Globalization: Effects, Consequences, Pros & Cons

Globalization is a process which has begun its spread and development in the recent decades. While the process has been a long-standing part of the people’s lives, it has only begun to work in earnest in recent years (Tan & Macneill, 2015). With the creation and introduction of new methods of communication and the continued corporate expansion, the world is becoming increasingly interconnected by both transportation and the web (Potrafke, 2014).

Big companies are starting to branch out internationally and cooperate with other actors on their products and services. Society has seen this process slowly develop and take shape throughout the generations, with the most recent advancements being the most severe. The process of globalization is multifaceted and can be considered both beneficial and detrimental to the world at large, its people, and the environment. On one hand, it can be said that globalization allows people to experience the different cultures, traditions, and history more thoroughly. Globalization allows people access to information they would have not been able to learn in decades prior. Both the foreign lifestyle and customs are being effectively transported, all around the world, creating a more welcoming and open community for different kinds of people (Ransom, 2017).

The effects of globalization make it easier to enact both social and technological innovation in society, and more effectively work with others to achieve common goals. However, it can be said that the same process is also harmful to people, as smaller cultures get erased or overridden by bigger ones (Ransom, 2017). The need for constant growth and expansion also facilitates the exploitation of workers and the process of seeking cheap labor in poor countries, which is detrimental to both the well-being of people and the labor force.

In the same vein, the environment also suffers from the effects of globalization as major actors in the world economy seek to maximize their games while not treating the environment as a vital issue. Inefficient means of production are prioritized as their use is seen as more financially viable than their environmentally friendly alternatives. To effectively counteract the results of globalization, local governments need to work on policies that benefit their people and the environment as a priority, taking stricter control of their territories (Ellwood, 2001).

Reference List

Potrafke, N., 2014. The Evidence on Globalisation. The World Economy, 38(3), pp.509–552.

Ransom, D., 2017. Globalization: An Alternative View. New Internationalist. Web.

Ellwood, W. (2001). No nonsense guide to globalisation. London: Verso Books.

Tan, C., & Macneill, P. (2015). Globalisation, economics and professionalism. Medical Teacher, 37(9), 850-855. Web.

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