Ethics Of Globalization

9 Pages 2136 Words

Ethics of the Effects of Globalization


Globalization is the process by which a business or company becomes international or starts to operate on an international level. Some economists recognize globalization as being in the best interest of all states. While others believe that increasingly liberated trade and global economic interaction is necessary in many ways. The negative effects of globalization far outweigh and short term gains. It benefits the wealthy, which are but a minority in comparison to the rest of the population, and leaves the impoverished ones out of the loop. The gap between rich and poor is increasing worldwide; almost one-third of the population of developing countries, 1.3 billion live in absolute poverty. Tight budgets, competitive markets, downsized companies are aspects of globalization that are unfolding on a canvas much broader than is generally appreciated. The unsteady flow of invisible money running in and out of countries has our markets operating like roller coasters.
Globalization renders our government powerless and leaves them at the mercy of foreign investors. It does not benefit the majority of the world’s population and is slowly growing to increasingly deadly proportions. While globalization marks a move toward a more open world-trading regime, it can also be linked to strains on sovereignty, worker’s rights, and the environment.
Globalization is a concept with many differing definitions. Many see it as a process, which entails the free movement of capital, goods, services and labor around the world. On the surface, it seems not as doing any harm but more of a way of doing business in the world today. For many major companies, going global is a matter of survival, and it means radically changing the way they work. Corporations are globalizing not only to reduce production costs, but also to expand markets, evade taxes, acquire knowledge and resources, and protect themselves ...