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what is globalization and why is it inevitable?

2007-02-20 15:16:41 · 4 answers · asked by Anonymous in Social Science Economics

4 answers

This is not a sociology question.

This is an economics and demographics question.

I suggest hitting up the real man for the answer:

http://www.gmu.edu/departments/economics/wew/

He's the man. Sociologists are like voodoo basket weavers and pyramid-hat salesmen when it comes to this subject. Don't ask a used car salesman about buying a race horse when there's a master available.

2007-02-20 15:32:06 · answer #1 · answered by Boomer Wisdom 7 · 0 0

Globalization: world acting as one economy. It allows borderless trade (both for goods and services) using international trade standards.

It is inevitable because of the demand of the people, though it may not be the best for certain countries. Economies of different countries started out at different levels under different types of governments. However, these economies will gradually become free trade economies, where prices can be lower and encourages competition within the market. It gives consumers the ability to choose products and services and at different prices. All of this would lead to higher standards of living. Who doesnt want that?
A country that blankets itself from the light of globalization will soon found itself cornered because the trade systems of other countries have all changed. If that country does not adapt to the changes, that country cannot trade at all, which loses its comparative advantage. If they continue, the people will revolt, forcing the government to adapt. Globalization is inevitable.

2007-02-21 01:51:59 · answer #2 · answered by Rezy A 1 · 0 0

Globalization is the breakdown of traditional national barriers in favor of a global economy. The benefits of globalization is that it lowers prices and leads to a wider variety of products being available to the consumer. The disadvantage of globalization is that many local businesses are destroyed in the process because they cannot compete with products that are made in countries with a lower wage structure.

It is inevitable because as we connect with each other through mass media, the Internet and a thousand other ways, it becomes much easier to find a place that will make your shoes for $10 versus the $45 that a local cobbler will charge.

The trick is to manage the shift to a global economy such that you minimize the disruption it will cause; very, very difficult to do.

2007-02-20 23:41:43 · answer #3 · answered by Bruce H 3 · 0 0

Globaliszation is change. Change is inevitable.

2007-02-24 18:38:53 · answer #4 · answered by JimTO 2 · 0 0

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