This website uses cookies to ensure you have the best experience. Learn more

Globalization And Its Impact On Wealth Disparity

2835 words - 11 pages

Globalization and Its Impact on Wealth DisparitySummary on IssueThe concept of globalization is no longer new to any people in the world. It has its origin as early as colonial times. It was derived from the concept "international" which is coined by Jeremy Bentham in the 1780s (Scholte, 2008). However, the word "globalization" did not come into existence until 1950s (Scholte, 2008). And by the time it flourished, it was already 1980s (Roberts, 2010). Since then, with the help of the rapid developed information technology, it has become a new international trend in coming decades.However, the process of globalization has not been smooth. Contrarily, the progress of globalization has been quite controversial.Indeed, globalization has brought a lot of positive effect from various perspectives. Taking culture for example, with the help of globalization, people from different culture backgrounds can interact with other non-native culture. Education for instance, globalization has provided more opportunities for the students to learn from and to share academic achievements. With the help of globalization, the human rights and democratic progress have been elevated to another level by international collaboration. The "Jasmine Revolution" in the Islamic countries is the best proof of the positive effect of globalization.However, just as coin has its two sides, the negative effect brought by globalization cannot be neglected as well. Terrorism activities are more rampant due to lessening barrier of safeguard caused by globalization. There wouldn't be anyone would forget the "911" tragedy. And globalization should be held indirectly responsible for the recent terrorism activities took place in Russia. Diseases have gained ability to spread in unimaginable speed and range. In 2009, it took only 2 months for the "swine flu" to develop from an outbreak in Mexico City into global flu pandemic.And last but not least, although globalization has dragged a considerable amount of people out of the pit of poverty, but the financial crisis happened in the United States has almost thrown the whole world into economic recession. The once PIIGS (Portugal, Italy, Ireland, Greece and Spain) has become "PIS" for the reason Ireland's and Greece's economy have collapsed. At the same time, thousands of Americans have become "debt-owner" from homeowner, while the senior managers who work for Goldman Sachs and other financial institutions can get away with the mess they caused and are paid with averaged $10.5 million annually, 344 times the pay of typical American workers.So, has globalization really changed the world into a better place in terms of eliminating wealth disparity? Or it simply made the world economy worse? In next sections, the effect of globalization will be discussed in detail from the perspective of economy.DefinitionDefinition of globalization should not be confined within the perspective of economy since it would lead to a dead end of research (Scholte,...

Find Another Essay On Globalization and Its Impact on Wealth Disparity

Dominican Republic's Policies and its effects on its globalization

1710 words - 7 pages power over its people, and can still pass certain policies with very little trouble. It also shows that the government is very able and willing to establish and keep certain relationships.The Dominican Republic's somewhat recent initiative of self-dependency also has a significant, positive effect on the globalization of the Dominican Republic. A clear example of this initiative is given by Amalia L. Cazebas, author of Economics of Desire, where

Micro-finance and its Impact on Poverty

970 words - 4 pages Despite the growing body of literatures about the microfinance and its impact on poverty, there are counter growing criticisms against microfinance in issues such as reaching the poor, unchanged poverty level, high interest rate, brutality in repayment processes, financial sustainability, and women empowerment. (Hossain, 2010). In terms of poverty reduction and reaching the poor people, the studies edited by (Hulme & Mosley, 1996) on the impact

Neglect and Its Impact on Language

2418 words - 10 pages conducted to further understand what one profession includes, and how professionals would help this pretend case study. The interviewee also assessed Chicago’s strengths and weaknesses in terms of city community resources. Neglect negatively affects language acquisition and will explore examples, causes, consequences, and intervention for lack of language.   Neglect and Its Impact on Language Case Study Sarah* (name changed) is a four-year-old child

Avation and Its Impact on the Environmen

827 words - 4 pages Noise The noise of Aircrafts was historically a major environmental issue for the airline. It is still high on the agenda of public concern. Noise disturbance has a variety of difficult issues to assess because it is open for self- reactions. Its impact is not one permanently on the actual environment, but it can have many effects on the people living in the area of the airport, including: interference in communication, sleep disturbance, and

