Globalization's Negative Impact On The Healthcare Industry

Decent Essays
Globalization is the process of interaction and integration of people, companies and governments of different nations. The process is driven by international trade, investment and information technology. (Globalization 101, 2015). Basically, globalization is what happens when countries do something together and how it is affected throughout the world

There are three factors that can lead to globalization. Political, economic and sociocultural.
An example of a political factor is when the government passes new legislation such as the passing the Affordable Care Act in March of 2010. This legislation has a significant impact on the healthcare industry as well as non-healthcare companies across the country (Business Dictionary, 2016). An
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One example of this is the destabilization of the family unit (Thomas, 2007). Traditionally, the family unit has been the center of many cultures. Globalization has introduced longer work days and weeks, as a result, families are spending less time together. Parents are forced to leave the care of their children to others which studies are showing have negative impacts. Another example is the disappearance of the Rain Forests and the threat of extinction to the numerous species that live there. The world’s population continues to grow, so does the need for space. Since we can’t grow more space. As we develop these beautiful untouched lands we are also displacing the natural inhabitants of this land. With less land to live on and diminishing food sources. We are seeing once thriving species dying off. Each of these is an example of a noneconomic consequence of globalization.
One of the biggest ethical issues, globalization creates are the disparities in fair wages for people in other countries the gap between rich and poor in the world is still very large. The bottom 2.5 billion, 40% of the world’s population live on less than $2 a day and receive only 5% of the world’s income (Ehrenfeld, n.d.) Another example of an ethical issue the impact globalizations has had on the world’s environment from pollution, climate changes to global warming. Some see globalization and the increased need for fuels for transport as significant contributing factors to these issues (Benjamin,
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