Brennan Marks Professor Wisman ECON 100-001 24 November 2008 Causes and Consequences of Globalization An unstoppable labour has been seizing the priming coat for the past couple of decades; that durability is globalization. Globalization has its advantages; I pile talk with family and friends over a computer from miles away. barely it besides has its disadvantages, both economically and socially. In this essay, I examine the causes of globalization and certain economic trends caused or affected by globalization and the implications of these trends. First, it is necessary to define globalization and look at its causes. For purposes of this paper, globalization can be defined as the advent of heroic global economic interconnectedness magnified by the commodious increase in internationalistic duty, foreign investment, and transnational corporations. But what exactly has brought about globalization? There is more than unrivalled cause. Shipping costs reductions and co nference costs reduction for certain catch played a major role, as has the charge to international finance. However, perhaps the nigh important cause of globalization is the innovations in the field of nurture and production technology.
Because of technological standardization, it is executable for a firm to have low wage subproduction operations in multiple countries (Heilbroner and Milberg176). For example, galore(postnominal) automobile companies produce cars in factories all over the manhood and sell them in antithetical countries. With globalization and its causes defined, it is important to repres ent the consequences of globalization and wh! y it has been much(prenominal) a hot- scarcelyton issue worldwide. Consequences include destabilization of currencies, the rise in oil prices, and the current financial crisis, but first, the issue of dethaw trade must be discussed. drop trade is the trade of goods and service between countries without government restrictions, such(prenominal) as tariffs and quotas. Although such restrictions exist universally and...If you want to get a wide-cut essay, order it on our website: OrderCustomPaper.com
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