Globalization

Nathan Manting

Dr. Wang

PHIL 2200

February 17, 2011

Globalization

As an economics major I consider globalization to be the process in which specific countries' economies become integrated. This includes, but not limited to the trading of goods and services. While this is a huge factor of globalization it is not the only factor that is considered. Globalization also deals with the integration of cultures, beliefs, religions, technology, and politics. You cannot consider just one factor, but rather you have to consider all the factors as a whole.

Once again, being an economist I am all for globalization and free trade because it supposedly lowers price and makes countries better off. With more trade countries experience a faster growth in the economy and the average quality of life (measured through income) is better for countries that have free trade and have global economies. Free trade while in theory is great and leads to a lot of economic advantages, it can lead to many ethical conflicts. For example, companies in the United States have incentives to close down manufacturing plants in the US and open them in less developed countries such as India or Vietnam. The wages are lower and sometimes the factories use child labor. Most people believe that child labor and factories that treat their workers poorly are unethical. The question then becomes, “would people rather have cheaper goods and a stronger economy, or would they rather be ethical and morally sound”. The trade-offs for global economies are complex because one side deals with money and growth while the other side deals with ethics.

Besides the economics behind globalization, I think it is great to integrate cultures, religions, and technology. This process allows people to become more educated and more understanding of different beliefs. This is good for our society because learning about different cultures and beliefs allows you to be more knowledgeable and less judgmental which will lead to a...