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Refers to the free movement of goods, capital, services, people, technology, and information. It is the action or procedure of international integration of countries arising from the convergence of world views, products, ideas, and other aspects of culture.
• Is a package of the transnational flow of people, production, investment, information, ideas, and authority.
• The process of global integration of the economies of nations by allowing the unrestricted flow of goods, services, investments, and currencies
Refers to the free movement of goods, capital, services, people, technology, and information. It is the action or procedure of international integration of countries arising from the convergence of world views, products, ideas, and other aspects of culture.
• Is a package of the transnational flow of people, production, investment, information, ideas, and authority.
• The process of global integration of the economies of nations by allowing the unrestricted flow of goods, services, investments, and currencies
Globalization
Features of Globalization
Features of Globalization
Free Market, Liberal Policies in World Economy, Free or open market, Goods, Internet Revolution, Global Integration, Westernization
Is where voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, without government intervention.
Is where voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, without government intervention.
Free Market
oppose government intervention and protectionism in the market economy when it inhibits free trade and competition but supports government intervention to protect property rights and resolve market failures.
oppose government intervention and protectionism in the market economy when it inhibits free trade and competition but supports government intervention to protect property rights and resolve market failures.
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Is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, unionization, and any other regulations or practices that interfere with free-market
Is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, unionization, and any other regulations or practices that interfere with free-market
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The proliferation of information technologies
• Results:
• Mobile phones and the internet brought people closer
• Work can be outsourced to any part of the world that has an internet connection
The proliferation of information technologies • Results: • Mobile phones and the internet brought people closer • Work can be outsourced to any part of the world that has an internet connection
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• One is able to reach one's destination in a relatively short span of time through:
Air travel (open sky)
• Rail travel (trains/mass transit)
• Sea travel (speedboats)
• One is able to reach one's destination in a relatively short span of time through: Air travel (open sky) • Rail travel (trains/mass transit) • Sea travel (speedboats)
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The idea of realizing one single unified community.
The idea of realizing one single unified community.
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the concentration of the population in villages as opposed to scattered settlements, typically to ensure more efficient control and distribution of services such as healthcare and education.
the concentration of the population in villages as opposed to scattered settlements, typically to ensure more efficient control and distribution of services such as healthcare and education.
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A futuristic version of the world community as a village created by a high-level of electronics communication, conceived by MARSHAL McLuhan
A futuristic version of the world community as a village created by a high-level of electronics communication, conceived by MARSHAL McLuhan
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the dominance of western forms of political, economic, and cultural life, sometimes called McDonaldization.
the dominance of western forms of political, economic, and cultural life, sometimes called McDonaldization.
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What are the General Effects of Globalization
What are the General Effects of Globalization
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Emergence of worldwide production markets and broader access to a range of foreign products for consumers
Emergence of worldwide production markets and broader access to a range of foreign products for consumers
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The emergence of worldwide financial markets and better access to external financing for borrowers.
The emergence of worldwide financial markets and better access to external financing for borrowers.
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Realization of a global common market, based on the freedom of exchange of goods and capital
Realization of a global common market, based on the freedom of exchange of goods and capital
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On a global scale, health becomes a commodity
On a global scale, health becomes a commodity
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Some use "globalization" to mean the creation of a world government that regulates the relationships among governments and guarantees the rights arising from social and economic globalization.
Some use "globalization" to mean the creation of a world government that regulates the relationships among governments and guarantees the rights arising from social and economic globalization.
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Increase in information flows between geographically remote locations
Increase in information flows between geographically remote locations
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Survival in the new global business market calls for improved productivity and increased competition.
Survival in the new global business market calls for improved productivity and increased competition.
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Development of the system of non-governmental organizations as main agents of global public policy, including humanitarian aid and developmental efforts.
Development of the system of non-governmental organizations as main agents of global public policy, including humanitarian aid and developmental efforts.
