Globalization And Its Discontents : The Promise Of Global Institutions Essay

874 Words4 Pages
Globalization is the integration among nations of political views, products, ideas, and cultures. It helps by stimulating innovation, communication, and offers developing countries to catch up to industrialized countries. With the use of advanced technologies, large corporations can supply the world populous with consumer goods that would only be available in 1st world countries. Despite the numerous contributions that globalization has brought, it also carries with it disadvantages. Large corporations, through globalization and expansion, foster the notion of inequality by further separating the economic gap between the developing and industrialized nations, oppressing laborers, and exploiting women across cultures. The primary issue for corporations ' mistreatment lies within business leaders ' desire to increase profit gains while decreasing labor cost. In the article, "Globalization and Its Discontents: The Promise of Global Institutions", Joseph Stiglitz discusses the inequalities of the economic phenomenon. Stiglitz informed his reader the unfairness of globalization which ignited the "riots and protests against the policies of and actions by institutions of globalization" (Stilglitz 221). He states that the advantages of globalization on developing countries helped reduce "the sense of isolation", provide foreign aid, and integrate countries worldwide. However, the author primarily focuses on the disadvantages that globalization has brought onto these impoverished
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