ANSWERS: 1
  • The term globalization has entrenched itself in the lexicon of today's world. We know globalization keeps expanding, but the exact causes of it are up for debate, as it has been going on for most of history.

    Identification

    Dr. John Williamson, former chief economist for the South Asia Region at the World Bank, believes that the root cause of globalization lies in the progress of technology. Making phone calls internationally, for example, costs only a few cents per minute. One can also cross continents fairly cheaply and easily.

    Considerations

    Dr. Williamson also notes that a fairly stable world since World War II fosters the ability of countries to take advantage of technology, especially in trade. One can send products to other markets quickly, without fear of attack.

    History

    Generally, when people think of globalization they are imagining recent events. Globalization means an increase in the flow of goods and people around the world. This has been increasing for hundreds of years, reports the University of Pennsylvania. Conquests and the need for trade caused much of the early globalization.

    Theories/Speculation

    Dr. Williamson states that globalization theoretically increases world production through efficiency. As economies become more efficient, income levels across the world should eventually rise, inducing more countries to adopt globalization policies.

    Potential

    The causes of recent globalization seem to indicate that globalization will only perpetuate itself. Many of the results of current globalization, such as the Internet, cannot be readily policed by any single state.

    Source:

    Williamson, John; Globalization: The Concept, Causes, and Consequences

    University of Pennsylvania; A Quick Guide to the World History of Globalization

    Emory University; Can globalization be controlled?

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy