase of illiterates and lack of healthcare system for a poor country. This essay will explore the effect the global economy on third poverty using dependency theory and show disadvantages such as foreign direct investment and International Monetary Fund (IMF) intervention and environmental degradation.

Economic globalization has become the most important feature and a general trend of present world economic development. Globalization is a phenomenon and also a process of development of mankind and human society (Hamilton, 2008). It is the essential feature of the modern age. Globalization is the cross-border flows of capital and goods, including capital, labour, technology and natural resources (Bożyk, Misala & Puławski, 2002). Economic globalization is a historical process, and the germination of it could date back to the 16th century. After the industrial revolution, capitalist commodity economy, modern industry and transportation have been developing rapidly. The world market was fast expanded and the foreign trade was

Venezuela, also known as the Bolivarian Republic of Venezuela, is located on the northern coast of South America and is bordered by Brazil, Colombia and Guyana. The main language spoken is Spanish, but there are numerous other languages spoken around the cities. In Venezuela, there is no dominant ethnicity. Nationalities can range from Spanish and German to African and Arabic. The major religion is Roman Catholic, but there are a few other religions that are less common. Venezuela is normally a hot and tropical place where the Andes Mountains and Maracaibo Lowlands are located. As of July 2015, the population of Venezuela was 29,275,460, the 45th largest country in the world (Central Intelligence Agency). Since Venezuela is located so close to the equator, it only really experiences two seasons: a wet period and a dry period.

Over the past several decades, the economies of the world have become increasingly linked, through expanded international trade in services as well as primary and manufactured goods, through portfolio investments such as international loans and purchases of stock, and through direct foreign investment, especially on the part of large multinational corporations. At the same time, foreign aid has increased much less in real terms and has become dwarfed by the now much larger flows of both private capital, and remittances. These linkages have had a marked effect on the developing world. But developing countries are importing and exporting more from each other, as well as

In today’s world, with a few notable exceptions, nearly everyone in every region of the world has access to the same products, information and services. A long-distance relationship is no longer so distant, since each party involved in the relationship can communicate through Skype, Facebook or through any of the vast amount of social media available. A person in Easter Island, one of the most remote inhabited islands in the world, can go to the other side of the world and travel to Canada. An economic crisis in Argentina could affect the economic landscape in Brazil. A person in Chile or Peru can buy an Abercrombie and Fitch t-shirt because this transnational corporation decided to expand its market to developing countries, or as you might prefer, to emerging economies in South America. Although many of these examples might be trivial, these are the consequences of globalization.