thesis for globalization

Globalization: What Globalization Is and Its Impact Essay

Primary source data, secondary source data, comparative analysis.

Bibliography

Globalization is a complex phenomenon that has a big influence on various fields of human life, including economics, society, and culture. Even though trade between countries has existed since time immemorial, in the 21st-century, globalization has become an integral part of the world’s development. While businesses try to expand on a global scale, and countries’ economies are intertwined in the international network, several outcomes occur out of this process. The purpose of this paper is to analyze and evaluate the impact of globalization on the world economy, whether it is good or bad. To achieve this goal, a comprehensive review of the relevant literature will be conducted. The information will be extracted from both primary and secondary sources. The primary sources will include an interview and a chart, while the secondary sources will consist of scholarly articles and books published from the year 2015 forward. The main argument of this research is that even though globalization offers endless business opportunities, it has a number of effects that negatively influence the resources and the economy.

First of all, in order to understand this phenomenon, it is important to define the term “globalization.” Several researchers have conducted a thorough study of this subject. For example, Martell describes globalization as “the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away” 1 . It is a complex and multidimensional mechanism that allows a local business subdivision to integrate into the global economic system. The biggest companies of the 21st century are no longer limited to one country; they have become more multinational: businesses from several countries exchange resources, money, data, and employees. Nowadays, international relations are becoming more intense not only in politics but in the economy as well. Moreover, globalization has a significant influence on the distribution of not only skilled and unskilled labor but of capital and labor as well, both locally and globally. The tendencies of this process were analyzed by experts, for example, in the research by Chandy and Seidel, where they presented globalization trends in the form of a chart (Figure 1).

The chart above demonstrates how the GDP of the U.S. was changing while the global population was also growing. The diagram includes the analysis of foreign capital stock, merchandise exports, and migrant stock. According to it, it becomes evident that even though the world GDP was high during the 1910s, the global economy is more integrated in the 21st century. However, the researchers also point out that the economy of the U.S. is a relatively closed economy, which is surprising. Nevertheless, the study states that “it accounts for only 11 percent of global trade volumes, which is far below its 24 percent share of global GDP” 2 . In addition, despite the attempts to find evidence of the recession of globalization, Chandy and Seidel did not manage to present any. It means that the trend keeps developing as money, goods, and people continue to move around the world.

It is evident that one cannot talk about globalization without mentioning international companies. Global corporations are defined by the fact that they execute business in at least two countries 3 . They conduct various types of economic activities, for example, foreign investment, managing plants in different countries to avoid transaction costs. An example of an international firm that obtains cost advantages through foreign investments in international plants is Apple Inc.

To understand how companies conduct business internationally, several types of multinational corporations must be indicated: economists usually divide them into four categories. The first type of firm is determined by the fact that it has a strong presence in its home country. Another category is characterized by acquiring cost advantage through the means of buying cheaper resources in other countries, despite being controlled by one central office. The third type is a company that is based on the Research and Development of the parent corporation. The fourth and final category is a transnational business, which includes all features that are peculiar to the corporations that were mentioned above 3 . Since global companies generally combine different approaches to business, sometimes it can be hard to distinguish between these four categories. Nestle S.A. may serve as an example of a big transnational corporation that conducts its financial operations in many countries outside of the headquarters.

Since globalization is a complicated phenomenon, many analysts and businessmen have different views on its impact. For instance, the former Director-General of the World Trade Organization, Pascal Lamy, expressed his point of view in the interview, “Can Europe Civilize Globalization?”. Despite the fact that the concerns about European civilization may recede due to this process, he states that he does not see globalization as a threat. Instead, he sees it as a reality that has to be dealt with in a professional way. Lamy explains his opinion by pointing out the fact that some European countries have managed to gain more benefits than others by means of global trade 4 . As examples, he presents Sweden and Germany, which, during the last decades of the 20th century, conducted structural reforms that allowed them to get profit from international trade.

Moreover, Lamy notes that globalization presents new challenges for businesses. They include promoting “more actively global norms in the environmental and job protection, health protection, than the reduction of trade barriers that have been now largely operated worldwide”4. In other words, the ex-director of WTO believes that this process can have a positive impact on Europe’s economy as it provides opportunities for countries to develop and grow their benefits.

As for other researchers, Burlacu, Gutu, and Matei overview both sides of globalization, pointing out positive and negative impacts. For example, the advantages include reducing the economic isolation of poor countries as they are given the opportunity to sell their goods on the global market and participate in the trade 5 . Moreover, as the economy expands, the information does it as well. It means that access to education becomes more easy and available, which increases the number of professionals who are capable of expanding and developing the business even further. In addition, according to the study, globalization “enhances the speed of commercial, financial, and technological operations”5. It can be seen even nowadays as new products and devices continue to appear on the market every year. Furthermore, globalization ensures the efficiency of the entire economic activity on a global scale.

Other researchers have also pointed out several positive aspects of this process. For example, Parente et al. talk about the sharing economy, which is a new phenomenon. Their study indicated that due to internet globalization, some companies managed to perform business online, which helped them to expand around the world and raise funds 6 . Therefore, globalization allowed firms to achieve worldwide success at an unprecedented pace. Furthermore, Martell et al. elaborated on reasons for how exactly the internalization changed economic activities. The reasons included “the speeding up of global interactions and processes as a result of the development of transport and communications”1. In other words, the spread of resources, ideas, capital, and products accelerated, which allowed businesses to develop quicker.

However, aside from positive results that can come from globalization, researchers also indicate some negative aspects to it. For instance, Burlacu et al. Note that harmful effects include an international security deficit and an increased amount of illegal migrations5. Globalization opened borders for a large number of people to move to other countries illegally. Moreover, it allowed corrupt businessmen to employ these migrants and make them work for a lesser wage, which is a violation of human rights. Moreover, economists believe that nowadays, the export of human resources has risen, which means that some countries have lost intellectual potential5. The other downsides include the deterioration of the environment, which is caused by the rapid growth of the economy.

While rethinking the effects of globalization, Broner and Ventura elaborated on the negative consequences that it can bring to domestic markets. The researchers gathered data from other scholars and concluded that “financial globalization, in addition to providing a new, cheaper source of funding for emerging markets, can have indirect effects by affecting the workings of domestic financial markets” 7 . For example, according to them, with the rise of globalization, the incidence of domestic financial crises also grows. In addition, Mamedov et al. discusses the impact on traditional economies, which, according to the study, will reach a new level of their development 8 . It is difficult to say whether such changes are positive or not since some people may be reluctant to abandon the old economic structures.

As it can be observed, primary sources and secondary sources seem to express various opinions about globalization. First and foremost, most of them seem to agree that this phenomenon is relatively new and only recently began to spread. However, then the standpoints start to differ among experts. While the interview with Lamy demonstrates that the former leader of the World Trade Organization seems optimistic about it, such secondary sources as scholarly articles and books differentiate in positions.

Some researchers identify the internalization of the economy as a beneficial process that can create new opportunities for countries to develop and expand their businesses. However, other studies make a link between globalization and several other problems, such as environmental deterioration, security issues, and the increasing number of domestic crises. The last factor is especially interesting since it contradicts the general assumption that increased international trade opportunities can improve the country’s welfare.

Moreover, the recent events that were caused by the outbreak of coronavirus exposed vulnerabilities in the current globalized economy. Since traveling is restricted, the transportation of resources has become difficult. While big international corporations managed to stay afloat, some local firms were forced to shut down, and the suspension of one company factory can lead to a closing of another. Experts argue that such an intertwined international economic relationship is what caused changes in a global supply chain, and overall, stock declines 9 . The current situation provided proof that globalization may not be that good for the world economy.

While the system offers opportunities for businesses to grow, it also has some loopholes and weak points that seriously damage the economy of not only one country but of the whole world. Moreover, the situation with the pandemic supports the argument made by Broner and Ventura. The outbreak caused domestic market crises in Asian countries, and then in Europe and America, which significantly affected the global economy. Even the help of Widespread Disease Emergency Financing Facility 10 would not be enough to restore all financial damage. As the recession of the international market became apparent, businesses in other countries have also suffered.

In addition, the environmental aspect of globalization is also important since it affects the increasing deficiency of natural resources. While companies are trying to expand their business everywhere, new factories and new plants are built around the world. While new products and new technology continue to appear on the market and the demand grows, more damage is inflicted upon the environment by the constant production.

Moreover, the higher need for transportation means that more fossil fuels are used, causing harm to the climate. There is no doubt that such issues can be resolved with the creation of new technology. However, the process of development is complicated and expensive, which can lead to additional expenditures. It can cause more federal budget deficits and increased government debt; therefore, the economy is also negatively affected by environmental issues of globalization.

For this reason, it can be said that despite all the positive aspects of globalization, it definitely has several downsides. Internationalization brought not only different cultures but the economies of various countries together, allowing businesses to grow and reach financial benefits. Furthermore, it opened opportunities for people to find jobs and expand their profit. Nevertheless, the current system is vulnerable during difficult situations, and if there is a crisis in one country, it tends to spread to others like dominoes, because the economies are deeply connected. Moreover, globalization also causes harm to other fields of human life, which are can also negatively influence not only the financial state of a particular country but the economy of the world as well.

It is evident that more research needs to be conducted as the process of globalization is complex and ongoing. There are several topics that can be further explored while studying the impact of globalization on the world’s economy. For example, one can investigate the methods that can be implemented to minimize the negative consequences of globalization that were described earlier in this paper. In order to obtain the information, one can look through the suggestions of other researchers, analyze them, and select the ones that seem the most effective.

Moreover, as the current situation with the outbreak has a major impact on the international economy, it would be interesting to study the experts’ opinions on how it will affect globalization. A huge amount of relevant information can be gathered from recent interviews, news, and scholarly articles. In conclusion, it would appear that the topic of globalization and its influence is broad and can provide a good starting point for further discussion and analysis.

Chandy, Laurence, and Brina Seidel. “Donald Trump and the future of globalization.” The Brookings Institution , 2016. Web.

Broner, Fernando, and Jaume Ventura. “Rethinking the Effects of Financial Globalization.” The Quarterly Journal of Economics 131, no. 3 (2016): 1497-1542.

Burlacu, Sorin, Corneliu Gutu, and Florin Octavian Matei. “Globalization – Pros and Cons.” Calitatea 19, no. S1 (2018): 122-125.

Lamy, Pascal. “Interview. Can Europe Civilize Globalization?”, The Federalist Debate 28, no. 1 (2015): 60-63.

Mamedov, Oktay, Irina Movchan, Oksana Ishchenko-Padukova, and Monika Grabowska. “Traditional Economy: Innovations, Efficiency and Globalization.” Economics & Sociology 9, no. 2 (2016): 61.

Martell, Luke. The Sociology of Globalization . John Wiley & Sons, 2016.

Parente, Ronaldo C., José-Mauricio G. Geleilate, and Ke Rong. “The Sharing Economy Globalization Phenomenon: A Research Agenda.” Journal of International Management 24, no. 1 (2018): 52-64.

• Sułkowski, Łukasz. “Covid-19 Pandemic; Recession, Virtual Revolution Leading to De-globalization?”, Journal of Intercultural Management 12, no. 1 (2020): 1-11.
• Luke Martell. The Sociology of Globalization (John Wiley & Sons, 2016), 10.
• Laurence Chandy and Brina Seidel. “Donald Trump and the future of globalization.” The Brookings Institution , 2016.
• Lecture on Multinational Corporation (MNC)
• Pascal Lamy. “Interview. Can Europe Civilize Globalization?”, The Federalist Debate 28, no. 1 (2015): 60.
• Burlacu, Sorin, Corneliu Gutu, and Florin Octavian Matei. “Globalization – Pros and Cons.” Calitatea 19, no. S1 (2018): 124.
• Parente, Ronaldo C., José-Mauricio G. Geleilate, and Ke Rong. “The Sharing Economy Globalization Phenomenon: A Research Agenda.” Journal of International Management 24, no. 1 (2018): 53.
• Broner, Fernando, and Jaume Ventura. “Rethinking the Effects of Financial Globalization.” The Quarterly Journal of Economics 131, no. 3 (2016): 1533.
• Mamedov, Oktay, Irina Movchan, Oksana Ishchenko-Padukova, and Monika Grabowska. “Traditional Economy: Innovations, Efficiency, and Globalization.” Economics & Sociology 9, no. 2 (2016): 61.
• Lecture on the World Bank
• Chicago (A-D)
• Chicago (N-B)

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The impact of economic, social, and political globalization and democracy on life expectancy in low-income countries: are sustainable development goals contradictory?

• Published: 18 January 2021
• Volume 23 , pages 13508–13525, ( 2021 )

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• Arif Eser Guzel   ORCID: orcid.org/0000-0001-5072-9527 1 ,
• Unal Arslan 1 &
• Ali Acaravci 1  

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The 17 Sustainable Development Goals announced by the United Nations are important guides for the development processes of developing countries. However, achieving all of these goals is only possible if the goals are consistent with each other. It has been observed in the literature that possible contradictions between these goals are ignored. Therefore, the main purpose of this study is to investigate whether two sustainable development goals (SDGs) of the UN are contradictory or supporting each other in low-income countries. These SDGs are “Good Health and Well-Being” (SDG3) and “Partnerships for the Goals” (SDG17). For this purpose, the role of globalization and democracy in life expectancy is empirically investigated in 16 low-income countries over the period 1970–2017. While globalization has been used as an indicator of the partnership between countries, democracy has been used as an indicator of accountability and cooperation between governments and societies. According to estimations of the continuous-updated fully modified (CUP-FM) and bias-adjusted ordinary least squares (BA-OLS), globalization and its subcomponents such as economic, social, and political globalization affect life expectancy positively. Democracy also increases life expectancy in those countries. The GDP per capita is also used as a control variable. Our results show that a higher level of per capita income is positively associated with higher levels of life expectancy. In conclusion, no contradiction was found between SDG3 and SDG17 in those countries. Achieving a healthier society requires economic, social, and political integration between governments and societies.

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1 Introduction

The main problem of economics is to increase economic development and social welfare. Increasing the social welfare level is a complex process that depends on economic and non-economic factors. Achieving economic development or increasing the level of welfare depends on achieving and sustaining the main objectives in political, economic, and social areas. Today, development is no longer a process that can be realized through policies implemented by governments alone. It requires cooperation between governments and societies. While cooperation between different countries requires globalization in the economic, social, and political fields, democracy is the way to ensure cooperation between governments and societies.

Health is one of the most important indicators of social welfare. Besides being one of the indicators of development, it is one of the determinants of human capital formation which is necessary for economic development. Individuals living in developed countries live a healthier life compared to those living in less developed countries. While the differences between the levels of development of countries determine the health conditions, at the same time, improvement of public health paves the way for economic development. Healthy people have higher opportunities to earn a higher income than unhealthy people. Individuals with higher incomes can benefit from better nutrition and access to health services. Therefore, economic development and improvement of health conditions represent a two-way process. In this context, the determination of the variables that will enable the achievement of the goal of a healthier society is especially important in explaining the economic differences between developing countries and developed countries. Because of its importance, health-related goals have an important place both among the Millennium Development Goals (MDGs) and the Sustainable Development Goals (SDGs) announced by the United Nations.

The world leaders with the support of international funding organizations announced the Millennium Declaration in September 2000 at the United Nations Headquarters in New York. They committed their nations to a new international partnership to achieve some development targets having with the final deadline of 2015. The Millennium Development Goals (MDGs) consist of 8 goals, 21 targets, and 60 related indicators covering a wide spectrum of development areas such as “End Poverty and Hunger (MDG 1),” “Universal Education (MDG 2),” “Gender Equality (MDG 3),” “Child Health (MDG 4),” “Maternal Health (MDG 5),” “Combat HIV/AIDS (MDG 6),” “Environmental Sustainability (MDG 7),” and “Global Partnership (MDG 8).” As we see, three of the goals are directly associated with the health status of the people. In the deadline of 2015, according to “Health in 2015: From MDGs to SDGs” report of the World Health Organization (WHO), there are improvements in health-related targets such as child health, maternal health, and combat with HIV/AIDS. Globally, HIV, tuberculosis, and malaria targets have been met. Also, the child mortality rate was reduced by 53% and maternal mortality by 43% (WHO 2016 ). On a global view, although health-related problems are largely resolved, the situation is not as good for low-income countries. As shown in Fig.  1 , significant differences exist between developing countries and developed countries in achieving health-related goals.

Source Halisçelik and Soytas (2015)

World Bank Income Groups’ MDGs Index Values in 2015.

According to MDGs, indexes in the context of health status show that the goals desired in terms of health are not attained in low-income countries compared to other income groups. After the deadline of MDGs, the United Nations has announced 17 SDGs, and “Good Health and Well-Being” takes its place as the third goal. Since achieving these goals requires the cooperation of countries and societies, “Partnership for the Goals” is determined as the seventeenth SDG. According to the United Nations ( 2019 ), the main indicators of global partnerships are trade, foreign direct investments, remittances, financial integration technology transfers, data monitoring and accountability, internet usage, and political integration among countries. In our study, while globalization is used as a proxy indicator of global cooperation, democracy is an indicator of cooperation between societies and governments. Democracy also refers to accountability levels of governments.

Globalization can simply be defined as the process of international integration which has economic, social, and political dimensions (Dreher 2006 ). Many countries have adapted to this process and have enjoyed the welfare effects of globalization by implementing necessary economic and institutional transformation. However, some countries still suffer from poor adaption to global markets. According to the KOF Globalization Index published by the Swiss Economic Institute ( 2020 ), low-income countries have the lowest globalization level compared to other income groups. They also suffer from bad health conditions such as low life expectancy, communicable diseases, and high mortality rates according to MDG indexes given above. At this point, the literature is divided into two parts. The first one blames globalization and argues that poverty and as a result of this, low life expectancy derives from the inequality created by globalization itself (Buss 2002 ). The second group mostly focuses on the benefits of free trade, capital mobility, and technology transfers (Rao and Vadlamannati 2011 ). The low-income countries also suffer from low institutional quality in the context of democracy and political rights. According to Freedom House’s list of electoral democracies, the countries without electoral democracy are mostly the low-income countries in the Middle East, North Africa, Sub-Saharan Africa, and Southeast Asia (Freedom House 2019 ).

The main question of our study is to determine whether the problem of low life expectancy in low-income countries is due to the low levels of globalization and weak political institutions in these countries. To answer this question, the role of economic, social, and political globalization and democracy in life expectancy in those countries is empirically investigated. This study provides several contributions to previous literature. First, we provide a new perspective in the context of sustainable development goals. Previous studies mostly focused on how to achieve SDGs, while possible conflicts between the goals were mostly ignored especially in the context of health. Such conflicts between sustainable development goals in the literature have mostly focused on the impact of economic growth and globalization on the sustainable environment (Ulucak and Bilgili 2018 ; Zafar et al. 2019a ). Those studies are mostly addressed the relationship between SDG7, SDG8, SDG13, and SDG17 (Zafar et al. 2019b ). To the best of our knowledge, it is the first study that investigates the relationship between SDG3 and SDG17. It is also important to examine this relationship in low-income countries since they still suffer from low levels of life expectancy, less adaptation to globalization, and poor democratic institutions compared to other income groups. Previous works mostly provide global evidence, while only a few studies focus on less developed countries. Achieving these 17 goals put forward by the United Nations at the same time is possible only if these goals do not conflict with each other. Second, empirical works in previous literature consist of traditional estimation methods called first-generation tests. In the analysis of panel data, the estimators considering cross-sectional dependence are called the second-generation estimators. Cross-sectional dependency simply refers to the situation when the shock that occurs in one country affects other countries as well. The source of this problem encountered in panel data analysis is the economic, financial, and political integration among countries (Menyah et al. 2014 ). The ignorance of cross-sectional dependence results in biased and inconsistent estimates and wrong inferences (De Hoyos and Sarafidis 2006 ; Chudik and Pesaran 2013 ). Low-income countries are mostly African countries where there is a rising trend in terms of integration to global markets and institutions (Beck et al. 2011 ). Using estimation techniques that consider cross-sectional dependence in those countries prevents misleading results. As the literature is divided into two parts about the effects of globalization on human well-being, fresh evidence via robust estimation methods is required in order to provide proper policy implications. To fill this gap, our work provides second-generation estimations.

2 Literature review

To improve the health conditions of a country, the welfare of the poor should be improved as well. Poverty is detrimental to access to health services. Therefore, the positive impact of globalization on health first emerged with its positive effects on economic growth (Labonté et al. 2009 : 10). The effects of globalization on growth were mostly driven by free trade, international specialization, technology transfers, knowledge spillovers, and competitive markets. It also offers broader opportunities for entrepreneurs and paves the way for innovation (Grossman and Helpman 2015 : 101). As expected, poverty rates significantly reduced in the last two decades because of the integration of developing economies to global markets (Harrison 2006 ). When trade liberalization and income increases are considered together, people's access to treatments and medications can be easier and life expectancy may be prolonged. However, we should consider other possibilities in the context of spreading communicable diseases. As Deaton ( 2004 ) mentioned before, access to cheap and easy travel can increase the rate of spread of communicable diseases. Migration is also another fact to take into account. Particularly rising sexual tourism and migrant sex workers increase the spread of sexually transmitted diseases such as HIV/AIDS. But today there are improved treatment methods to solve these problems. Even HIV-infected people can survive with antiretroviral therapy, and it also reduces sexual transmission of the infection (Dollar 2001 ; Cohen et al. 2011 ). Due to the high cost of advanced drugs as in the case of antiretroviral therapy, it should be accepted that people in low-income countries will have trouble accessing the drugs (Buss 2002 ). There are approaches known as the unequal exchange that globalization increases inequality among countries and that developed countries are more profitable from the globalization process (Love, 1980 ). It may also increase domestic income inequality. There are a few studies that came with the conclusion that globalization rises inequality (Dreher and Gaston 2008 ; Ha 2012 ), but Bergh and Nilsson ( 2010 ) suggested a different perspective. Due to extensive R&D investments and scientific activities, developed countries can find new treatment methods and supply advanced drugs. The only way to access that knowledge and these drugs are trade and integration between developed and underdeveloped countries. Globalization can play an important role in improving the health conditions of low-income countries to the extent that it can provide these linkages. One should also notice that wider markets and higher returns are important factors that motivate entrepreneurs. Buss ( 2002 ) claimed that the intellectual property rights of advanced drugs belong to private firms in developed countries, and because of the strong protection of property rights, less developed countries have trouble accessing them. However, rising global human rights became an important step to advance public health issues against economic concerns in the trade of pharmaceutical products.

The human rights approach focuses on how globalization affected disadvantaged people worldwide (Chapman 2009 ). It is an important instrument in the suppression of the inequality created by economic globalization. Because of the pressure on the government about human rights, disadvantaged people are becoming able to meet their basic human needs. The role of political globalization on this point is forcing governments to adopt global institutions. It increases the number of international organizations in which a country is a member. This makes governments more accountable in the global area and forcing them to pay attention to protect human rights. Gelleny and McCoy ( 2001 ) also claimed that integration among countries leads to political stability. Therefore, governments' tendency to violate human rights in order to maintain their power becomes lesser. Moreover, as social dimensions of globalization expand and communication opportunities among people in different countries increase, the possibility of human rights violations being discovered by other people increases (Dreher et al. 2012 ). Governments that know the international sanctions required by these violations have to be more cautious against human rights violations. Social globalization also provides cultural integration among the world’s people, and it changes lifestyles and consumption patterns worldwide. The consequences of this change can have positive and negative effects. First, increased urban population and sedentary lifestyles may enhance prepared food consumption and reduce daily movements which result in rising obesity and diabetes (Hu 2011 ). Second, although rapidly increasing consumption options and diversity are known as welfare indicators, they also can cause stress which is known as an important determinant of many diseases both psychological and physical (Cutler et al. 2006 ). Third, due to knowledge spillovers and communication technology, people can learn about healthy nutrition and protection from communicable diseases. Thus, unhealthy but traditional consumption patterns and lifestyles may change. These days we experience the coronavirus epidemic and we see once again the importance of globalization. Countries are aware of infectious diseases in different parts of the world in a very short time and can take measures to stop the spread of the virus. The changes created by social and political globalization play a major role in this emergence. Social globalization enables people in very remote areas of the world to communicate with each other, while political globalization forces governments to be transparent about infectious diseases.

With economic globalization, increased economic activity may lead to urbanization. One may think about unhealthy conditions of an urban area such as environmental degradation, air and water pollution, higher crime rates, and stress which reduce life expectancy. However, according to Kabir ( 2008 ), people living in an urban area can benefit from improved medical care, easy access to pharmacy, and to the hospitals that use higher technology. They can also get a better education and can enjoy better socioeconomic conditions.

Democracy can be considered as another determinant of life expectancy. In order to solve the health problems of the poor, people should draw the attention of the government. Sen ( 1999 ) claimed that the instrumental role of democracy in solving problems is enabling people to express and support their claims. Thus, the attention of politicians can be attracted to the problems of the poor. Politicians who have never tasted poverty do not have the urge to take action against the problems of the poor at the right time. Another linkage can be established through accountability (Besley and Kudamatsu 2006 ). In democracies, governments have an obligation to account to citizens for what purposes the resources were used. Thus, resources can be allocated to solve important public issues such as quality of life, communicable diseases, and mortality.

Compared to theoretical discussions, previous literature provides a lack of empirical evidence. Barlow and Vissandjee ( 1999 ) examined the determinants of life expectancy with cross-sectional data available in 1990 for 77 developed and developing countries. According to regression results, per capita income, literacy rate, and lower fertility are important determinants of life expectancy while living in a tropical area decreasing it. Another finding in this study shows that health expenditures in those countries failed to increase life expectancy. Following this study, Or ( 2000 ) analyzed the determinants of health outcomes in 21 industrialized OECD countries covering the period 1970–1992. This study presents gender-specific estimates separately for men and women. Fixed effects estimation results reveal a significant negative relationship between public health expenditure and women's premature death. The relationship also occurs for men, while GDP per capita dropped from the regression model due to high collinearity. Furthermore, GDP per capita and the proportion of white-collar workers reduce premature death for both men and women, while alcohol consumption increases it.

Franco et al. ( 2004 ) analyzed the impact of democracy on health utilizing political rights data of 170 countries. Empirical results show that people living in democracies enjoy better health conditions such as longer life expectancy, better maternal health, and lower child mortality. Following this, Besley and Kudamatsu ( 2006 ) investigated the nexus between democracy and health outcomes utilizing panel data from the 1960s to the 2000s. In their study, they used life expectancy at birth and child mortality variables for 146 countries as indicators of health outcomes. According to results, democracy has a positive and significant effect on life expectancy at birth and it also reduces child mortality. Safaei ( 2006 ) also investigated the impact of democracy on life expectancy and adult and child mortality rates with the data of 32 autocratic, 13 incoherent, and 72 democratic countries. According to the OLS estimation results, improving democratic institutions increases life expectancy and reduces child and adult mortality rates. Another finding of the study is that socioeconomic factors such as income, education, and access to health care services are important determinants of health status.

Owen and Wu ( 2007 ) found a positive relationship between trade openness and health outcomes using a panel of 219 countries. Health outcome measures of this study are infant mortality and life expectancy. Trade openness is one of the most important dimensions of globalization.

Kabir ( 2008 ) analyzed the determinants of life expectancy in 91 developing countries. Empirical results obtained are the opposite of the expected. According to results, per capita income, literacy rate, per capita health expenditure, and urbanization have no significant impact on life expectancy. On the other hand, the number of physicians has a positive and significant impact on life expectancy, while malnutrition reduces it. As a dummy variable, living in Sub-Saharan Africa is another factor that reduces life expectancy due to communicable diseases like HIV, malaria, etc.

Bergh and Nilsson ( 2010 ) used a panel of 92 countries in the period 1970–2005 to investigate the relationship between globalization and life expectancy. They used social, political, and economic globalization data separately, and the results show a significant positive effect of economic globalization on life expectancy at birth. But no significant relationship was found between social globalization, political globalization, and life expectancy. They also used average years of education, urban population, the number of physicians, and nutrition as control variables and the effect of economic globalization was still positive and significant.

