Globalization And Its Effect On Society Essay

2301 Words10 Pages
Globalization is the process in which economic, political, social, and cultural differences are lessened by the exchange of goods and ideas across national boundaries. Greater interactions among countries eliminate the barriers created by distance. The speed and scope of globalization led to differing opinions about the positive or negative impacts on society. Proponents of globalization argue that free trade and free movement of labor allows more variety of consumer goods, allocation of skilled workers, and a continuous flow of new ideas to any market around the world. While opponents of globalization claim that the creation of an international free market has a huge pressure on the individuals of the developed nations who are at risk out job outsourcing. Overall, economic globalization has had a positive effect on free trade and economic prosperity for developed countries, which can be deemed greater than the negative effect on some developing nations by expanding their domestic income inequality disparity. For thousands of years, people—and, later, corporations—have been buying from and selling to each other; at first, performing sales transactions with neighboring communities and later, with neighboring countries. The end of communism in the last decade of the twentieth century opened a new route of capitalist enterprise. Advances in telecommunications and computers meant the whole world could communicate quickly and easily, and the growth of multinational corporations
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