The Pros And Cons Of Capitalization

For some people, globalization is so feared it is synonymous with world destruction. In the end, for all we know, maybe this will be proven before it is over. In reality however, there are many good things that have resulted from globalization(1, Premise). Let’s for a moment focus on the economy, even though there are many other advantages that have been brought forward that will also be discussed. Many Americans do not appreciate how efficient our markets are, in this case efficiency in reference to supply and demand is number one. These efficient markets allow economies to grow. As many have learned in a global world, when one economy grows, it spurs growth in all the other economies

That this was also the decade in which globalization came into full swing is more than a minor inconvenience for its advocates” (Rodrick). If globalization is supposed to present an advantage to developing countries, why have there been so many setbacks? Indeed, both sides will have its winners and losers regardless of which side of the development coin they live on, but for the most part globalization has lifted millions out of poverty, improved the standard of living, and increased life expectancy rates all while keeping developed nations relatively competitive to their developing counterparts. Globalization’s value is that it seeks to create an economic equilibrium in the world, where parties are free from barriers and can benefit from one another through a more efficient allocation of resources. This allows all participating nations to contribute to an integrated economy and where all nations willing to embrace globalization have the potential to benefit. Regardless, the path to successful integration to the global economy has not always been easy. There is contention towards globalization as some argue that it is detrimental to developed nations, while many developing countries that were forced to hastily open up their markets and integrate failed. However, if implemented properly, globalization has proven that it can benefit all parties involved and that the potential gains outweigh the losses.

Expansion of education is closely related to idealistic views of democracy. In developing and wealthy nations, education is valued because it helps the individual mind to develop capabilities. In contrast, education has also been seen as a way to promote equality. Having access to public education, in theory, has the potential to reduce poverty and promote equality. If all are entitled to the same public education, not to mention they are required by law, why do school systems seem segregate their students? Researchers have searched for the answer and have theorized that economic background, tracking, and hidden curriculum are a few things that help contribute to the imaginary lines drawn between students in society.

The educational system of the united states is not capitalizing on the full potential of its people. Jonathan Kozol in his article “Still Separate, Still Unequal: America’s Educational Apartheid”, discusses the drastic difference in the quality of education based on a family’s income. Kozol discusses how economic disparities usually coincide with race, but focuses on the economic gap of education. Malcolm Gladwell’s podcast “Carlos doesn’t remember”, gives a story and a personal touch, to the issues low income students face. Kozol writing and Gladwell’s podcast, both show that the quality of a child’s education is pure chance. A lottery of being born into a high or low income family dictates the outcome and capitalization of a child’s future.

According to Osterhammel and Petersson, globalization “summarizes a wide spectrum of experiences shared by many people” (2). I agree with this statement and would go on to claim that globalization is a group of processes and events, some beneficial and some harmful, that have resulted in the spread of networks across the world. However, this spread of networks did not happen over night. This is in part because not all interactions are transformed into networks, as these require a certain degree of longevity. In order for interactions to become networks, groups must consider the range between each other and their interactions must be important or impactful, intense, fast, durable, and frequent. For the reason that each of these characteristics must be present in order for networks to form, globalization has been in the works for many centuries and is still at work today. Therefore, while the historical events and processes of past centuries have provided the roots of globalization, the modernization of recent decades has built upon these roots to connect the world in a way

From what I have learned so far it appears that contemporary society has responded to the legacies of historical globalization, yet it hasn’t done quite enough to satisfy the concerned and affected. I would have to disagree to this statement, there are still some problems I believe needing to be addressed.

Throughout the world, there have been continuous attempts to reform education at all levels. With different causes that are deeply rooted in history, society, and culture, this inequality is difficult to eradicate. Although difficult, education is vital to society’s movement forward. It promotes “citizenship, identity, equality of opportunity and social inclusion, social cohesion as well as economic growth and employment” and for these reasons, equality should be promoted (Shrivastava,67).

In “Investing in Education”, Nicholas Kristof and Sheryl WuDunn illustrate how having the power of education can help overcome poverty, inequality and economic development. It’s begins with the story of a young girl the met when they were newly married, Dai Manju, in China. The family lived in a one room wooden shack, with no running water or electricity, plus they share the space with a large pig. Dai Manju is an excellent student, but she was forced to drop out of sixth grade, because her parents didn’t see any reason for girls to get an education if they going to spend their time “hoeing fields and darning socks” (Kristof and WuDunn, 167). However, Dai Manju life changed drastically when Kristof wrote an article for the New York Times about her story.

During the last decade of the twentieth century, the word ‘globalization’ has become an increasingly prominent feature of political, social, and economic discussion in academic and policymaking circles, as well as in the media. The processes and outcomes of globalization drew attention and debates that had one thing in common. The research shows that nearly everyone agrees that globalization is a trend that is changing the face of the world, and as a result the world society lives in a more ‘globalized’ world. Nearly two and a half decades passed since 1990s, and studies have been conducted to examine the causes and consequences of globalization. Moreover, nearly every person experiences some type of globalization and can testify firsthand the effects it has on their life, society, and the state. The analysis of the effects that globalization dynamics have on the world society indicates that globalization has a significant positive impact via spreading opportunities and wealth across nations, stimulating innovation and productivity, enhancing the economic development of poorer countries, and helping to improve living standards.

Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty. But the opponents general complaint about globalization is that it has made the rich richer while making the non-rich poorer. “It is wonderful for managers, owners and investors, but hell on workers and nature.”

Some view globalization as being inevitable and key to our economic future. It has the potential of making societies richer through trade, and creates knowledge and understanding to people around

The process of globalization has created a borderless world through the free flow of knowledge and materials and mobility of people and making it become a global village (Andleeb, 2014). According to Rouse (n.d.), he mentioned that "globalization is the process in which people, ideas, and goods spread throughout the world, spurring more interaction and integration between the world's cultures, governments, and economics." However, the world virtually looks like the broken mirror, between rich and poor, powerful and powerless, strong and weak. This situation has affected many different parts of the society, such as education, health, finance and economy. And today it has already become the different picture as we have imagined. To address

Education has been told to us as the key to a better, developed and civilized society. With proper education, there can be no limits to an individual’s achievements in life; but on the other hand, lack of access to education is a major building block to a primitive, backward and uncivilized society. A bad education system designed not for learning but only to keep children who can not afford private education in schools is a recipe for oppression as it widens the gap between socioeconomic status, gender and age. It trains people to be a part of a capitalistic and oppressive society by reinforcing classism, racism and sexism (Lipsitz, Lozenski, Ford, 2014).

Movement of people, food, and manufactured goods is a main result and source of the globalization. The astonishing $19 trillion is the total merchandise export value for 2014. 41 percent of this value is from the developing countries (WTO 2015). These numbers are helping us to understand better the magnitude of the globalization. While we enjoy the benefits, certainly the negatives could be quite frightful. A massive scale pandemic could cause aloss in millions of lives, damage the world economy and the civilization itself is a scenario of many movies and TV shows. But stepping back with the globalization will not solve these issues. Part of these issues is not solely related to the globalization. Urbanization, sanitation, drinking water access issues for any country

“Globalization is not just one impact of the new technologies that are reshaping the economies of the third millennium” (Thurow 19-31). When speaking of globalization, most people will not have a complete understanding as of what it actually means or what aspects of the world it affects. Globalization promotes free trade and creates jobs. The capital markets attract investors, resort cheap labor, and leads to job losses in some areas of higher wage. While all of this is happening, the world economy is being effected: economically, culturally, socially, and politically.