Welander et al. ( 2015 ) examined the effects of globalization and democracy on child health in their panel data analysis for 70 developing countries covering the period 1970–2009. According to the results, globalization significantly reduces child mortality. In addition, democracy improves child health and it also increases the beneficial effects of globalization on child health. Following this study, Tausch ( 2015 ) analyzed the role of globalization in life expectancy in 99 countries. The results of OLS estimates show that globalization leads to inequality, and therefore, it reduces health performance in terms of life expectancy and infant mortality. These results are contradictory to positive views on the role of globalization in public health. However, in 19 of 99 countries, globalization increases public health performance. Ali and Audi ( 2016 ) also analyzed the role of globalization in life expectancy in Pakistan. According to ARDL estimation results, life expectancy is positively associated with higher levels of globalization. Another study on the Pakistan case proposed by Alam et al. ( 2016 ) concluded that foreign direct investment and trade openness which are important indicators of economic globalization affects life expectancy positively.

Patterson and Veenstra ( 2016 ) concluded that electoral democracies provide better health conditions compared to other countries. Their analysis includes annual data from 168 countries covering the period 1960–2010. Empirical results show democracy has a significant positive impact on life expectancy and it reduces infant mortality.

In their recent study, Shahbaz et al. ( 2019 ) investigated the impact of globalization, financial development, and economic growth on life expectancy. The authors used nonlinear time series analysis methods utilizing the data of 16 Sub-Saharan African countries over the period 1970–2012. Their results show that globalization, financial development, and economic growth affect life expectancy positively in 14 of 16 Sub-Saharan African countries.

The previous literature provides a lack of evidence in the context of globalization, democracy, and life expectancy relationship. There are also methodological weaknesses in previous empirical studies. First, it can be observed that previous studies are mostly based on traditional estimation methods. Second, the panel data analyses are based on the first-generation estimators that assume cross-sectional independence. This assumption is hard to satisfy due to integration among countries. In addition, ignoring the cross-sectional dependence results in inconsistent estimations. Particularly in empirical work in the context of globalization which refers to economic, political, and cultural integration among countries, considering the cross-sectional dependence becomes more important. Therefore, in order to make a methodological contribution to previous literature, we used second-generation panel time series methods considering cross-sectional dependence.

3 Methodology and data

According to the United Nations, achieving sustainable development goals requires global cooperation and partnership. Therefore, “partnerships for goals” has taken its place as the 17th sustainable development target. However, it was emphasized that some sub-goals should be realized in order to reach this goal. These include improving international resource mobility, helping developing countries to attain debt sustainability, promoting the transfer of information and technology between developed and developing countries, an open and rule-based free trade system, encouraging public–private and civil society partnerships, increasing transparency and accountability, and high quality and reliable data (United Nations 2019 ). In our empirical work, economic, social, and political globalization and democracy variables were used as proxies of the subcomponents of SDG17. In addition, the life expectancy at birth variable that mostly used in related literature as a proxy of health status and well-being, it is used in our study as a proxy of SDG3. In this study, we investigated the role of globalization and democracy in life expectancy in 16 low-income countries. Footnote 1 Following Barlow and Vissandjee ( 1999 ) and ( 2000 ), GDP per capita is used as a control variable in order to mitigate omitted variable bias. Our dataset is covering the period 1970–2017. Following the related literature, we present our model as follows:

where lex is life expectancy at birth which refers to the average number of years a newborn is expected to live. Life expectancy at birth data is provided by World Bank ( 2019 ) World Development Indicators. Life expectancy at birth indicates the number of years a newborn infant would live if prevailing patterns of mortality at the time of its birth were to stay the same throughout its life. The dataset is consisting of a weighted average of collected data from several co-founders. In Eq.  1 , X refers to the KOF Globalization Index developed by Dreher ( 2006 ). This index has been used in previous literature as a proxy of SDG17 (Saint Akadiri et al. 2020 ). The current version of the data published by the Swiss Economic Institute is revised by Gygli et al. ( 2019 ). The globalization variables are between 0–100, and 100 refers to the highest globalization level. In our analysis, we used subcomponents of globalization index such as economic (EC), social (SOS), and political (POL) globalization in addition to overall globalization (GLB). Due to high collinearity, the effects of different types of globalization are analyzed separately. Models 1, 2, 3, and 4 represent the estimations with overall, economic, social, and political globalization indexes, respectively. The democracy variable ( dem ) is provided from the Polity IV project dataset (Marshall and Jaggers 2002 ). While the increases in this indicator represent a more democratic regime, the decreases represent a more autocratic regime. Finally, gdp is real GDP per capita (constant 2010 $) and it is provided from World Bank World Development Indicators. All variables transformed to the logarithmic form except democracy due to negative values. In the estimation of the model, the panel data analysis methods are used.

3.1 Cross-sectional dependence

Traditional panel data methods are based on the assumption that no cross-sectional dependence exists among cross section units. However, this assumption is hard to satisfy due to rising economic, social, and political integration between countries. The estimations do not take this process into account may cause inconsistent results. Such results may also lead to incorrect inferences (Chudik and Pesaran, 2013 ). The existence of cross-sectional dependence in variables and the error term is obtained from the model analyzed with Pesaran ( 2004 ) \({\text{CD}}_{{{\text{LM}}}}\) and Pesaran et al. ( 2008 ) bias-adjusted LM test. These techniques are robust whether N > T and T > N. Therefore, \({CD}_{LM}\) and bias-adjusted LM ( \({LM}_{adj})\) tests are found to be appropriate and their test statistics can be calculated as follows:

Equation  2 shows the calculation of Pesaran ( 2004 ) \({CD}_{LM},\) and Eq.  3 is Pesaran et al. ( 2008 ) bias-adjusted LM test statistic. \({V}_{Tij}\) , \({\mu }_{Tij}\) , and \({\widehat{\rho }}_{ij},\) respectively, represent variance, mean, and the correlation between cross section units. The null and alternative hypothesis for both test statistics; \({H}_{0}\) : No cross-sectional dependence exist; \({H}_{1}\) : Cross-sectional dependence exist.

In the selection of stationarity tests and long-run estimators, the existence of cross-sectional dependence will be decisive. If the null of no cross-sectional dependence is rejected, second-generation methods that assume cross-sectional dependence should be used in order to provide unbiased and consistent estimation results.

3.2 Slope homogeneity

Pesaran and Yamagata ( 2008 ) proposed a method to examine slope heterogeneity in panel data analysis based on the Swamy ( 1970 )’s random coefficient model.

The calculation of the test statistic of Swamy’s model is given in Eq.  4 .

In Eq.  4 , \({\stackrel{\sim }{\beta }}_{i}\) and \({\overbrace{\beta }}_{WFE},\) respectively, indicate the parameters obtained from pooled OLS and weighted fixed effects estimation, while \({M}_{T}\) is the identity matrix. The test statistic obtained from Swamy’s model is improved by Pesaran et al. ( 2008 ) as follows:

where \(\stackrel{\sim }{S}\) is the Swamy test statistic and k is a number of explanatory variables. \({\stackrel{\sim }{\Delta }}_{adj}\) is a bias-adjusted version of \(\stackrel{\sim }{\Delta }\) . \({\stackrel{\sim }{Z}}_{it}\) =k and \(Var\left({\stackrel{\sim }{Z}}_{it}\right)=2k(T-k-1)/T+1\) . The null and alternative hypothesis for both test statistics is given below.

The rejection of the null hypothesis shows that slope coefficients of Eq. 1 are heterogeneous. In the selection of panel data estimation methods, the results of those preliminary analysis are taken into account.

3.3 Unit root test

Pesaran ( 2006 ) suggested a factor modeling approach to solve the cross-sectional dependency problem. This approach is simply based on adding cross-sectional averages to the models as proxies of unobserved common factors. The Cross-sectionally Augmented Dickey–Fuller (CADF) unit root test developed by Pesaran ( 2007 ) is based on that factor modelling approach. This method is an augmented form of Augmented Dickey–Fuller (ADF) regression with lagged cross-sectional average and its first difference to deal with cross-sectional dependence (Baltagi, 2008 : 249). This method considers the cross-sectional dependence and can be used, while N > T and T > N. The CADF regression is:

\({\stackrel{-}{y}}_{t}\) is the average of all N observations. To prevent serial correlation, the regression must be augmented with lagged first differences of both \({y}_{it}\) and \({\stackrel{-}{y}}_{t}\) as follows:

After the calculation of CADF statistics for each cross section ( \({CADF}_{i}\) ), Pesaran ( 2007 ) calculates the CIPS statistic as average of CADF statistics.

If the calculated CIPS statistic exceeds the critical value, it means that the unit root hypothesis is rejected. After the preliminary analysis of unit root, the existence of a long-run relationship between the variables in our model will be investigated via Westerlund and Edgerton ( 2007 ) cointegration test. After this, the long-run coefficients will be estimated using the continuous-updated fully modified (CUP-FM) estimator developed by Bai and Kao ( 2006 ) and Bias-adjusted OLS estimator developed by Westerlund ( 2007 ).

3.4 Cointegration test and long-run relationship

In this study, the cointegration relationship was investigated by Westerlund and Edgerton ( 2007 ) LM bootstrap test. This method considers cross-sectional dependence and provides robust results in small samples (Westerlund and Edgerton, 2007 ). This method is based on the following equation

where \({n}_{ij}\) is an independent and identically distributed process with zero mean and var( \({n}_{ij})\) = \({{\sigma }_{i}}^{2}\) . Westerlund and Edgerton ( 2007 ) suggested following LM test in order to test the null of cointegration

where \({S}_{it}\) is partial sum process of the fully modified estimate of \({z}_{it}\) and \({\widehat{w}}_{i}^{-2}\) is the estimated long-run variance of \({u}_{it}\) conditional on \(\Delta {x}_{it}^{^{\prime}}\) . If the calculated LM statistic is below the critical value, the null of cointegration will be accepted. The critical values will be provided using the bootstrap method in order to prevent cross-sectional dependence.

In the estimation of long-run coefficients, the CUP-FM estimator was used and this method is based on the following regression

where \({\widehat{\lambda }}_{i}^{^{\prime}}\) refers to the estimated factor loadings and \(\hat{y}_{{i,t}}^{ + } = y_{{i,t}} - \left( {\lambda _{i} ^{\prime } \hat{\Omega }_{{F \in i}} + \hat{\Omega }_{{\mu \in i}} } \right)\hat{\Omega }_{{ \in i}}^{{ - 1}} {{\Delta }}x_{{i,t}}\) indicates the transformation of the dependent variable for endogeneity correction. According to Bai and Kao ( 2006 ), CUP-FM estimator is robust under cross-sectional dependence. However, the assumption that the number of common factors (k) is known cannot be satisfied in practice (Westerlund, 2007 ). Therefore, Westerlund ( 2007 ) suggested a bias-adjusted estimator (BA-OLS) following the methodology of Bai and Kao ( 2006 ) except in the context of determining the number of common factors. The author suggested the estimation of k using an information criterion as

where \(IC\left(k\right)\) is the information criterion. In this study, we determined the number of common factors via the Bayesian information criterion (BIC) as follows.

In the equation above, V(k) is the estimated variance of \({\widehat{u}}_{it}\) based on k factors. By minimizing the BIC, we obtain \(\widehat{k}\) . Westerlund ( 2007 ) showed that the estimation of k provides better results compared to CUP-FM estimator assuming k is known. Both of the estimators require cointegrated variables in the long run.

3.5 Empirical results and discussion

The results of Pesaran ( 2004 ) \({CD}_{LM}\) and Pesaran et al. ( 2008 ) bias-adjusted LM tests are given in Table 1 .

The results given in Table 1 show that the null of no cross-sectional dependence is rejected at 1% according to both \({CD}_{LM}\) and \({LM}_{adj}\) test statistics in all variables. In addition, in the error terms obtained from models 1, 2, 3, and 4 the null of no cross-sectional dependence is rejected at 1%. These results show that the methods to be used in the analysis of the stationarity of the variables and the determination of the long-run relationship should consider the cross-sectional dependence.

The results of homogeneity tests developed by Pesaran and Yamagata ( 2008 ) are given in Table 2 . According to the results, the null of homogeneity is accepted at %1 in all models. Therefore, estimators assume parameter homogeneity are used in our analysis.

After the preliminary analysis of cross-sectional dependence, the CADF unit root test developed by Pesaran ( 2007 ) is found to be appropriate for our model because of its robustness under cross-sectional dependence. The results of the CADF unit root test are given in Table 3 .

In the analysis of unit root, constant and trend terms are both considered at level, while only constant term is added at first difference. Maximum lag level is determined as 3, while optimum lag level is determined by F joint test from general to particular. According to results, the null of unit root is accepted for all variables, while calculated CIPS statistics of first-differenced variables exceed 1% critical value. All variables have a unit root, and their first differences are stationary ( \({I}_{1})\) . Therefore, in order to determine the existence of a long-run relationship, we applied Westerlund and Edgerton ( 2007 ) panel cointegration test. This method considers cross-sectional dependence and can be used, while the series are integrated in the same order. The results are shown in Table 4 .

Constant and trend are both considered in the analysis of cointegration, and critical values are obtained from 5000 bootstrap replications. The results show that the null of cointegration is accepted for all models. There is a long-run relationship between life expectancy, globalization, democracy, and GDP per capita. After determining the cointegration relationship, we estimated long-run coefficients utilizing CUP-FM and BA-OLS estimators proposed by Bai and Kao ( 2006 ) and Westerlund ( 2007 ), respectively.

The long-run estimation results given in Table 5 show that overall, economic, social, and political globalization are positively associated with life expectancy at 1% significance level according to both CUP-FM and BA-OLS estimators. The results show that a 1% increase in globalization index increases life expectancy %0.014 and %0.015 according to CUP-FM and BA-OLS estimators, respectively. The impact of economic, social and political globalization indexes is 0.013%, 0.011%, and 0.015% according to CUP-FM estimation results while 0.014%, 0.012%, and 0.017% according to both estimators, respectively.

