Effects of Globalization on the Society Essay Example for Free

Effects of Globalization on the Society Essay Globalization is one of the contemporary policies implemented in attempt to resolve the economic dilemma of various countries and to encourage free flowing economic transactions among nations. And as such, globalization has become an influential phenomenon reaching various global scopes. It is an international process by which nations are being pushed to form a single and unified global society. The different societies within a globalized community undergo various transformation and developments which are comprised of common practices and beliefs known as the cultural universals. The cultural universals are adaptations in meeting the needs of the members of the society in terms of food, clothing and shelter. Developments are achieved through innovations. Innovation is the process of injecting new ideas or objects within a culture. And with these changes and innovations, this process also renders social consequences. There are two types of innovations: discovery and invention. The Chapter 3 of the book â€Å"Sociology a Brief Introduction† explained how development in culture occurs in the global setting. This chapter expounded the various concepts pertaining to the development of cultures such as globalization, diffusion and technology (Schaefer 58-60). The current globalization policy renders effects on the various aspects of the society. Globalization is a broad term. It encompasses the various aspects of the nation including politics, society and economy. More often than not, globalization is associated to the economic activities of the nation but it also affects the various aspects of society. Globalization Globalization is the integration of the economies and societies worldwide. Globalization is considered as one of the most hotly-debated topics in the field of international economics over the past few years (â€Å"Globalization†). It is the process of making the local or regional phenomenon into a global one. The nations are unified into a single society which carry out the function together. It is like integrating the economic, technological, sociocultural and political aspects of the nation (Croucher 10). Whenever globalization is mentioned, it is often associated with economic concepts and activities. Globalization is viewed as an economic process that integrates national economies into one international economy benefiting the activities of the inherent economy (Bhagwati 3). The term has been frequently defined by different economists, and as the such, the concept of globalization has developed so many definitions in accordance to the society’s point of view where the term is being utilized. The term â€Å"globalization† has been around for quite a long time. The concept has not been popular until the late 1980s and 1990s when its theoretical concepts became more well known. But the activities of globalization has already been put to practice even during the early times when the European countries colonized other parts of the world (Yergin). The first wave of globalization occurred during the 19th century which resulted to an incredible increase and growth in the international trade and economic interaction with the European countries dominating the world’s economic activities (Yergin). But the concept of globalization became more pronounced and used after the Second World War. The emergence of this concept came from the idea of the reconstruction of societies after the destructions caused by the war. The establishment of the International Monetary Fund and the World Bank became two of the most influential international organizations that pioneered the reconstruction of war-devastated countries and became relevant agents in restoring economic progress and stability in these nations. Effects of Globalization Globalization is a strategic economic process which aims to provide prosperity and growth to the world’s economy. However, globalization has advantages and disadvantages. Although in the economic point of view, globalization is a positive and beneficial process. But its contribution to the overall increase in the global prosperity is still unparalleled. Globalization creates a process of disseminating modern methods and equipments needed in the contemporary enterprise management, economic growth and global financing. This way, globalization also increases labor productivity and efficiency of the factors of production (Bozyk 3). Moreover, globalization hastens the movement of the essential factors of production, especially the capital and technology. The other factors increasing the production is swiftly moving such as new and innovative ideas, modern technologies and production methods. Consumers, on the other hand, also benefit from the process by purchasing high-quality products due to the increase efficiency in production. In this process, globalization influences the consumption and quality of the products (Bozyk 4). The communication and information industries are also greatly influenced by globalization process. Information disseminated under the tenets of free trade and in the advent of advanced technology tools and gadgets rendered the information industry free movement and easy access to the people. The emergence of internet accessibility and telephone services brought information closer to the people. On the other hand, globalization also renders disadvantages that are inappropriate to some countries engaging in the contemporary economic trend. Some of these disadvantages include the reality that globalization only brings profit to the wealthy and well-developed countries and amplifies the marginal difference of the well-developed and developing countries. The international economic policy is leaning towards the wealthy and powerful countries and is unsuitable to the developing countries (Gavrilenkov et. al 233). Moreover, some countries are utilizing globalization to establish world domination, authority and power which will enable stronger countries to manipulate the relationships of different countries within the international order. Nowadays, the United States is enjoying the status of being one of the strongest nations or probably the sole world superpower. However, the current status of China, its economic stability, and the rate at which the Chinese economy progresses will soon rival United States in terms of industry, wealth and technological improvements (Hurst 91). Works Cited Bhagwati, Jagdish. In Defense of Globalization. Oxford, New York: Oxford University Press, 2004. Bozyk, Pawel. Globalization and the Transformation of Foreign Economic Policy. Hampshire: Ashgate Publishing Limited, 2006. Croucher, Shiela L. Globalization and Belonging: The Politics of Identity a Changing World. Lanham, Maryland: Rowman Littlefield, 2004. Gavrilenkov, Evgeny, Paul J. J. Welfens and Ralf Wiegert. Economic Opening Up and Growth in Russia. New York: Springer Verlag Berlin Heidlberg, 2004. â€Å"Globalization†. 2001. The World Bank Group. 10 October 2008 http://www1. worldbank. org/economicpolicy/globalization/. Hurst, Charles E. Social Inequality: Forms, Causes and Consequences. Boston: Allyn Bacon, 2006. Schaefer, Richard T. Sociology:A Brief Introduction. United Kingdom: Academic Internet Publishers Incorporated, 2006. Yergin, David. â€Å"Commanding Heights†. n. d. 10 October 2008 http://www. pbs. org/wgbh/commandingheights/shared/minitext/tr_show01. html.