Globalization

1491 WordsApr 3, 20136 Pages
Globalization: A Review of the Literature Sharon Kolb Organizational Behavior Dr. Aguilar December 18th, 2012 Globalization: A Review of the Literature Globalization, in the economic sense, refers to the cross border transactions of goods and services between different countries across the globe through the elimination of trade barriers. However, globalization is not limited to only its economic sense.…show more content…
President Hoover, in an attempt to help save the U.S. farms, had Congress pass the Smoot-Harley Tariff Act in 1930, which drove protective tariffs to an all time high. However, rather than this act helping the farmers, it hurt them even worse by causing a rift between the U.S. and their and simply reversing any liberalization and trade agreements that had previously been put in place. The U.S. was other Nations. The farmers were over producing in hopes of having a prosperous time and but no one was buying our products either as a result. When President Franklin D. Roosevelt was voted into office, he soon convinced Congress to approve the Reciprocal Trade Agreement Act. This act allowed the President to negotiate bilateral trade agreements with other countries. This re-opened the door of communication and started to help rebuild the mutual trust with other countries, thus starting a new era of to what we know today as globalization. President Roosevelt was considered to be an internationalist, not isolationist, like his predecessors. He knew that in order for our economy to survive and one day thrive that we had to trade internationally. The days of high protective tariffs were slowly becoming a thing of the past. President Roosevelt felt that creating a global organization, hence the United Nations, would help to reduce the
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