Explain the concept of globalization and its advantages and disadvantages for social, political, and economic development.

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Globilization is the process of forming the entire earth into one integrated economic market that transcends national or geographic boundaries. This leads political globalization, as groups of countries, such as the European Union, create large, cooperative economic blocs, and social globalization, in which similar food, clothing, and entertainment is marketed across the planet.

The upside of globalization is market efficiency: without barriers between nation-states, goods can be produced as cheaply as possible and shipped as quickly as possible around the globe, offering many people access to a wide variety of goods. Interrelatedness also leads to possibility of greater global cooperation and a spirit of "we are all in it together" that, ideally, could foster international peace and prosperity.

However, while the merits of globalization were much touted in the late twentieth century, downsides have become more apparent. For example, the availability of cheap labor in some parts of the world often places downward pressure on wages in countries with a high cost of living, which in turn can lead to political and social instability. Further, transnational corporations with huge economic clout and loyalty to no one country can pressure individual nations into making concessions on environmental standards and safety that help corporate profits but are a detriment to lives of ordinary citizens. Capital can flow from place to place seamlessly, adding to financial efficiency but making it harder for individual countries to collect corporate taxes to help pay for the services, such as transportation infrastructure and an educated workforce, that these countries offer corporations.

In addition, border freedoms have led to a backlash of nationalism and xenophobia, in which local citizens resist assimilating people of other cultures. Finally, when a Starbucks or PF Chang's restaurant can be found everywhere from Seattle to Istanbul to Beijing, many people question whether the corporate homogenization of world culture is having a detrimental effect on the quality and variety of everyday life.

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Globalization is the gradual process by which societies around the world become integrated commercially, culturally, and politically. Globalization as a whole is typically divided into three branches: economic, cultural, and political. On the whole, when people think of globalization, they tend to think of it in an economic sense. This is because, historically, commerce has provided the largest incentive to globalize.

There are advantages and disadvantages to each of these three types of globalization. The social advantages of globalization revolve around a level playing field, both in education and discourse. Information from all over the world is readily available, and the internet has created a platform through which any voice can be heard. In regards to political advantages, globalization helps to achieve common goals and helps cultures to look beyond their perspective for greater goods. Economic advantages are obvious, as pursuing an international market is the reason for pursuing globalization in the first place.

Speaking in terms of disadvantages, all three branches are wounded by the shortcomings of the economic branch of globalization. In terms of social issues, workers are often exploited by outsourcing for cheap labor. Political problems happen when cooperation is given leveraging power over politics in multiple countries.

In short, globalization does much to assist the dissemination of information around the world but allows a troubling amount of power to titans of industry.

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Globalization is a term used to describe increasing social, economic, and political interaction and interrelation across political and cultural boundaries. The process of globalization has advantages and disadvantages for social, political, and economic development.

Social Development

Advantages:

  • The globalization of communication has given almost everyone a voice in worldwide discourse.
  • The increased flow of knowledge and ideas has allowed everyone to learn more about other people and cultures.

Disadvantages:

  • The desire for cheap labor in the global supply chain has led to human rights violations, including violations related to child labor and human trafficking.
  • The Americanization of cultures around the world has created resentment among some social groups.

Political Development

Advantages:

  • Globalization has led to greater interdependence among various countries and regions; this encourages political cooperation toward common goals.
  • Military globalization has promoted cooperation in the fight against terrorism.

Disadvantages:

  • Political globalization has created tension among countries with competing ideologies. More powerful countries often try to force their ideologies on less powerful countries.
  • Globalization has given multinational corporations more lobbying power and has allowed them to influence political decisions in ways that benefit business over people and the environment.

Economic Development

Advantages:

  • Employment opportunities in developing countries have increased through global business expansion.
  • The existence of an international market has encouraged competition and impacted consumer prices in a positive way.

Disadvantages:

  • Globalization has helped to widen the gap between the poor and the wealthy in some countries.
  • Employment opportunities in developed countries have decreased due to outsourcing.
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Globalization is the process of achieving an international marketplace for goods and services. It is an attempt to minimize the effect of national boundaries as a deterrent for trading materials. It is characterized by loosening of legislation that hampers the export of goods. Companies can manufacture and sell goods in a variety of different countries. Large multinational corporations are the biggest players in globalization.

The advantages of globalization are generally felt in more developed countries. The consumer benefits the most in terms of prices and the variety of goods and materials available for purchase. Companies can generally achieve lower operating costs through globalization. This sometimes happens by exploiting labor from underdeveloped countries. An advantage for developing countries is the introduction of new technologies and business models that may help in their efforts at modernization.

Globalization also comes with a downside for both developed and undeveloped societies. For undeveloped countries, the exploitation of labor and resources by multinational corporations can be seen as a deterrent to economic progress. Countries may become overdependent on the goods and services of another country which can lead to international disputes and warfare. This has been a theme of the modern Middle East as the major supplier of petroleum. Another negative of globalization is that economic conditions like recession may impact other countries as all of the nations become interconnected. For developed countries, the loss of manufacturing jobs is a real issue as companies pursue labor sources that are cheaper.

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