Globalization A New Phenomenon And The World We Live...

Globalisation is a multifaceted concept including political, economic and social elements. It refers to to the connectedness at continental distances through the flow of people, information, capital and goods (Clark 2000, as cited in Potrafke 2015: 510). It is also linked to universalising markets and production, technological innovation, privatisation of state agencies, trans-national organisations and spread of common culture (Urzua 2000: 421). Wood (2006: 29) stated that globalisation is not a new phenomenon and that the potential effects, both positive and negative, where somewhat predicted by Marx and Engels. They expressed concepts such as rapid change and uncertainty, integrated global supply chains and spread of common cultures across all nations, which is remarkably similar to the world we live today. According to Johnson (2002: 428) five developments have had a major role in making globalisation both possible and effective. This was not the case prior to the 16th century, where there was not much movement of goods or ideas between the continents. These developments were increase in scientific knowledge, faster and cheaper transportation as well as communication (telegraph, telephone, radio, television, internet), growth of income and reduction of barriers to trade. Osland (2003: 137-154) in his literature review examined the advantages and disadvantages of globalisation. He identified both winners and losers of globalisation by examining empirical evidence of itsShow MoreRelatedEssay Creating a Better Future Through Globalization1536 Words   |  7 PagesThe term â€Å"globalization† was known in the common vocabulary in the 1980. It is used to describe the increased movement of people, knowledge, goods, and money across national borders. It has led to increased interconnectedness among the worlds populations, economically, politically, socially and culturally (T. L. Friedman 6-14) . Even though globalization often is thought of in economic terms, this process has many social and political implications as well. The globalization of today’s world throughRead MoreNo Cringe At The Third World Thought Of Arranged Marriages1353 Words   |  6 Pagesat the third world thought of arranged marriage. However, Ji Hyun Lee’s article in The New York Times titled, â€Å"Modern Lessons From Arranged Marriages†, begins to raise questions concerning how lessons from this culturally unique phenomenon may be able to aid in non-arranged marriages in the United States with the help of experts. Michael J. Rosenfeld, associate sociology professor at Stanford University claims, â€Å"I don’t think love marriage and arranged marriage are as different as we make them outRead MoreAnalyze Globalizations Impact on Singapores Development.1746 Words   |  7 Pagesneeds of the people, with the recent Human Development Index (HDI) which measures overall well-being of the people. 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GlobalizationRead MoreGlobalization Has Changed The Economic Condition Of A Country Or The Lives Of People995 Words   |  4 PagesGlobalization is a communication and connection between person-to-person, local-to-local and nation-to-nation to preserve and develop trade, technology, education, and etc. There are a couple aspects of globalization to count on, but this essay will be focusing on one specific dimension of globalization. Mostly, this essay will examine economic aspect of globalization as well as it will conduct a research: how globalization has changed the economic condition of a country or the lives of people. MoreoverRead MoreAnalysis Of The Book Going Ashore By Jumpha Lahiri1613 Words   |  7 Pagesat the third world thought of arranged marriage. However, Ji Hyun Lee’s article in The New York Times titled, â€Å"Modern Lessons From Arranged Marriages†, begins to raise questions concerning how lessons from this cu lturally unique phenomenon may be able to aid in non-arranged marriages in the United States with the help of experts. Michael J. Rosenfeld, associate sociology professor at Stanford University claims, â€Å"I don’t think love marriage and arranged marriage are as different as we make them out