Globalization

According to the text Globalization is the process by which the international exchange of good, services, capital technology and knowledge becomes increasingly interconnected. There are many benefits from globalization an increase in economic growth as well as generating a wider range of products and services. There have been many complications as well like income inequality, environmental damage, unsafe food, sweatshops, and rise in consumerism. (pg. 211 Bateman, Snell)

It is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market. Depending on the paradigm, globalization can be viewed as either a positive or a negative phenomenon.

In the past few decades, globalization has swept every spot on the globe. Despite the fact that numerous countries have benefited from the “unprecedented global flow of capital, human talent, scientific knowledge and other resources that a country’s modernization require” which are associated with globalization; some developing countries experienced the other face of globalization which is by far less pleasant.

Areas which I think we could improve on are work skills, infrastructure, and fiscal policy. Work skills have expanded from immigration to highly educated workers. An important policy change would be to eliminate all caps on high-skilled workers. We should reverse our educational slowdown. The key would be to increase both high school and college graduation rates, by expanding both early education and financial aid. This would help us to upgrade our labor force. Infrastructure has been deteriorating for some time now. We need to improve quality as well as adopting roles for both private and public sectors. We should maintain a tax code which would support innovation which lies in the heart of competition and productivity, as what we have currently is at risk for not raising enough revenue which has put pressures on social...