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Development of a Global Information System, global telecommunications infrastructure, and greater trans-border data flow, using such technologies as the internet, communication satellites, submarine fiber optic cable, and wireless telephones
Development of a Global Information System, global telecommunications infrastructure, and greater trans-border data flow, using such technologies as the internet, communication satellites, submarine fiber optic cable, and wireless telephones
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The creation of the international criminal court and international justice movements. Crime importation and raising awareness of global crime-fighting efforts and cooperation. The emergence of global administrative law.
The creation of the international criminal court and international justice movements. Crime importation and raising awareness of global crime-fighting efforts and cooperation. The emergence of global administrative law.
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The spread and increased interrelations of various religious groups, ideas, and practices and their ideas of the meanings and values of particular spaces.
The spread and increased interrelations of various religious groups, ideas, and practices and their ideas of the meanings and values of particular spaces.
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defined as patterns of human activity and the symbols that give these activities significance. It is what people eat, how they dress, the beliefs they hold, and the activities they practice. Globalization has joined different cultures and made it into something different.
defined as patterns of human activity and the symbols that give these activities significance. It is what people eat, how they dress, the beliefs they hold, and the activities they practice. Globalization has joined different cultures and made it into something different.
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Negative Effects of Globalization
Negative Effects of Globalization
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Opportunities in richer countries drives talent away from poorer countries, leading to brain drains.
Opportunities in richer countries drives talent away from poorer countries, leading to brain drains.
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Globalization has also helped to spread some of the deadliest infectious diseases known to humans.
Globalization has also helped to spread some of the deadliest infectious diseases known to humans.
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Worldwide, the UN estimates there are more than 50 million regular users of heroin, cocaine, and synthetic drugs.
Worldwide, the UN estimates there are more than 50 million regular users of heroin, cocaine, and synthetic drugs.
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Study Notes
Definition of Globalization
- Involves the free movement of goods, capital, services, people, technology, and information across international borders.
- Arises from cultural convergence, integrating worldviews, products, ideas, and cultural elements.
Features of Globalization
- Relies on voluntary exchange and supply-demand dynamics, minimizing government intervention unless for property rights or market failure.
- Characterized by the absence of barriers like tariffs, licensing requirements, and subsidies that hinder free-market operations.
Impact of Information Technologies
- Mobile phones and internet connectivity enhance communication and connectivity among people globally.
- Outsourcing work becomes feasible anywhere with internet access, increasing efficiency and economic interdependence.
- Modern travel options like air, rail, and sea have significantly reduced journey times between destinations.
Social and Cultural Integration
- Envisions a unified global community, a concept highlighted by Marshall McLuhan's "global village."
- Encourages population concentration in villages to optimize service delivery, contrasting with scattered settlements.
Economic Effects of Globalization
- Emergence of worldwide production markets enhances consumer choices with diverse foreign products.
- Improved access to global financial markets leads to better financing opportunities for borrowers.
- Fosters the realization of a global common market promoting the freedom of goods and capital exchange.
Health and Social Dynamics
- Health increasingly viewed as a commodity on a global scale, influencing access and quality of healthcare.
- Some interpret globalization as creating a world government to regulate international relations and protect social and economic rights.
Competition and Productivity
- Global business environment demands increased productivity and competition among nations.
- Rise of non-governmental organizations (NGOs) as key players in global public policy and humanitarian efforts.
Global Information Systems
- Advancement of global telecommunications and data flow through technologies like the internet, satellites, and fiber optics.
Legal and Criminal Justice Developments
- Creation of the International Criminal Court emphasizes global justice and crime-fighting collaboration.
- Global administrative law emerges to govern international relations and address transnational issues.
Cultural Exchange and Lifestyles
- Globalization fosters interconnections among diverse religious and cultural practices, redefining customs and values.
- Describes a blend of various cultural aspects, influencing food, attire, beliefs, and activities across different societies.
Negative Effects of Globalization
- Economic opportunities in developed nations often lead to brain drain, depriving poorer countries of talent.
- Globalization facilitates the spread of infectious diseases, with the UN estimating over 50 million regular users of dangerous drugs like heroin and cocaine.
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Description
Module 1