Our results confirms the findings of Owen and Wu ( 2007 ), Ali and Audi ( 2016 ), and Shahbaz et al. ( 2019 ) who found a positive relationship between globalization and life expectancy. Our empirical work also supports the evidence of Bergh and Nilsson ( 2010 ) in terms of positive effect of economic globalization on life expectancy. While the authors found no significant impact of social and political globalization on life expectancy, our results show that life expectancy is positively associated with both social and political globalization. The results we found contradict Tausch ( 2015 )’s evidences in 80 of 99 countries. However, according to his results, in 19 of 99 countries, globalization affects health positively. When these countries are examined, it is seen that 14 of them are countries in the low and lower-middle income groups. In this sense, it can be said that the evidence we found for low-income countries is in line with the author's evidence. As Dreher ( 2006 ) mentioned, despite its possible inequality effects, the net effect of globalization on development is mostly positive and our empirical work supports that idea. The effect of democracy on life expectancy is also positive and significant at 1% which confirms the findings of Franco et al. ( 2004 ) and Besley and Kudamatsu ( 2006 ). In electoral democracies, people living in poverty and suffering from health problems can easily attract the attention of policymakers compared to autocracies. This leads to the reallocation of resources to solve the primary problems of the society. In the context of sustainable development goals, our results show that there is no conflict between SDG3 (good health and well-being) and SDG17 (partnerships for the goals). The improvement of the health conditions of the poor countries depends on global partnership and economic, social, and political integration among countries. In addition, democracy is an important tool in achieving the goal of a healthy society, as it fosters accountability, transparency, and partnership between governments and the societies they rule. As stated in the introduction section, low-income countries show low performance in terms of health-related sustainable development goals, and their connections with global markets are weak compared to other countries. At the same time, democratic institutions are not developed. Our work supports the idea that in order to achieve SDG3, global partnership and democracy are required.

The GDP per capita that used as a control variable has a positive impact on life expectancy at a 1% level. These results support the evidence of Barlow and Vissandjee ( 1999 ), Or ( 2000 ), and Shahbaz et al. ( 2019 ). Individuals living in countries with high per capita income are expected to have higher welfare and have a longer life expectancy (Judge, 1995 ). In low-income countries where people still suffer from having difficulty in meeting basic human needs, increasing per capita income may lead to better nutritional status, easier access to advanced treatment methods and technology.

4 Conclusion

In this study, the effects of globalization and democracy on life expectancy are empirically investigated in low-income countries. While globalization and democracy indexes are used as proxy indicators of “Partnerships for the Goals (SDG 17),” life expectancy used a proxy of “Good Health and Well-Being (SDG 3).” With this, it is aimed to examine the existence of contradiction between those SDGs. In the estimation of the long-run relationship between the variables, second-generation panel data analysis methods that consider cross-sectional dependency are used. According to the results, the globalization index and its subcomponents such as economic, social, and political globalization are important instruments to achieve a healthier society. In addition, higher levels of democracy lead to higher levels of life expectancy. Finally, GDP per capita growth improves health status of countries.

The findings obtained from our study show that economic, social, and political integration of countries and democracy accelerate the process of achieving a healthier society. Therefore, it is seen that SDG3 and SDG17 targets are compatible with each other. In order to achieve SDG3, economic, social, and political integration between countries should be encouraged and democratic institutions should be improved. Policy makers should remove the barriers on globalization, and they should promote participation on international organizations and public–private and civil society partnerships.

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Guzel, A.E., Arslan, U. & Acaravci, A. The impact of economic, social, and political globalization and democracy on life expectancy in low-income countries: are sustainable development goals contradictory?. Environ Dev Sustain 23 , 13508–13525 (2021). https://doi.org/10.1007/s10668-021-01225-2

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Globalization is defined as, "the process of social, political, economical, cultural, and technological integration among companies around the world" (Plavcan, 2018). The purpose of this paper is to discuss the aspects of globalization that allowed Coca-Cola to become a multi-billion dollar company. The economical and technological aspects of globalization will be discussed in relation to Coca-Cola's success as these have had the largest impact on the company's growth. Economical Aspect The economical aspect of globalization concerns how local and international […]

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Globalization in Modern World

After the end of World War II, much of Europe was in ruins. With millions of people dead due to war and starvation and most European economies decimated, the United States decided to jumpstart the process of rebuilding Europe by providing financial aid to the countries of Western Europe. Within a few years, America departed from its isolationist foreign policy and became deeply involved in foreign affairs. Through economic assistance, many European countries were able to recover. The European economy […]

Is Globalization Good or Bad Reevaluation

Looking back to the beginning of the semester, the class was tasked to answer if globalization is a good or bad thing. As I was just starting class, I could only answer with personal experiences. Whether if it was from a history lesson from high school, or from playing video games when I was a child. My discussion was not carried through both discussions two and three, even when I took the position of a market globalist with multiple blind […]

Tampax Pearl Tampons and Demographics

Tampons have grown in popularity worldwide as a discrete and convenient way to manage one's period despite the taboo found both in Western and non-Western cultures surrounding having open conversations about managing periods. The production of tampons involves various intervening parties beyond the manufacturers such as shipping companies and the U.S. Food and Drug Administration. The production sites, people and entities involved in the tampon's production, financial and cultural obstacles surrounding tampons, and relation to globalization from both a cultural […]

Globalization Analysis

Question 1: Is the world flat? What does that mean? Ensure that you describe various individual state, and system-level impacts form both perspectives and conclude with your summary. Globalization does help the world become more connected and reachable to other parts of the world. That is what it means with the statement of "is the world flat?". No, the earth is not literally flat. There are parts of the world that have not been totally inhabited by globalization. Many nations […]

Positive Aspects of Globalization

Due to Globalization, the world economy changed for the better due to, the poverty issue to its triumph in Australia. The new Mexican immigrants feeding their family and getting a job in the U.S. To the internet which could help 7% of the world population out of poverty. When it comes to globalization it is a positive effect on people and the economy, its positive because of its benefits of the worldwide people and political policies. The first reason that […]

Global Capitalism

This class has highlighted Globalization and resistance throughout the world. Capitalism has played a major role in the daily lives we live. The free market's adage of "stay out of my way and I'll stay out of your way" has long been how it is viewed by the world. It has driven society apart ever since it took its place in the global system. Exploitation from large corporations has widened the gap between the rich and the poor. Capitalism does […]

Impact of Globalization

Introduction Globalization is the intricate procedure of countries around the world becoming more entwined through international trade. For better and worse, this entwining then further affects other aspects of the local societies, indelibly changing their cultural and political landscapes (Doh & Luthans, 2018). These changes are naturally controversial, with the supporters of globalization believing that it brings financial gain to countries across the globe. Its opponents counter that it just helps the developed countries get richer, while leaving the less […]

Economics of Globalization

Tata Motors Limited located in India and in different countries all over the world. where economic growth has started for decades. Still, there are some challenges that can affect the growth rate in all respect. Like GDP; growth; business cycle; inflation; unemployment; political stability; trade balance. Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2016-17 is likely to attain a level of 121.65 lakh crore INR, with a growth rate of 7.1 percent over […]

Soccer is a Highly Contested Cut-throat Game

Many people hold a notion that soccer is a highly contested, cut-throat game. However, soccer has a great role in hosting competitions and being a mediator betweens nations at an international level (Kunczik, 2016). Football touches lives both on a regional and global scale. At times it inspires revolutions, but it also has the capability to create an everlasting peace and lift the participating nations. However, a blend of politics and soccer has significant and far-reaching implications on the international […]

Globalization and Automation

Introduction Globalization and Automation are referred to as two megatrends which are influencing the workers' job in industrialized countries. Both types of workers such as blue collar and white collar workers are influenced by it, however, the impact on white collar workers is higher as millions of laborers are being migrated from one country to other for getting jobs. The migration of workers has assisted the countries to eliminate the poverty in developing countries. The globalization and automation also assisted […]

The Relationship between the Growth of Globalization and Radical Islamist Terrorism

Research Question: How has the growth of globalism changed the way that Islamist terrorist groups have operated? Introduction Society, since its beginnings, has been undergoing globalization, which relates to the creation of new technologies, new and more effective methods of transportation, as well as many other developments that have moved society forward to a more connected and rapid future in terms of forms of communication such as social media and the development of technology. For these purposes, the spread and […]

Globalization in Business

As the world continues advancing and approving, the people are urged along with it. This includes businesses and organizations. Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale. ("Globalization", 2018). Basically, this means that business and organizations became more accessible and available than they were before. What impacted globalization is the fact that most of the world used to be self-sufficient and because of this, resources and trade were […]

Human Rights in the Era of Globalization

Human rights embody ore values. Among them, there is the dignity of all human beings their equality of fundamental worth and their need to live in this community, with respect and empathy for others, but also with some measure of industrial liberty. Mostly west world countries don't have any monopoly on these values, but people feel that they are always influenced by western countries. In a greater or lesser degree, they embraced the world's major religious and philosophical tradition from […]

Can Islamic and Global Terrorism Ever be Defeated

Terrorism is a word which is often talked about in the modern day due to events which have happened in the recent past. In this essay I will discuss about the factors which explain the rise to Global Terrorism and Islamic Terrorism. The main question which is posed to people everyday is that, can terrorism ever be defeated? Over the last 30 years, we have seen devastating acts of terrorism occur all around the world. 9/11 being a good example […]

Mass Globalization

It is no secret that technology is the 21st century has resulted in mass globalization for many western countries offering education, ideology and socialization. Considering its affordability, in 2010 Janet McIntosh wrote the article Mobile phones and Mipoho's prophecy where she conducted ethnographic fieldwork in the town of Malindi, Kenya where she analyzes the sociolinguistics in the society when cell phones were introduced. McIntosh's research has contributed to anthropology and economic development by exhibiting how cell phones globalized Kenyan culture […]

An Important Role of Globalization

Recently, globalization has played an important role in the national market economies of various countries. It not only enhances economic integration but also motivates trade liberalization. However, many debates still exist regarding the "side effects" of globalization on the development of countries. Therefore, globalization is a controversial issue that consistently receives significant attention from governments around the world. Firstly, according to Chernotsky & Hobbs (2018), globalization is defined as a political, economic, and cultural exchange among nations that enhances trade […]

The Globalization of Baseball

Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale. The influences of globalization can be felt in every city around the world. Technology has enabled individuals as well as organizations the ability to immerse themselves into another culture virtually at the speed of light. Understanding of different societies and cultures has become one of the leading processes of a business. Primarily there has been a greater focus on understanding […]

Pink Globalization: Hello Kitty

Hello Kitty's trek across the Pacific is an ethnography that shows how an anthropologist mainly focused on the growth of Hello Kitty throughout time. Throughout the book, we are able to see how Yano does her research based on Sanrio a Japanese company that has design merchandise that emphasis on the kawaii segment of Japanese popular culture. The anthropologist studies the creation of Hello Kitty and how it has developed through many parts of the world she explains how it […]

Contemporary Global Issues

Globalization has had an effect on just about every state in the world. The effects vary from social, political, and economic, all aspects of everyday life. By definition, globalization is "the process of increasing interconnectedness among societies such that events in one part of the world more and more have effects on peoples and societies far away" (Lamy, 2015). Many people have argued that this causes more harm than good, as it can create worldwide consequences from the mistakes or […]

Globalization’s Results in the Global North and South

Globalization has created a real pathway for businesses to penetrate and exploit the potential of the Global South. It has also encouraged the emergence of a new working class with shared characteristics. The social class champions for better working conditions using unique and different ways from the structured processes that dominate the home countries of most global enterprises. For instance, the rise of wildcat strikes in the emerging economies defies the spirit of collective bargaining that defines employer-employee relationship in […]

Globalization’s Effects on Salta’s Viticulture Industry

Today's world economy is constantly shifting, changing, and adapting. With the increased interconnectedness of markets and communication, effectively every current industry looks remarkably distinct from what they looked like a hundred years ago. The distribution of these changes, however, are not uniform, and agricultural industries in particular see this imbalance. Globalization and technological advances may diminish agriculture's intrinsic variability, but this inconsistency can never be completely erased. This is most exemplified in the grape growing industry. Grapes are a sensitive […]

Globalization of Cricket

Sports in society has become an essential part of everyday life. We eat, breathe, and live on sports. Wherever we go in the world, we are surrounded with sports culture. In the United States, we love our American Football. College or professional, you will see that society here treats Football as like a religion, and Sunday as the day of the Sabbath. We buy merchandise, start fantasy teams, hold game day parties, attend the actual game, and much more. It's […]

A Study on Influence of Globalization

Abstract The roles and obligations of Human Resources departments are changing as the modern business confronts challenges of globalization. The global supply of talent falls short of its long-term demand, and the disparity between demand and supply is a challenge for employers everywhere. The shortage between the demand and supply of talent is likely to continue to increase, notably for highly-skilled workers and the next generation of business managers. Currently, organizations need to place greater emphasis on attracting human capital […]

Global Terrorism and New Media

“The post – Al Qaeda generation” Philip Seib and Dana M. Janbek in their book Global Terrorism and New Media have relied on years of research to provide this insightful insight into how terrorist groups have comprised and exploited the new media, and its “success has been enabled in part by clever use of new media, principally the numerous tools provided by the Internet” (p. viii). “Philip Seib is Professor of Journalism and Public Diplomacy, Professor of International Relations, and […]

Globalization in Context: Diminishing Religious Differences

The idea of globalization doesn't just apply to the modern day spread of economic and political benefits to individual countries, but it also applies to the diffusion of culture or even the combination of cultures. It is known that globalization isn't static, as it promotes change, but also creates more awareness in areas. An example of a cultural attempt to assimilate is the Cherokee who began merge into western society, however all attempts of pluralism or resisting the influence of […]

What Really is Globalization?

What really is globalization? The Merriam-Webster dictionary defines globalization as the act or process of globalizing: the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets. However, there is also another view on globalization as the growth of the sizes of social systems and the increase in the complexity of intersocietal links. Thus, in certain respects, globalization may be regarded as a process connecting the […]

Economic and Cultural Transformation as a Result of Globalization in the Philippines

Globalization is associated with not only advancements in communication and ever-expanding trade routes but also transformation in political systems and the enhancement or destruction of cultural heritage (Block, 2004; Lieber & Weisberg, 2002). Indeed, it is apparent that globalization in developing countries has a significant impact on political, economic, and cultural aspects. Globalization arises from several factors which may include colonialism (Korobeynikova, 2016). The expansion in power and territory that is characteristic of colonialism may promote communication and technological advancements, […]

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Essay About Globalization Globalization can be defined as the process of integration among individuals, corporates, and governments in the world (Pieterse, 2019). The term is also used to describe the spread of goods, technology, culture, and information across country boundaries. Globalization has served to reshape the economic landscape of the United States with the introduction of new technologies, the exchange of business ideologies, and corporate culture. Through globalization, local companies are also expanding their operations, opening outlets, and acquisition strategies in foreign countries. Globalization has also significantly changed the internal environment of many businesses with organization managements forced to develop strategies that would accommodate the changes associated with it. One of the ways through which globalization has changed the internal environment of organizations is through organizational diversity (Borjas, 2015). With the increase in immigration as facilitated by globalization, the organization that I worked for was characterized by staff members from different ethnicities and cultural backgrounds. The human resource in the organization responded to office diversity through several team-building strategies to enhance cohesion and coordination among the staff members. The organization's Human Resource Management also responded through the inclusion of minority groups in various leadership positions as a strategy to motivate employees and also accommodate them in the overall goal of the organization. A code of ethics was also developed that served to promote employee integration and tolerance while harsh penalties for any employees that propelled any form of racial or cultural segregation. Also, as a strategy to accommodate the minority groups, the organization regularly celebrated the various cultures while employees were also given a holiday off to celebrate their respective holidays. The organization was also able to use diversity to enhance decision-making and utilize more creative approaches in problem-solving. Cultural diversity also played a significant role in the marketing operations of the organization whereby the organization was able to reach out to foreign cultures within the country with the help of employees from the organization who are more conversant with the behavior of the market from their cultures. Employees were also able to attend to clients from their cultures and this also helped in service delivery and customer retention.

