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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]
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]
Horizontal inequality can have a negative effect on mental health, due to one's self-image. There can often be negative externalities, depending on the group one is a part of. Identifying with a marginalized group can have negative effects on one's self-perception, due to implicit or explicit discrimination, as well as perceived discrimination ...
In the name of free markets and with the promise of an improved standard of living, local authorities give up some of their political and social powers to international organizations. [10] Thus, globalization causes the greater empowerment of these international organizations and the diminishing influence of local state institutions. [15] [16]
World citizen badge. Global studies – interdisciplinary and multidisciplinary academic study of globalizing forces and trends. Global studies may include the investigation of one or more aspects of globalization, but tend to concentrate on how globalizing trends are redefining the relationships between states, organizations, societies, communities, and individuals, creating new challenges ...
The countries who received the benefits from the globalization shared their profits equally. However, Stiglitz believes that if the national economy regulated by international institutions there could be an adverse effect. It is because the international institutions such as IMF, WTO, and World Bank lack transparency and accountability.
The book includes accessible and rigorous material on the key theories and major topics in globalization, as well as modern developments like the rise of populism and far-right political groups, Brexit, migration and backlash to it, trade negotiations, social media and the spread of misinformation, climate change, social justice issues, and ...
Globalization is commonly defined as the international movement toward economic, trade, technological, and communications integration and concerns itself with interdependence and interconnectedness. As a result of the interconnectedness brought on by globalization, languages are being transferred between communities, cultures, and economies at ...