Diversity and its Impact on Organizations

3007 words - 12 pages organizations, and examines the legally mandated and stakeholder driven reasons for implementing and sustaining diversity.Diversity and its Impact on OrganizationsDiversity is what makes people different, not just culturally but in human differences. Having a multitude of differences in the workforce gives an organization the ability to use many ideas to reach a common goal. A person could say that a diverse group of people together in one room can

Technology and Its Negative Impact on Humans

828 words - 4 pages Technology and Its Negative Impact on Human In today’s life, technologies are rapidly growing day by day. Today’s life is like a race. People, who can adapt new technologies very fast, can go ahead in their lives. Otherwise, they would always be behind in life race. People can’t imagine their life without technologies, and various technologies are helping people to live their life with more luxury. New technologies have several positive aspects

Military Engineering and its Impact on War

994 words - 4 pages own designs, the Japanese had become an economical and military powerhouse within a span of just a few decades. No one had anticipated the effectiveness of the small island nation, but through their industriousness and determinacy, the Japanese were able to catch up to the modern countries as well as surpass them in the coming century. The profession of military engineering has been a huge impact on the use of warfare for ages. Without the engineering advancements made, warfare would still be in its bow and arrow days.

Immigration and Its Impact on America

1440 words - 6 pages Immigration and Its Impact on America America would not be America without immigrants. In addition to America having been founded by immigrants, the nation was literally ‘built’ by immigrants. In 1565, Spanish explorers established Augustine, Florida which is America’s oldest known colony. However, the largest early colony of immigrants were the English colonists who settled in Jamestown,Virgina and Plymouth, Massachusetts. These English

Television Violence and its impact on Children

642 words - 3 pages -blooded murderer, but the total impact of witnessing repeated acts of violence may slowly cause our society to become more and more aggressive until there are too many killings to list on the news and watching one while you walk down the street is a common occurrence. We will never actually be able to tell what the ultimate impact of violence on television is until it actually happens, but will that be too late for us to recover from it? Only time will tell.

Advertising and Its Impact on Children

1548 words - 6 pages Advertising has had a powerful impact on today’s children. From songs, to logos, to characters, advertisers keep in mind their audiences. Competition is the force which causes advertisers to target children. Children are targeted through the catch phrases, animated characters, and toys in these competitive advertisements.      The textbook used in class (Huffman, 2002) describes that “advertising has numerous

Psychiatry and its impact on culture

2161 words - 9 pages the church and inquisition, not into the hands of doctors. As a result many of them were accused of witchcraft and sorcery, and having relations with evil spirits and were burned alive.During the 15th and 17th century new hospitals in Western Europe were established in old jails. Its main goal was to protect citizens from mentally ill. Patients had to sleep on the floor, were chained to the walls and even hit. They did not receive any medical

Similar Essays

Globalization And Its Impact On Cities

1832 words - 7 pages Sarosh Chaudhry06/04/14Prof: Darren BaranySSN: 187.1801Globalization and its Impact on CitiesGlobalization is almost a household word among geographers. Geographers allude to its effects on urban systems and individual cities so often that it seems to be the core of a new research paradigm, the overarching explanation of urban change. Yet such a patent answer should itself be questioned: the idea that this (or any) secular trend actually

Globalization And Its Impact On The Public Sector

1882 words - 8 pages Globalization PAGE \* MERGEFORMAT 9 Organizational Change within the Public Sector in the Age of GlobalizationOrganizational Change within the Public Sector in the Age of GlobalizationIntroductionGlobalization can be seen as a new phase of internationalization of forcing companies and countries reciprocally depend on degrees in the past. Here you can have globalization as the third phase of the internationalization of markets, the first of

Globalization And Its Impact On The Public Sector

1882 words - 8 pages Globalization PAGE \* MERGEFORMAT 9 Organizational Change within the Public Sector in the Age of GlobalizationOrganizational Change within the Public Sector in the Age of GlobalizationIntroductionGlobalization can be seen as a new phase of internationalization of forcing companies and countries reciprocally depend on degrees in the past. Here you can have globalization as the third phase of the internationalization of markets, the first of

Globalization And Technology’s Impact On The World

2284 words - 9 pages aspects of culture. Global technology can affect all areas of life including economical, medical, cultural, and political.need to cite definition Technology in globalization is how new things spread and help to better develop our world and the way we live. Many discussions have taken place in recent years about the use of technology and globalization and its impact on the world has been both criticized and praised. Globalization and technology are