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266 Globalization Essay Topics & Globalization Research Topics

Welcome to our list of globalization topics and essay ideas! Here, you will find plenty of current topics about globalization trends, benefits, and challenges. But that’s not all of it! In addition to topic ideas, you will also find examples of research papers and globalization essays. Check them out below!

🔝 Top 7 Globalization Topics for Research

🏆 best essay topics on globalization, ❓ globalization research questions, 👍 good globalization research topics & essay examples, 🌶️ hot globalization ideas to write about, 🎓 most interesting globalization research titles, 💡 simple globalization essay ideas, ✍️ globalization essay topics for college.

• Apple Inc. Affected by Globalization and Technology
• The Effects of Globalization to Employment and International Trade
• Evaluating Cultural Dimensions of Globalization
• Globalization’ Positive and Negative Effects
• Impacts of Globalization on the Developing Countries
• Globalization and Its Impact on Society
• Globalization Impact on Sustainable Agriculture
• Communication Technology and Globalization Growth in communication networks brought out by information technology witnessed a stream of expansion of products and ideas breaking geographic boundaries.
• Is Globalization a Threat or an Opportunity to Developing Countries? The topic on the effects of globalization has generated a lot of debate in trying to analyze its contribution to either the success or failure of some aspects of economies.
• Contemporary Globalization and Its Impact As Shakespeare predicted a long time ago, the world is shrinking into a small global scene where everyone has a role to play.
• Apple Inc.’s Globalization Strategy and International Trade This paper will discuss Apple’s globalization strategy, global actions advocated for by this company, and how it facilitates international trade.
• Globalization Impacts on Trade and Employment Globalization refers to the integration of the world markets. It facilitates smooth movement of goods and people from one country to another.
• Globalization Advantages and Negative Cultural Impact This paper focuses on globalization. Drivers of the globalization agenda are multinationals corporations, international financial markets, and transnational agencies.
• Globalization in Media: Pros and Cons Globalization in the media sphere is influenced by changes in political and cultural spheres bringing new economic opportunities and financial capitals to media giants.
• Globalization and Corporate Social Responsibility The topic chosen for this research is globalization and corporate social responsibility because it is a unique and novel concept for transnational businesses.
• The Effects of Globalization on Sports For many people in the world, globalization is the revolution of the future. Conversely, this is not true as globalization exists in the present day.
• Globalization in Anthropological Perspective The anthropological perspective is a powerful model that guides scholars to analyze human diversity and empower individuals from different backgrounds.
• Ford Motor Company’s Globalization Strategy This paper assesses Bangladesh and Rwanda as the two potential countries for Ford to globalize its operations. They are among the best fast-growing economies.
• How Globalization Affects Governance? The process of globalization inevitably affects governance all over the world. In this paper, the peculiarities of the process of affecting governance by globalization will be addressed in detail.
• The Impact of Technology on Globalization The paper states that advances in technology have contributed to the main forces behind globalization. Organizations are compelled to become global.
• The Advantages of Globalization Globalization is the process of growth and interconnection of world economies and cultures, which are aided by transport and trade.
• Effects of Globalization: The Case of LuLu Group Int To summarize this paper, globalization is an unstoppable interstate integration process, leading to the erasure of national boundaries and the formation of a single cultural layer
• Globalization and Diversity in TEDx Talk Shows This paper examines TEDx talk shows that discuss diversity and globalization issues and how globalization can reduce poverty levels in developing economies.
• The Impact of Globalization on World Politics Globalization as the process that creates preconditions for the eventual emergence of World Government, which will exercise an authority over planet’s natural and human resources.
• Impact of Globalization on Norms and Experiences around Gender Inequality is one of the most prolonged global debates that have refused to go away despite the great strides made through globalization
• Bauman’s Concept of Globalization in Understanding the Rise in Human Displacement This paper discusses the concept of globalization as viewed by Bauman, assesses the concept of increasing numbers of refugees, asylum seekers, and economic migrants in the world.
• Impact of Globalization on Netflix Company Netflix made two significant strategic moves that led to its success. The company did not explore all the available markets at once but in phases.
• Dell Business Model: Globalization & Corporate Strategy The Dell Computer company research and development department is mandated with the task of advising the company on the nature of products it should manufacture.
• Pros and Cons of Globalization The advantages of globalization outweigh the disadvantages. The concept has enhanced the rapid developments of impoverished nations.
• Globalization Affecting the Role of Leaders in Organizations Globalization is influencing leadership because of the way it affects society through its processes. It has caused changes in the political, social, and economical aspects.
• Social Media Impact on Globalization Among the many drivers of globalization, the advancement of digital social media platforms has been one of the most influential.
• Coca-Cola Company’s Strategy & Globalization Issues Multinational corporations are increasing day by day and they are usually criticized because of issues like environmental stability, sustainability etc.
• Ways of Eating Around the World: Impact of Globalization Globalization is essentially to blame for the rapid rise in obesity and foodborne illness resulting from improved access to a diverse range of healthy foods.
• Ethics and Globalization in Business A business will only manage to keep up its reputation if it recognizes the established business ethics in its environment. Every firm must follow to the letter the code of conduct.
• Peru – Globalization, Environment, Crime and Disease The paper synthesizes a number of legitimate sources to focus on globalization and its effects on Peru with special relation to environmental issues, crime, and diseases.
• Importance of Globalization on International Business Globalization is very important in that it promotes worldwide growth as well as promotes peaceful coexistence globally through understanding.
• Americanization Is Not a Synonym for Globalization Globalization is the process of international integration, whereas Americanization means the influence of American culture on other countries’ cultural development.
• Globalization and Cultural Hybridization Globalization affects all spheres of human activity starting from education, policy, management, and ending with art, culture, etc.
• Globalization: More Positive Effects Than Negative Ones Globalization refers to the “increasing interconnectedness of people and places through the converging process of economic, political and cultural change.”
• The Impact of Globalization on Immigration Control Globalization is one of the key factors that influence immigration. The effects are extensive to the extent of complicating the efforts of controlling immigration.
• Why Youth and Community Workers Should Understand Globalization?
• What Has Been the Effect of Globalization on Terrorism?
• Who Are the Main Losers in the Process of Globalization?
• Why Is Customer Service Needed in the Globalization of Logistics?
• Why Resisting Globalization Can Be Reasonable?
• Why Are the Critics So Convinced That Globalization Is Bad for the Poor?
• What Would Our Nation Do Without Globalization and International Trade?
• What Are the Costs and Benefits of Globalization?
• Why Globalization Manufacturing Since the 1980s Has Changed Labor Relations?
• Why Did General Motors fail to Compete With Globalization?
• What Are the Challenges of International Development in the Age of Globalization?
• What Impact Does Globalization Have On E-commerce?
• Does Globalization Benefit Both Developed and Developing Countries?
• What the Public Should Know About Globalization and the World Trade Organization?
• What Are the Positive and Negative Effects of Globalization?
• Why Did Germany’s Hidden Champions Succeed in Globalization?
• Who Benefits From Globalization of Labor?
• Does Economic Globalization Affect Interstate Military?
• What Does the Globalization of Drug Trade Benefit?
• Why Does Globalization Generate Winners and Losers?
• Globalization and Its Ethical Implications The paper states that the negative implications of globalization result in ethical dilemmas as people with diverse backgrounds participate in world development.
• Regional Integration Inconsistency with Globalization With the term of Globalization being in vogue and regional integration agreements being signed across the globe, the coalition of the concepts has been questioned.
• Impact of Globalization on Australia Globalization has enhanced the quality of life in Australia due to the fact that foreign investors are allowed to open up ventures in the country.
• Globalization of Video Games and Its Influence in the Society The research paper describes the positive impact of gaming, such as reducing flashbacks from posttraumatic stress defects and chronic pain reduction.
• Coca – Cola: Business Strategy and Globalization The presence of the globalization phenomenon in the Company’s strategy can be proven by its effective presence in more then two hundred countries around the world.
• Globalization’s Role for Developing Countries: Zambia In this paper, the results of globalization and its positive and negative consequences are discussed through the case of Zambia and the condition of its economy.
• “The Globalization of Eating Disorders” by Susan Bordo This paper analyzes the text of an article written in 2002 by Susan Bordo, an American professor, and philosopher, whose works are marked by several prestigious awards.
• Globalization Influence on Product Development This essay presents a critical analysis of the marketing strategies as they apply to the international marketing efforts of firms in the context of globalization.
• Globalization and Health A planned urban society has access to safe and clean drinking water with appropriate sanitation and waste removal mechanisms.
• Globalization as a Phenomenon and Its Impacts Globalization is a phenomenon, which has been made possible due to the development of communication technologies and multifaceted relationships among countries.
• Total Quality Management: Impact of Globalization on Quality There are several ways to ensure that information technology (IT) has been implemented into a business process with respects to Total Quality Management (TQM).
• Globalization and Human Resource Policies and Practices The current paper aims to discuss the concept of globalizing HR policies and the potential positive and negative outcomes of this process.
• The Impact of Racism on Globalization Racism is a great impediment to globalization, the bad blood between the said people of color and those of no color has dealt a big blow to development.
• Impact of New Technologies and Globalization on Literature The issue of globalization’s effect on the development of different countries has always been rather controversial.
• Globalization and Democratization Relationship This paper explores the existing relationship between democracy and globalization. It focuses on democratization, globalization and their imperativeness.
• Economic Globalization and Daily Life The stated factors belong to the concept of economic globalization, which implies the process through which states and corporations expand to the global scale.
• Globalization of the SK-II Brand SK-II Brand has been said to concentrate on its core business through innovation, expanding penetration in developing countries and restructuring its existing business.
• Relationship Between Urbanization, Globalization, and People The relationship between urbanization, globalization, and people is one of the most interesting and provocative topics in many discussions.
• International Marketing – Impact of Globalization This paper seeks to identify the impact of globalization in international business and how companies can fully utilize the concept in order to attain their objectives
• “The Globalization of Markets” by Theodore Levitt In his article “The Globalization of Markets,” Theodore Levitt anticipated the effects of globalization and advancement in technology to international business.
• Globalization’s Impact on International Marketing Strategies International marketing strategies are influenced by globalization. The operations of multinational firms are shaped by the confrontation between standardization and adaptation.
• Globalization in Modern Business Along with the development of technology, communication, and transportation, it becomes easier for companies to expand the scope of their operations and enter new markets.
• Globalization: Managing Across Cultures Managing across culture is a product of globalization, that expatriate from a foreign culture moves to a totally new culture and is required to manage people from diverse cultures and backgrounds.
• Globalization and the Social Interest of Workers The paper sets out to demonstrate that globalization is not in the social interest of low-wage workers in developing nations and factory workers in the developed countries.
• The Impact of Globalization Discussing globalization objectively in its entirety is a challenging endeavor, since it touches upon almost every aspect of the modern world, and its influences differ from one region to the other.
• Outsourcing and Globalization as Driving Force The major driving forces behind outsourcing include the force of globalization, cost of production, labor issues, and the problem of unionization.
• The Globalization of Walmart Back in the 1990s, Walmart planned to conquer nations with large populations and growing purchasing power: Mexico, Argentina, and Brazil, and China.
• Globalization’s Role in Improving Women’s Rights On the one hand, globalization unites people and makes them follow the same standards or use similar opportunities.
• Globalization Effect on Small and Medium Size Business This section will introduce the paper based on the concept that globalization and development of SMEs may not be separated from each other.
• Globalization Theories in the Business Environment The paper elaborates on the neo-classical, Marxist and structuralist perspectives on globalization before closing with the most concurrent theorem out of the three perspectives.
• Netflix’s Globalization in Brazil The modern world has become more connected due to globalization and multinational dependence on areas that support socioeconomic development.
• Globalization in a Global Economy World economies and societies have come together to work as a global economy by having common means of transportation, communication, and marketing.
• Issues in the International Politics: Globalization Globalization in the international political system is considered to be centralized due to its impact on external links and close connection with political structures and mechanisms
• Globalization and National Security Issues International security researchers have taken side of the big debate, with some arguing that globalization has indeed contributed to national and international security.
• Globalization and Cultural Diversity in the Workplace Cultural diversity should be incorporated into the company’s policies combined with teaching workers this fundamental issue in the business environment.
• History of Globalization and World Integration The process of globalization is often viewed as an exclusively modern phenomenon that has arisen due to the development of multinational corporations.
• Globalization and Education – Economic, Political and Cultural Dimensions The surge in Information technology usage, increasing interest in the Internet, and global communication have melted the country’s borders in terms of education availability.
• Motivation and Globalization in Multinational Companies Motivation in the case of globalization becomes a burning issue of multinational companies as they should establish the most appropriate way to motivate their employees.
• Leadership in the Context of Globalization This paper aims to outline the issue of leadership in the context of globalization, conduct a GAP analysis, offer recommendations for developing necessary leadership competencies.
• Globalization Essence by M. Steger and N. Bisley Globalization: A very short introduction by Manfred Steger and Rethinking globalization by Nick Bisley define the necessity to treat the globalization and consider its complexity.
• Globalization’s Impact on Education Globalization will likely diversify educational opportunities while diminishing the competitive advantages of weaker educational systems.
• The Fourth Industrial Revolution and Globalization The fourth industrial revolution has made it possible for countries and manufacturing companies to produce and stabilize their economies.
• Reflection of “Globalization of Missions” Article The “Globalization of Missions: An Exegesis on the Great Commission” article is the author’s call for making proselytizing more aware of non-Western cultures.
• Economic Globalization and Labour Rights The comprehensive study investigates the impact of economic globalization on labour rights in developing countries.
• Globalization Negative Effects on Canadian Labour Union Globalization is directly and indirectly affected labor unions in Canada. Positive effect was in form of developing the country’s economy and creating job opportunities to Canadian citizens.
• Leadership and Globalization in the US and Japan Leadership is a social influence in which a person can motivate or influence others and acquire their support in order to work together and accomplish a certain task.
• Evaluation of the Meaning and Impact of Globalization in Relation to Criminal Justice The globalization process has a significant impact on criminal justice. Globalization has led to increased interdependence among various economies.
• The Impact of Globalization on Labor Market and Trade Globalization is the process that refers to the coming together of the international markets. This report examines the impacts of globalization on trade and employment.
• Air Transport and Its Benefits for Globalization With excellent transportation systems, the world is exposed to better trading in terms of exports and imports of goods and services.
• Globalization Impact on Trade and Employment One of the notable effects of globalization is heightened trade liberalization and opening up of global labor markets.
• Globalization and Technology Impacts on Ethics The evaluation will center on analyzing how technology and globalization have contributed to the spread of poverty in third-world nations, violated individuals’ rights to privacy.
• Globalization: Impact on Modern Society Globalization contributes to establishing relationships between individuals, independent social objects, and phenomena, embracing all spheres of people’s lives.
• Globalization, Its Defenders and Critics Globalization is an ambiguous process with its advantages and disadvantages. It is impossible without significant changes in the ordinary life of people.
• Globalization and Health Systems in India This research paper examines the effects of globalization on India’s healthcare system. It explores various areas such as healthcare delivery, acquisition, financing, and ethics.
• Human Resources Management and How It Is Affected by Globalization and Technology? HRM functions have been widely affected by the changing trends around the world: various parts of the world are integrating, newer technologies and better concepts are evolving.
• Qualitative Threshold: Globalization and Communication Technologies Globalization is a long-term phenomenon involving a gradual change of events. This process has occurred in distinct phases with each having unique characteristics.
• Modern Imperialism and Economic Globalization This paper discusses how does the study of modern imperialism help us to understand why some former colonies fear economic globalization today.
• China’s Aviation Industry: Impact of Globalization This paper investigates the impact of globalization on China’s aviation industry. The report covers a wide range of topics, including history, global treaties, and critical forces.
• The Social Media Impact on Globalization This paper explains the impact of media on globalization and how it has affected businesses. Many people are currently using social media to run business organizations.
• John Deere Company in View of Globalization John Deere is one of the most successful agricultural machinery companies in the world today. In 1963, the company became the world’s largest manufacturer.
• Globalization and Transformative Process Drivers This paper will discuss the meaning of globalization and the factors contributing to the global transformation process.
• International Organizations Role in Globalization Process The representatives of international organizations have a common agenda: turning the world into a “global village” and prompting the world’s population to think of neoLiberalism.
• Asian Film Industry Globalization Before 1997, most of the East Asian film industry was purely based within the region and marred with little success. Two political and economic events that year marked a turning point for this industry.
• International Economy. Oakley’s Globalization Theory In “International Political Economy,” Thomas Oakley discusses globalization, its drivers, and its effects on various actors in the international scene.
• Geographical Conditions’ Affect of Globalization The scholars of the 20th century conceptualized this idea, by creating the North-South divide – a geographic line between the countries that signifies the division on wealthy and emerging nations
• Globalization and Knowledge Management This paper outlines the knowledge management in the context of globalization and using personal experience with virtual learning.
• Supply Chain Management in Globalization Era In the accelerating process of globalization, supply chain management is an integral part of most organizations which is essential to a company’s success.
• Globalization Concept and Its Impact on the State Globalization does not make the state redundant. On the contrary, it makes it important for the full exploitation of the opportunities that come as a result of international integration.
• Hard Rock Café: E-Commerce and Globalization Hard Rock Café can utilize ICT and e-commerce models by hiring customer care executives working from home and submitting their work loads to the café’s head quarters.
• Impact of Globalization on Gender Norms and Experiences The contemporary world is characterized by economic, social, cultural, and political integration of both men and women across all spheres.
• Millenium Development Goals and Globalization The major objective of Development Goals is to foster the positive development of the world in the new century, thus making human lives better.
• The Globalization Index and Singapore as the Leading State This paper discusses the Globalization Index and what challenges the United States or any other developed country would face if it attempted to replace Singapore in the top spot.
• Globalization and Indigenous Communities in Canada In Canada, indigenous people feel both the austerities of environmental and cultural destruction and the potential for development.
• Netflix: Globalization and Information Research In a three-stage expansion process, Netflix could make strategic decisions and establish effective policies in those markets
• Globalization and Geographic Information System Globalization is the process by which the globe becomes increasingly interconnected due to the exchange of commodities and services, information, knowledge, and cultural values.
• Interconnection of Globalization and Culture Despite serious issues, globalization has encouraged the funding of various initiatives in contemporary acts, contributing to the development of the market.
• Globalization and Christian Mission Globalization has changed the landscape of industrial and business environments, and religion was inevitably affected by it, as well.
• Food and Water Security as Globalization Issues Globalization has several implications for the business environment, among which are the expanded access to resources, and the interdependence of international companies.
• Geographical Diversification and Globalization With current terms of business operations between countries, it has been possible for businesses to diversify their market by venturing into other local and international markets.
• Process of Globalization and Nationalist Movements The transition between globalism and nationalism is frequently perceived as a threat to the government and its people.
• International Finance and Globalization The monetary authorities of a country can use monetary tools to keep the value of their currencies lower than the value which would have been set by the market forces.
• How Residents of Georgia Understand and React to Globalization In the case of the state of Georgia, the understanding and reaction to globalization focus on economic integration and social well-being.
• Capitalism, Climate Change, and Globalization Globalization allowed significant corporations to put a substantial strain on the environment in developing countries.
• The Positive and Negative Aspects of Globalization Globalization is the result of many socio-economic processes associated with the widespread use of information technology and new means of communication.
• The Dark Side of Globalization Buoyancy on the Bayou: Shrimpers Face the Rising Tide of Globalization by Jill Ann Harrison explores the effect of globalization on local worlds.
• Chinese Companies and Globalization Issues People are the driving force of a company; to unleash that force, the patrimonial approach should be changed to more liberal and liberating methods.
• “Globalization, Lifelong Learning and the Learning Society: Sociological Perspectives: 2” by Peter Jarvis The book by Peter Jarvis “Globalization, Lifelong Learning and the Learning Society: Sociological Perspectives: 2” is a research book with an overall perspective on the value of education.
• Market Globalization and Global Marketing Pitfalls Customization is fraught with several outcomes that may inhibit the further advancement of a company in the global economy.
• Religion, Globalization, and Language in China This research paper examines the problems of religion, globalization, and language from the Chinese perspective.
• Globalization and Use of Fossil Fuel as Environmental Threats Both the process of globalization and the burning of fossil fuels have been significant contributors to the deterioration of the environment’s health on a worldwide scale.
• Reshaping Globalization and Digital Media Over the decades, distinctive events and activities have contributed to the construction of the current global spectrum.
• Education Under Impact of Globalization The negative impact of globalization was the widening gap in access to education. Globalization has made English the main language of education, which can lead to discrimination.
• Globalization and Technological Development Technological development continues to facilitate globalization, with individuals from third-world countries coming to the forefront of the modern workforce.
• The Globalization Impact on Cultural Production Human culture is evolving in the context of globalization, as many states are no longer in colonial relationships. It leads to global hegemony and diminishing diversity.
• Addressing Global Inequality in the Era of Globalization While globalization has led to social, political, and economic increase, it has also given rise to global inequality, particularly through the exploitation of developing countries.
• Globalization: Impact on International Business With higher levels of globalization, the overall international business will be safer as there will be more suppliers and manufacturers on the market.
• Response to Globalization Pressure This paper aims to introduce a plan of action to ensure my continued employability as a professional in the sphere of international affairs.
• Globalization and its Impact on the World A phenomenon that gathered speed after World War II, globalization has tremendously impacted the international economy, society, and culture by enabling greater interconnectedness and cross-border exchange of people and ideas. Globalization is a complex phenomenon that has benefited developed countries economically while unfairly distributing wealth to underdeveloped nations and disenfranchising…
• The Globalization Impact on the US Foreign Policy The ability of the US to use its influence to alter international events is limited by globalization. America cannot deal with the issues brought on by globalization on its own.
• Effects of Colonialism and Globalization During the era of colonialism, colonies were perceived to be a major source of raw materials for the industries of the developed nations.
• Globalization Challenges in Developing Countries and Japan The participation of nations in global trade has several benefits, even though various problems impede countries from accessing global markets.
• Globalization and Democratic Peace Theory In the context of globalization, it is necessary to consider the theory of democratic peace, which recognizes democracy as the best form of government for society.
• Globalization: Climate Crisis and Capitalist Ideology One of the main features of the development of the world community in recent decades has been globalization as part of integration processes that are changing the world structure.
• Globalization and Its Pros and Cons It is hard to disagree that there is probably nothing universally positive or negative in this world. Everything has a price.
• Project Management Analysis and Globalization Technological supply chain management strategies and the development of dependable distribution systems in globalization are crucial components.
• The Phenomenon of Terrorism and Its Relation to Globalization This paper states that the phenomenon of terrorism is tightly connected to the concept of inequality of globalization.
• Globalization and Its Scale in the World Regardless of all opportunities provided by technological progress, the world remains less globalized than the majority of people expect.
• Globalization and Poverty: Trade Openness and Poverty Reduction in Nigeria Globalization can be defined as the process of interdependence on the global culture, economy, and population. It is brought about by cross-border trade.
• The Impact of Globalization on Business in India and the USA Since globalization started to affect the economy of the USA and India, it has had various positive and negative impacts on business.
• Impact of Progressive Globalization One of the key processes in the development of the world economy on the verge of the XX-XXI centuries is the progressive globalization.
• Globalization After World War I The emergence of the global economy corresponds to the aftermath of World War I, and the battle of governments and markets for control over the field brought unexpected results.
• Researching the Concept of Globalization The paper aims to analyze the global playing field and support it with arguments why it is considered to be level.
• Globalization: Beauty Sculpt for You Today society is filled with the obsession with promoting a self-image of beauty and perfection. Individuals take extreme measures to reach the goal of a flawless body.
• Ethnic Violence in the Era of Economic Globalization Economic globalization refers to the interdependence of the world’s financial giants due to increased technology and trade across the borders.
• Globalization Impact on Socioeconomic Inequality This paper analyzes the link between globalization and socioeconomic inequality, and how the inequality problem can be mitigated.
• Solving Problems Through Globalization The paper discusses the importance of uniting to create a global world. Globalization makes it easier to solve universal challenges that affect populations.
• Globalization and Personal Identity Intersection The conditions dictated by globalization actualize the problem of cultural uniqueness and cultural self-determination, including identity.
• Negative Sentiments Against Trade and Globalization Although the authors’ views are robust and applicable to developed economies, rising negative sentiments against trade and globalization remain relevant in developing countries.
• Anthropocene and Its Role in Globalization The role of the Anthropocene in globalization can hardly be overestimated since, due to human activities, the world is becoming more and more interconnected.
• Globalization Opportunities and Challenges for Companies A company that adheres to the market development strategy should analyze the opportunities and challenges of globalization.
• Globalization Strategies for Multinational Enterprises
• Human Sense of Place in the Context of Globalization
• American Dominant Minority Relations and Impact of Globalization
• Hip Hop’s Globalization and Influence of Hip-Hop Music in Japan
• The Effects of Globalization on the Environment
• The Food and Drug Administration (FDA) and Globalization
• Wireless Industry and Globalization for US Economy
• Globalization: Arguments For and Against
• Global Poverty and Economic Globalization Relations
• “Globalization” by Peter Temin: Article Analysis
• Globalization Effect on Social Movements
• Globalization and Technology in Health Care
• Economics: The Impact of Globalization
• Globalization of Nursing: Infant Mortality Rate in the US and Other States
• Foreign Direct Investment: Globalization of Production
• Globalization: On the Importance of ICT & Transnational Corporations
• The Facets of Globalization in Internet Security
• Cultural Globalization as the Americanization of the World’s Cultures
• Globalization and American Productivity
• Globalization and Economic Inequality
• Globalization and Competition: The USA, Western Europe, Japan
• Tangible & Inevitable: Globalization as a Worldwide Phenomenon
• Pop Culture as a Potent Globalization Tool
• The Financial Crisis and Its Connection With Globalization
• The Effects of Globalization on Trade
• Why Globalization Causes Turbulence and Disruption
• Globalization of Healthcare in the US and Haiti
• Globalization and Related Environmental Issues
• Globalization and the Formation of New Claims
• Overcoming CSR Challenges in the Age of Globalization
• Present Day Resistance Historical Roots to the Trade Globalization
• Energy Crisis: The Processes of Globalization and the Unification
• Long-Term Impacts of the Chinese-American Trade War and Globalization of the World Economy
• Free Trade as a Fundamental Principle of Modern Globalization
• Global Governance Institutions in Context of Globalization
• Leadership and Organizational Change: Diversity and Globalization
• Globalization and Career of University of East London’s Students
• Globalization: Impact and Consequences
• Role of Globalization in Asian Market
• Globalization and Its Effects on World Economies
• Economic Globalization: The Role of Geography
• “The Globalization of American Law” by R. D. Kelemen and E. C. Sibbitt
• Globalization and Immigration: Globalization Policies
• Education With Regard to Globalization Issues
• Whether Globalization Makes Consumer Powerless?
• World Is Flat: Globalization Effect
• Globalization and Its Impact on Firms
• Environment: Rapid Increasing in Industrialization and Globalization
• Ethics In The Business Globalization
• Contemporary Globalization Since 1914
• Survival of Minority Ethnic Groups in Globalization
• “Globalization, Poverty and Inequality” by Kaplinsky
• Globalization’s Impact on Banks in Canada
• Global Politics: Women’s Rights, Economy, Globalization
• TNCs Contribution to Globalization of Retail Industry
• Globalization and Cultural Difference of Societies
• Globalization, the Sex Trade and HIV-AIDS
• Media Production and Connections in Globalization
• China’s Impact on Globalization and International Security
• Three Areas of Concern for Committee on Globalization
• Moving Away From Globalization: Consequences
• Globalization and Russian Influence
• “The Globalization of Markets” Book by Levitt
• American Popular Culture and Globalization Effects
• Chapters 2 and 9 of “Sociology of Globalization” by Smith
• Human Rights, Globalization and Economic Development
• Globalization Influences Discussed in TED Talks
• Education History and Globalization
• Globalization and Its Consequences: Economic Crossroads
• Germany’ Sovereignty in the Age of Globalization
• Globalization vs. Traditions in Eastern Culture
• Ethics in Reporting: Globalization and Media
• Globalization Effect on Developing Countries’ Business
• Identity Politics as a Response to Globalization
• Globalization and Cultural Knowledge of China
• The Pitfalls of Globalization
• Aspects of Globalization: Positive and Negative Effects
• Spiritual Perspectives on Globalization by Ira Rifkin
• Globalization and Its Benefits for the United States
• Globalization and Businesses in New Economies
• The Effect of Globalization in Economic Development
• Evaluating the Effects: Advantages of Globalization
• Child Labor Role in Westernization and Globalization
• Singapore Globalization: Criterias and Ranks
• Globalization Impacts on the United Nations Institution
• Globalization and Citizenship in EU

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Essay on Globalisation

List of essays on globalisation, essay on globalisation – definition, existence and impact (essay 1 – 250 words), essay on globalisation (essay 2 – 250 words), essay on globalisation – in india (essay 3 – 400 words), essay on globalisation – objectives, advantages, disadvantages and conclusion (essay 4 – 500 words), essay on globalisation – for school students (class 6,7,8,9 and 10) (essay 5 – 600 words), essay on globalisation (essay 6 – 750 words), essay on globalisation – for college and university students (essay 7 – 1000 words), essay on globalisation – for ias, civil services, ips, upsc and other competitive exams (essay 8 – 1500 words).

The worldwide integration of people, services and interests is what globalisation is all about. Since the last decade, there has been a tremendous focus on globalisation with everyone trying to have a reach at even the remotest locations of the world. This has probably been possible due to the advancement in technology and communication.

Audience: The below given essays are especially written for school, college and university students. Furthermore, those students preparing for IAS, IPS, UPSC, Civil Services and other competitive exams can also increase their knowledge by studying these essays.

The word ‘Globalization’ is often heard in the business world, in corporate meetings, in trade markets, at international conferences, in schools, colleges and many other places. So what does globalization symbolize? Is it a new concept or did it exist earlier? Let’s see.

Definition:

Globalization refers to the integration of the world nations by means of its people, goods, and services. The statement – ‘ globalization has made the world a small village ’ is very true.

Countries inviting foreign investment, free trade and relaxation in the visa rules to allow seamless movement of people from one country to another are all part of globalization.

In a nutshell, globalization has reduced the distance between nations and its people.

Many among us refer to the current period that we live in as ‘The Era of Globalization’ and think that the process of globalization has started only recently. But the real fact is that globalization is not a new phenomenon . The world was moving towards globalization from a very long time. The term globalization was in existence since mid-1980s. But it was only from the early 21 st century that globalization picked up momentum due to the advancements in technology and communication.

Impact of Globalization:

Globalization has more positive outcomes than the negative ones. The impact of globalization on the developing countries such as India, China and some African countries are overwhelming. Foreign investments have created a lot of employment opportunities in the developing countries and have boosted their economy. Globalization has also enabled people to interchange their knowledge and culture.

Conclusion:

Although the world is not completely globalized, we can very well say that globalization is the best way to achieve equality among nations.

In simple words, globalization means the spreading of a business, culture, or any technology on an international level. When the boundaries of countries and continents matter no more, and the whole world becomes one global village in itself. Globalization is an effort to reduce the geographical and political barriers for the smooth functioning of any business.

There are four main factors that form the four pillars of globalization. These are the free flow of goods, capitals, technology, and labors, all across the world. Although, many of the experts that support globalization clearly refuse to acknowledge the free flow of labor as their work culture.

The international phenomenon of global culture presents many implications and requires a specific environment to flourish. For instance, it needs the other countries to come to a mutual agreement in terms of political, cultural, and economic policies. There is greater sharing of ideas and knowledge and liberalization has gained a huge importance.

Undoubtedly, globalization helps in improving the economic growth rate of the developing countries . The advanced global policies also inspire businesses to work in a cost-effective way. As a result, the production quality is enhanced and employment opportunities are also rising in the domestic countries.

However, there are still some negative consequences of globalization that are yet to be dealt with. It leads to greater economic and socio-cultural disparities between the developed and the developing countries. Due to the MNC culture, the small-scale industries are losing their place in the market.

Exchanges and integration of social aspect of people along with their cultural and economic prospects is what we term as Globalization. It is considered as a relatively new term, which has been in discussion since the nineties.

Initial Steps towards Globalization:

India has been an exporter of various goods to other countries since the earlier times. Hence Globalization, for India, is not something new. However, it was only around in the early nineties that India opened up its economy for the world as it faced a major crisis of severe crunch of foreign exchange. Since then, there has been a major shift in the government’s strategies while dealing with the PSUs along with a reduction in the monopoly of the government organisations perfectly blended with the introduction of the private companies so as to achieve a sustainable growth and recognition across the world.

The Measurement of Success:

The success of such measures can be measured in the form of the GDP of India which hovered around 5.6% during the year 1990-91 and has been now around 8.9% during the first quarter of 2018-19. In fact, in the year 1996-97, it was said to have peaked up to as high as 77.8%. India’s global position is improved tremendously due to the steady growth in the GDP thus furthering the impact of globalization on India. As on date, India is ranked as the sixth biggest economy in the world. This globalization leading to the integration and trade has been instrumental in reducing the poverty rate as well.

However, given the fact that India is the second most populated country of the world, after China, this growth cannot be considered as sufficient enough as other countries such as China have increased their growth rates at much faster pace than India. For instance, the average flow of FDI in India, over the past few years has been around 0.5% of the GDP while for countries such as China it has been around 5% and Brazil has had a flow of around 5.5%. In fact, India is considered among the least globalized economy among the major countries.

Summarily, there has been a tremendous increase in the competition and interdependence that India faces due to Globalization, but a lot is yet to be done. It is not possible for a country to ignore the developments and globalization occurring in the rest of the world and one need to keep the pace of growth at a steady rate or else you may be left far behind.

The twentieth century witnessed a revolutionary global policy aiming to turn the entire globe into a single market. The motive of globalization can broadly define to bring substantial improvement in the living condition of people all around the world, education, and shelter to everybody, elimination of poverty, equal justice without any race or gender consideration, etc. Globalization also aims to lessen government involvement in various development activities, allowing more direct investors/peoples’ participation cutting across border restrictions thus expected to reap reasonable prosperity to human beings.

Main Objectives of Globalization:

The four main aspects of globalization are; Capital and Investment movements, Trade and Transactions, Education and Spread of knowledge, along with Migration and Unrestricted Movement of People.

In simpler terms, globalization visualizes that one can purchase and sell goods from any part of the world, communicate and interact with anyone, anywhere in the world and also enables cultural exchange among the global population. It is operational at three levels namely, economic globalization, cultural globalization, and political globalization. Right from its inception, the impact of globalization has both advantages and disadvantages worldwide.

Advantages of Globalization:

As the word itself suggests, this policy involves all the nations across the globe. The lifting of trade barriers can have a huge impact especially in developing countries. It augments the flow of technology, education, medicines, etc., to these countries which are a real blessing.

Globalization expects to create ample job opportunities as more and more companies can extend their presence to different parts of the world. Multinational companies can establish their presence in developing countries. Globalization gives educational aspirants from developing and underdeveloped countries more quality learning opportunities. It leads not only to the pursuit of best higher education but also to cultural and language exchanges.

Globalization also enhances a faster flow of information and quick transportation of goods and services. Moreover one can order any item from anywhere merely sitting at home. Another plus point of globalization is the diminishing cultural barriers between nations as it offers free access and cultural interactions . Also, it has been observed that there is a considerable reduction of poverty worldwide due to globalization . In addition to this, it also enables the effective use of resources.

Disadvantages of Globalization:

Globalization turned out to be a significant threat to the cottage and small-scale industries as they have to compete with the products of multi-national companies. Another dangerous effect of globalization is the condition of weak sections of the society, as they are getting poorer and the rich are getting richer. The situation leads to the domination of economically rich countries over emerging countries and the increase of disparity.

The actions of multi-national companies are deplorable and always facing criticism from various social, government and world bodies as they are incompetent in offering decent working conditions for the workers. Irrational tapping of natural resources which are instrumental in causing ecological imbalance is another major accusation against multi-national companies.

Globalization is also blamed to have paved the way for human trafficking, labor exploitation and spread of infectious diseases too. In addition to all these, if any economic disaster hit a country and if they subsequently suffer from economic depression, its ripples are felt deeply in other countries as well.

Despite all its disadvantages, globalization has transformed the entire globe into a single market irrespective of its region, religion, language, culture, and diversity differences. It also leads to an increase in demand for goods, which in turn calls for more production and industrialization. Our focus should be to minimize the risks and maximize the positive outcome of global policy, which in turn can help for a sustainable long-standing development for people all around the world.

Introduction:

Globalization is the procedure of global political, economic, as well as cultural incorporation of countries . It lets the producers and manufacturers of the goods or products to trade their goods internationally without any constraint.

The businessman fetches huge profit as they easily get low price workforce in developing nations with the concept of globalization. It offers a big prospect to the firms who wish to deal with the global market. Globalization assists any nation to contribute, set up or amalgamate businesses, capitalize on shares or equity, vending of services or products in any country.

How does the Globalization Work?

Globalization benefits the international market to the entire deliberate world like a solitary marketplace. Merchants are spreading their extents of trade by aiming world as a worldwide community. In the 1990s, there was a limit of importing some goods that were already mass-produced in India such as engineering goods, agricultural products, toiletries, food items, etc.

But, in the 1990s the rich countries pressurize the WTO (World Trade Organization), World Bank (affianced in improvement financing activities), and IMF (International Monetary Fund) to let other nations spread their trades by introducing market and trade in the deprived and emerging countries. The process of liberalization and globalization in India began in the year 1991 below the Union Finance Minister Mr. Manmohan Singh.

After numerous years, globalization has fetched major uprising inside the Indian marketplace when international brands arrived in India such as KFC, PepsiCo, Mc. Donald, Nokia, IBM, Aiwa, Ericsson, etc., and began the delivery of an extensive variety of quality goods at low-cost rates.

The entire leading brands presented actual uprising of globalization at this time as a marvellous improvement to the economy of an industrial sector. Rates of the quality goods were also getting low owing to the cut-throat war happening in the marketplace.

Liberalization and globalization of the businesses in the Indian marketplace is submerging the quality of imported goods but influencing the local Indian businesses badly in large part causing the job loss of illiterate and poor labors. Globalization has remained a goldmine for the customers, but it is also a burial ground for the small-scale manufacturers in India.

Positive Influences of Globalisation:

Globalization has influenced the education sectors and students of India predominantly by making accessible the education material and enormous info on the internet. Association of Indian universities with the overseas universities has fetched a massive modification in the education business.

The health industries are too influenced enormously by the globalization of health observing electronic apparatuses, conventional drugs, etc. The trade globalization in the agricultural sector has provided a range of high-quality seeds possessing disease-fighting property. But, it is not beneficial for the underprivileged Indian agriculturalists owing to the reason of expensive seeds as well as agricultural equipment.

Globalization has given an enormous rebellion to the occupation sector by increasing the growth of trades related to the handloom , cottage, artisans and carving, carpet, jewellery, ceramics, and glassware, etc.

Globalization is definitely required by the people and nation to progress and turn into an established society and country. It benefits in expanding our visualization and thoughts. It also aids in endorsing the philosophy that we fit in a huge crowd of persons, i.e., the humankind. Once the two nations congregate, they flourish by sharing their beliefs, thoughts, opinions, customs, and behaviors. People come to know new things and also acquire a chance to discover and get acquainted with other values.

Globalization has provided many reasonably priced valued goods and complete economic welfares to the emerging nations in addition to the employment. But, it has also given growth to the crime, competition, terrorism, anti-national activities, etc. Thus, along with the pleasure it has supplied some grief too.

Globalization is a term that we hear about every now and then. Question is; do we really know what it is all about? Globalization is defined as the process of integration and interaction among people, cultures and nations who come together in order to get things done easily through contact. Globalization began with the migration of people from Africa to different parts of the world. Global developments have been achieved in various sectors through the different types of globalization. The effects of globalization have been felt in every part of the world and more people continue to embrace it. Globalization has some of its core elements that help in the process.

Types of Globalization:

Globalization does not just transform a sector unless the strategies are related to that specific sector. The first type of globalization is financial and economic globalization whereby interaction takes place in the financial and economic sectors especially through stock market exchange and international trade. The other type is technological globalization which involves the integration and connection of different nations through technological methods like the internet. Political globalization transforms the politics of a nation through interactions with adoption of policies and government that cut across other nations. Cultural globalization is basically the interaction of people from different cultures and sharing. Ecological globalization is the viewing of the earth as one ecosystem and sociological globalization is on equality for all people.

Elements of Globalization:

Globalization works with characteristic elements. Trade agreements is one of the components that significantly benefits the economic and financial globalization. These trade agreements have been designed to promote and sustain globalization by preventing barriers that inhibit trade among nations or regions. Another element is capital flow that is concerned with the measures of either a decline or a rise in domestic or foreign assets. Migration patterns is a socio-economical and cultural element that monitors the impacts of immigration and emigration actively. The element of information transfer involves communications and maintains the functioning of the markets and economies. Spread of technology is an element of globalization that facilitates service exchanges. Without these elements, globalization would have faced many challenges, which would even stagnate the process of globalization.

