Economy is not a separate thing from production, consumption and exchange. Economics pays no attention to goods and services provided by nature, air, water, soil and sunlight that produce everything we need for survival and all the riches we are able to accumulate. What is the cost of globalization to the environment? Does globalization have the same goals for a healthy planet and justice for people?
Timothy Taylor writes, “Moreover, large multinational companies typically do not perceive it to be in their self-interest to seek out locations where they can pollute most heavily.” He goes on to explain that these companies have a design in place with pollution-control that meets the standards of countries with strict environmental laws. He thinks that globalization is helping to improve standards in low-income countries of environment and labor rather than to hinder them. Also, that globalization makes the world a more peaceful place because of the connections between people that are created.
“The 200 largest companies in the world employ less than 1% of the global workforce, but they control more than ¼ of the world’s wealth,” write Suzuki and Dressel. The larger companies are operating globally without interference and using up the natural resources with cheap labor overseas. Corporations are no longer connected to the local economies but to international laws that have been set up to their advantage. The wealth that once was distributed to the good of public welfare is now being rerouted to the corporations through their focus on policies of government. The current system is allowing corporations to make the rules of global economic activity. According to John Cavanaugh, author of Global Dreams “Not only are these corporations bigger and more powerful than countries that have hundreds of years of independent history, they are also economic entities of a size and power that are unequalled in the history of the world.”
If you would ask the average American what their opinion of globalization entails, they would say that it is good for the companies but unfortunate for the workers because it takes away jobs and gives those jobs to people overseas because of the lower wages. However, Timothy Taylor points to globalization contributing to the “churning of the labor market as people move in and out of jobs.” Thomas Grennes writes, “Opposition to globalization has taken the form of policies designed to protect traditional jobs, but these jobs can be preserved only by giving up economic growth that generates creative destruction.” He defines Creative destruction as, “Innovations that stimulate general economic growth simultaneously destroy specific jobs as emerging technologies replace older technologies.”
Christopher Bright brings up the fact that pathogens, plants, insects, fish and mammals are being inadvertently transported from their native habitats to invade non-native territories. Bioinvasion is a result of international trade....