Globalization

Over the years living conditions around the world have improved, even in the poorest of countries. Despite this there is still a clear difference between high-income countries and low-income countries. High-income countries are defined as countries with very productive economic systems where the majority of people have fairly high incomes, while low-income countries are defineed as having low economic systems where most people are poor and many do not meet living standards (Macionis et al., 2005, pg 439). Even though poverty can be found all over the world citizens in low-income countries are living in absolute poverty rather than relative poverty

In 1920 American women were allowed to vote. While in Papa New Guinea people were trying to find a more efficient way of farming. This shows just how unequal our world is. So what causes inequality? The cause of inequality is due to geography. Farming and domesticated animals is where the problem started. After domesticated animals, came steel leading to the exposure of germs. For a civilization to succeed it needs a steady source of crops, domesticated animals, production of steel, and early exposure to germs.

Statistics shows that almost half of the world that’s over three billion people live on less than $2.50 a day and at least 80% of humanity lives on less than $10 a day but more than 80 percent of the world's population lives in countries where income differentials are widening. Currently, the poorest 40% of world’s population hold 5% of the global income and the richest 20% holds three quarter of world’s income. Economic inequality which is the gap between poor and rich contains of disparities in the distribution of wealth and

The economic dependence between nations worldwide occurs due to Globalization. Throughout the centuries, nations would not be as powerful as they are in the present day without the help of globalization. Communication started the first form of globalization. People of different cultures shared ideas with each other, which influenced many more. Spanish conquistador, Hernán Cortés explained in Approaching Tenoctitlán, “I further made the chief understand that all the people [should] protect their lives as well as their property, and…they were adore to adore but one God”. The Spaniards were shocked to find the Indians to be uncivilized, so they had spread their own ideas of setting laws and religion. The Spaniards also offered help to protect

Inequality appears frequently in daily life; from children being discriminated against others in schools due to the fact that they have a low status compared to rich people, to workers not receiving the same rights, it generates a negative outcome in most scenarios. There are many people living in the world who are classified under two categories; the ones who are wealthy and are able to afford more than enough of their needs and plenty more of their wants, and the ones who are just about surviving with their basic human necessities. There are numerous factors which are a cause of rising gap between the rich and the poor, major issues being education, taxation, unemployment and being a member of minority ethnic groups.

Globalization could be defined as “the interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture.”. The effect globalization has on history is enormous. Without the migration aspect of globalization there would be no culture mix, no economics since no one would be trading, or no politics without the migration of cultures or opinions. Globalization is the basis of why we have history.

Globalization is taking place across the world where people can either become globalization or stay local in the state or country. People are very controversial about globalization helping local economies and local businesses. Some people believe globalization is helping local businesses into the markets and then there are some that believe that multinational corporations hurting the local small businesses. What is globalization? “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets” (). Globalization has started long before we were born.

The U.S. is also facing income inequality, one-quarter of Americans make less than $10 per hour, and this is income below poverty level. Many lower wage workers receive no health insurance, pension plans, no sick or vacation days. Recent government tax policies have helped rich investors more than the low wage earners. Technology and outsourcing has increased inequality. Emerging markets of other countries are seeing increases in their income as they become more competitive in the global marketplace. Overseas work forces are becoming more skilled and sophisticated in managing their economy; as a result, wealth is shifting to those countries.

“Globality signifies a social condition characterized by tight global economic, political, cultural, and environmental interconnections and flows that make most of the currently existing borders and boundaries irrelevant” (Steger 2017: 10). This means that everywhere is connected. There are millions of trade routes that connect the different countries with each other. When trading things, they are not just trading commodities, they trade their values, languages, and non- materialistic items. “Globalization is a spiritual concept signifying a set of social processes that transform our present social condition of conventional nationality into one of globality” (Steger 2017: 12). Globalization makes the world connected. Without globalization,

Driven by trade and investment, and aided by technology, globalization has massive effects on the environment, human rights, and human health. Globalization is defined as the process of integration and interaction among people and companies of different nations. Considering its total impact, globalization benefits thriving nations while leading to the suffering of developing countries, despite the promise of prosperity and growth. Moreover, globalization comes at great costs to the environment. Because of conspicuous consumption associated with globalization, there is overexploitation of land for natural resources, excessive burning of fossil fuels, and excessive waste to the point that only 1% of products consumed in the US are not disposed of within 6 months. Globalization has also caused human rights violations. Many corporations have accusations against them for social injustices against workers with unfair working conditions and wages. Examples of these human rights violations can be found in sweatshops that are used by many companies from Walmart to Hanes . Notably, globalization has caused many human health issues. An example of health risks is reflected in the widespread accessibility and use of tobacco that has caused a rise in a variety of respiratory illnesses. The World Health Organization estimates that 10 million people a year will die over the next two

Is the international political economy more globalized today than in 2000? One could argue that the groundwork for such a phenomenon has been soundly laid by the post-World War machinations that generated entities such as the International Monetary Fund and the World Bank. No doubt, events such as the terror attack, a particularly nasty form of globalization, that occurred on September 11th, 2001, raised awareness of globalization in general as we realized that a plot conceived in Afghanistan, Germany, and elsewhere could be brought to fruition within our own borders. (Keohane :2004) Certainly, technological innovations like the smartphone, social media, and e-commerce have enriched the already fertile global ground that brought forth a level of global interdependence, shared knowledge, and communication laying the groundwork for what is now referred to as the age of globalization. (Scholte :2000) However, much of this may have facilitated the process, but most certainly fueled global perception of the reality of an enmeshed economic, political, and social system. Whatever the case may be with the preceding, the globalization of international political economy is evident as problems from weakened states, decreasing political autonomy, and powerful non-state actors now shape international economic, political, and social spheres alongside to the consternation of the global political hegemony.

Traditional businesses have changed since the world became globalized, modern businesses therefore need to adapt themselves to survive in new environment such as increase in international trade. Generally, globalization allows businesses to expand across the world and this means that businesses are more likely to invest in foreign countries or to employ some workers from overseas by liberalizing employee mobility. It is evident that globalization not only provide employment with wage system to improve labour standard but also increase investment and funding into global economy to improve host countries, namely, the liberalization from globalization creates employment across the world and amends the quality of jobs by prescribed minimum labour wages to protect a 'race to bottom' which can be defined as a circumstance which enables companies to gain a profit from low-wage workers with poor working conditions, whereas, the international source from foreign investors will stimulate economy in host countries to raise wealth and to urge local businesses to become international companies. The essay will primarily discuss the employment aspect of globalization and also explore the perspective of labour wage in the global societies and then look at the topic of investment and funding.

they are being offered a job in order to stay afloat. “Sweatshops provide much needed jobs in countries that suffer extreme poverty” (Payne, p.102).

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

Globalization, by definition, is the integration and democratization of the world 's culture, economy, and infrastructure through transnational investment, rapid spread of communication and information technologies, and the impacts of free-market on local, regional and national economies. The golden words of late Dr. Mahbub ul Haq provides the true vision: