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Globalization can be seen as a new form of colonization or imperialism, as economic inequality and the rise in unemployment have followed with its implementation. Globalization has been criticized for benefiting those who are already large and in power at the cost of endangering the countries’ indigenous population.
In the post-World War II period, states sacrificed globalization while embracing democracy at home and national autonomy. [7] The trilemma suggests that the backlash against globalization in the last few decades is rooted in a desire to reclaim democracy and national autonomy, even if it undermines economic integration. [7]
The book deals mainly with the effects of globalization. It describes a growing social divide as a result of "delimitation" of the economy and a loss of political control by the state over the economic development, which is increasingly controlled by global corporations. The authors warn of a so-called "20-to-80-society". [3]
Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
Globalization and Its Discontents is a book published in 2002 by the 2001 Nobel laureate Joseph E. Stiglitz. The title is a reference to Freud's Civilization and Its Discontents . The book draws on Stiglitz's personal experience as chairman of the Council of Economic Advisers under Bill Clinton from 1993 and chief economist at the World Bank ...
The graph shows two periods of deglobalization (1930s and 2010s) and the overall trend since 1880. Periods of deglobalization have mainly been seen as interesting comparators to other periods, such as 1850–1914 and 1950–2007, in which globalization had been the norm, given that globalization is the norm for most people and because the interpretation of the global economy has mainly been ...
The definition thus implies that there were pre-modern or traditional forms of globalism and globalization long before the driving force of capitalism sought to colonize every corner of the globe, for example, going back to the Roman Empire in the second century AD, and perhaps to the Greeks of the fifth-century BC. [6]
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]