Impacts of Globalization:

The impact of globalization is felt differently among individuals but the end result will be either positive or negative. Globalization has impacts on the lives of individuals, on the aspects of culture, religions and education. The positive impacts of globalization include the simplification of business management through efficiency. In business, the quality of goods and services has increased due to global competition. Foreign investment has been facilitated by globalization and the global market has been able to expand. Cultural growth has been experienced through intermingling and accommodation. Interdependence among nations has developed and more people have been exposed to the exchange program between nations. Improvement of human rights and legal matters has improved through media and technology sharing. Poverty has been alleviated in developing countries due to globalization and also employment opportunities are provided. Through technology, developments have been positively influenced in most parts of the world.

Although globalization has positive impacts, the negative impacts will remain constant unless solutions are sought. One of the negative effects of globalization is job insecurity for some people. Through globalization, more innovations are achieved, for e.g., technology causes automation and therefore people get replaced and they lack jobs. Another negative impact is the frequent fluctuation of prices of commodities that arises from global competitions. On the cultural side, the fast food sector has become wide spread globally, which is an unhealthy lifestyle that was adopted due to globalization. Also, Culture has been negatively affected for people in Africa because they tend to focus more on adopting the western culture and ignore their cultural practices.

Possible Solutions to the Negative Impacts of Globalization:

Globalization has impacted the society negatively and some of the solutions might help to mitigate the impacts. When adopting cultures from other people, it is important to be keen on the effects of the culture on the people and the existing culture being practiced. For example, Africans should not focus more of the western culture such that they ignore their own culture.

In conclusion, it is evident that globalization results in both negative and positive consequences. The society should embrace the positive and mitigate the negative impacts. Globalisation is a dynamic process which involves change, so flexibility among people is a must.

The buzzword befitted to describe the growth of Modern Indian economy is ‘Globalization’. But what exactly is Globalization? Globalization can be defined as integrating the economy of a country with the rest of the countries of the world. From the Indian perspective, this implies encouraging free trade policies, opening up our economy to foreign direct investment, removing constraints and obstacles to the entry of multinational corporations in India, also allowing Indian companies to set up joint ventures abroad, eliminating import restrictions, in-short encouraging Free Trade policies.

India opened its markets to Global Trade majorly during the early Nineties after a major economic crisis hit the country. New economic reforms were introduced in 1991 by then Prime Minister Shri. P V. Narasimha Rao and Finance Minister at the time, Dr. Manmohan Singh. In many ways, the new economic policies positively contributed to the implementation of the concept of Globalization in India.

It’s Impact:

1. Economic Impact :

Globalization in India targets to attract Multinational Companies and Institutions to approach Indian markets. India has a demography with a large workforce of young citizens who  are in need of jobs. Globalization has indeed left a major impact in the jobs sector. Indian companies are also expanding their business all over the world. They are driving funds from the bigwigs of the Global economy.

The Best example in today’s time is OYO Rooms, a budding Indian company in the hospitality sector. OYO Rooms recently made headlines when it declared to raise a fund close to $1 Billion from Japan’s Soft Bank Vision Fund. Globalization has also led the Indian Consumer market on the boom. The Giant of FMCG (fast-moving consumer goods) sector WALMART is also enthusiastic and actively investing in the India market.

2. Socio-Cultural impact on the Indian Society:

The world has become a smaller place, thanks to the social networking platforms blooming of the internet. India is a beautiful country which takes immense pride in “Unity in Diversity” as it is home to many different cultures and traditions. Globalization in India has left a lasting impression on the socio-cultural aspect of Indian society.

Food chains like McDonald’s are finding its way to the dining tables. With every passing day, Indians are indulging more and more in the Western culture and lifestyle. But Globalization in India has also provided a vibrant World platform for Indian Art, Music, Clothing, and Cuisine.

The psychological impact on a common Indian Man: The educated youth in India is developing a pictorial identity where they are integrating themselves with the fast-paced, technology-driven world and at the same time they are nurturing the deep roots of Indian Culture. Indians are fostering their Global identity through social media platforms and are actively interacting with the World community. They are more aware of burning issues like Climate Change, Net neutrality, and LGBT rights.

Advantages:

India has taken the Centre Stage amongst the Developing Nations because of its growing economy on the World Map. Globalization in India has brought tremendous change in the way India builds its National and International policies. It has created tremendous employment opportunities with increased compensations.

A large number of people are hired for Special Economic Zones (SEZs), Export Processing Zones (EPZs), etc., are set up across the country in which hundreds of people are hired. Developed western countries like USA and UK outsource their work to Indian companies as the cost of labour is cheap in India. This, in turn, creates more employment. This has resulted in a better standard of living across the demographic of young educated Indians. The Indian youth is definitely empowered in a big way.

Young lads below the age of 20 are now aspiring to become part of global organizations. Indian culture and morals are always strengthening their roots in modern world History as the world is now celebrating ‘International Yoga Day’ on 21st June every year. Globalization in India has led to a tremendous cash flow from Developed Nations in the Indian market. As a positive effect, India is witnessing the speedy completion of Metro projects across the country. Another spectacular example of newly constructed High-end Infrastructure in the country is the remarkable and thrilling ‘Chenani-Nashri Tunnel’, Longest Tunnel in India constructed in the State of Jammu and Kashmir. Globalization has greatly contributed in numerous ways to the development of Modern India.

Disadvantages:

As there are so many pros we cannot turn a blind eye to the cons of Globalization which are quite evident with the Indian perspective. The worst impact is seen in the environment across Indian cities due to heavy industrialization. Delhi, the capital of India has made headlines for the worst ever air pollution, which is increasing at an alarming rate.

India takes pride in calling itself an Agriculture oriented nation, but now Agriculture contributes to fragile 17% of the GDP. Globalization in India has been a major reason for the vulnerable condition of Indian Farmers and shrinking Agriculture sector. The intrusion of world players and import of food grains by the Indian Government has left minimal space for Indian farmers to trade their produce.

The impact of westernization has deeply kindled individualism and ‘Me factor’ and as a result, the look of an average Indian family has changed drastically where a Nuclear family is preferred over a traditional Joint family. The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat.

One cannot clearly state that the impact of Globalization in India has been good or bad as both are quite evident. From the economic standpoint, Globalization has indeed brought a breath of fresh air to the aspirations of the Indian market. However, it is indeed a matter of deep concern when the Indian traditions and value system are at stake. India is one of the oldest civilizations and World trade has been the keystone of its History. Globalization must be practiced as a way towards development without compromising the Indian value system.

Globalisation can simply be defined as the process of integration and interaction between different people, corporations and also governments worldwide. Technology advancement which has in turn advanced means of communication and transportation has helped in the growth of globalisation. Globalisation has brought along with it an increase in international trade, culture and exchange of ideas. Globalisation is basically an economic process that involves integration and interaction that deals also with cultural and social aspects. Important features of globalisation, both modern and historically are diplomacy and conflicts.

In term of economy, globalisation involves services and goods, and the resources of technology, capital and data. The steamship, steam locomotive, container ship and jet engine are a few of the many technological advances in transportation while the inception of the telegraph and its babies, mobile phones and the internet portray technological advances in communications. These advancements have been contributing factors in the world of globalisation and they have led to interdependence of cultural and economic activities all over the world.

There are many theories regarding the origin of globalisation, some posit that the origin is in modern times while others say that it goes way back through history before adventures to the new world and the European discovery age. Some have even taken it further back to the third millennium. Globalisation on a large-scale began around the 1820s. Globalisation in its current meaning only started taking shape in the 1970s. There are four primary parts of globalisation, they are: transactions and trade, investments and capital movement, movement and migration of people and the circulation of knowledge and information. Globalization is subdivided into three: economic globalisation, political globalisation and cultural globalisation.

There are two primary forms of globalisation: Archaic and Modern Globalisations. Archaic globalisation is a period in the globalisation history from the period of the first civilisations until around the 1600s. Archaic globalisation is the interaction between states and communities and also how they were incepted by the spread by geography of social norms and ideas at different levels.

Archaic globalisation had three major requirements. First is the Eastern Origin idea, the second is distance, the third is all about regularity, stability and inter-dependency. The Silk Road and trade on it was a very important factor in archaic globalisation through the development of various civilisations from Persia, China, Arabia, Indian subcontinent and Europe birthing long distance economic and political relationships between them. Silk was the major item from China along the Silk Road; other goods such as sugar and salt were also traded.

Philosophies, different religious beliefs and varying technologies and also diseases also moved along the Silk Road route. Apart from economic trade, the Silk Road also was a means of cultural exchange among the various civilisations along its route. The cultural exchange was as a result of people’s movement including missionaries, refugees, craftsmen, robbers, artists and envoys, resulting in religions, languages, art and new technologies being exchanged.

Modern globalisation can be sub-divided into early modern and Modern. Early modern globalisation spans about 200 years of globalisation between 1600 and 1800. It is the period of cultural exchange and trade links increasing just before the modern globalisation of the late 19 th century. Early modern globalisation was characterised by Europeans empires’ maritime of the 16 th and 17 th centuries. The Spanish and Portuguese Empires were the first and then we had the British and Dutch Empires. The establishment of chartered companies (British East India Company and the Dutch East India Company) further developed world trade.

Modern Globalisation of the 19 th century was as a result of the famed Industrial Revolution. Railroads and steamships made both local and international transportation easier and a lot less expensive which helped improve economic exchange and movement of people all over the world, the transportation revolution happened between 1820 and 1850. A lot more nations have embraced global trade. Globalisation has been shaped decisively by the imperialism in Africa and in Asia around the 19 th century. Also, the ingenious invention in 1956 of the shipping container has really helped to quicken the advancement of globalisation.

The Bretton Woods conference agreement after the Second World War helped lay the groundwork for finance, international monetary policy and commerce and also the conception of many institutions that are supposed to help economic growth through lowering barriers to trade. From the 1970s, there has been a drop in the affordability of aviation to middle class people in countries that are developed. Also, around the 1990s, the cost of communication networks also drastically dropped thus lowering the cost of communicating between various countries. Communication has been a blessing such that much work can be done on a computer in different countries and the internet and other advanced means of communications has helped remove the boundary of distance and cost of having to travel and move from place to place just to get business done.

One other thing that became popular after the Second World War is student exchange programmes which help the involved students learn about, understand and tolerate another culture totally different from theirs, it also helps improve their language skills and also improve their social skills. Surveys have shown that the number of exchange students have increased by about nine times between 1963 and 2006.

Economic globalisation is differentiated from modern globalisation by the information exchange level, the method of handling global trade and expansionism.

Economic Globalisation:

Economic globalisation is just the ever increasing interdependence of economies of nations worldwide caused by the hike in movement across borders of goods, services, capital and technology. Economic globalisation is basically the means of increasing economic relationships between countries, giving rise to the birth of a single or global market. Based on the worldview, Economic globalisation can be seen as either a negative or positive thing.

Economic globalisation includes: Globalisation of production; which is getting services and goods from a source from very different locations all over the world to gain from the difference in quality and cost. There is globalisation of markets; which is the coming together of separate and different markets into one global market. Economic globalisation includes technology, industries, competition and corporations.

Globalisation today is all about less developed countries and economies receiving FDI (Foreign Direct Investment) from the more developed countries and economies, reduction in barriers to trade and to particular extent immigration.

Political Globalisation:

Political globalisation is going to on-the-long-run drop the need for separate nation or states. Institutions like the International Criminal court and WTO are beginning to replace individual nations in their functions and this could eventually lead to a union of all the nations of the world in a European Union style.

Non-governmental organisations have also helped in political globalisation by influencing laws and policies across borders and in different countries, including developmental efforts and humanitarian aid.

Political globalisation isn’t all good as some countries have chosen to embrace policies of isolation as a reactionary measure to globalisation. A typical example is the government of North Korea which makes it extremely difficult and hard for foreigners to even enter their country and monitor all of the activities of foreigners strictly if they allow them in. Citizens are not allowed to leave the country freely and aid workers are put under serious scrutiny and are not allowed in regions and places where the government does not want them to enter.

Intergovernmentalism is the treatment of national governments and states as the major basic factors for integration. Multi-level governance is the concept that there are many structures of authority interacting in the gradual emergence of political globalisation.

Cultural Globalisation:

Cultural globalisation is the transmission of values, ideas and meanings all over the world in a way that intensify and extend social relations. Cultural globalisation is known by the consumption of different cultures that have been propagated on the internet, international travel and culture media. The propagation of cultures helps individuals to engage in social relations which break regional boundaries. Cultural globalisation also includes the start of shared knowledge and norm which people can identify their cultures collectively; it helps foster relationships between different cultures and populations.

It can be argued that cultural globalisation distorts and harms cultural diversity. As one country’s culture is inputted into another country by the means of globalisation, the new culture becomes a threat to the cultural diversity of the receiving country.

Globalisation has made the world into one very small community where we all interact and relate, learn about other cultures and civilisations different from ours. Globalisation has helped improve the ease of doing business all around the world and has made the production of goods and services quite easy and affordable. Globalisation isn’t all good and rosy as it can be argued that Globalisation is just westernisation as most cultures and beliefs are being influenced by the western culture and belief and this harms cultural diversity. Nevertheless, the good of globalisation outweighs the bad so globalisation is actually a very good thing and has helped shape the world as we know it.

Economics , Globalisation

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Globalization Research Paper

This sample globalization research paper features: 6400 words (approx. 20 pages), an outline, and a bibliography with 45 sources. Browse other research paper examples for more inspiration. If you need a thorough research paper written according to all the academic standards, you can always turn to our experienced writers for help. This is how your paper can get an A! Feel free to contact our writing service for professional assistance. We offer high-quality assignments for reasonable rates.

Introduction

Earlier attempts to grasp globalization, contemporary approaches to globalization, the global political economy, the global cultural economy, questioning “globalization”, globalization and development, governance, sovereignty, and citizenship.

• Bibliography

More Globalization Research Papers:

• Anthropological Aspects of Globalization Research Paper
• Social and Economic Aspects of Globalization Research Paper
• Crimes of Globalization Research Paper
• Conceptions of Globalization Research Paper
• Globalization and Inequality Research Paper

Globalization is an inconsistent concept, and definitions of it abound. However, most anthropologists agree that, experientially, globalization refers to a reorganization of time and space in which many movements of peoples, things, and ideas throughout much of the world have become increasingly faster and effortless. Spatially and temporally, cities and towns, individuals and groups, institutions and governments have become linked in ways that are fundamentally new in many regards, especially in terms of the potential speed of interactions among them. Examples of these interactions are myriad: The click of a mouse button on a Wall Street computer can have immediate financial effects thousands of miles away on another continent, and events like the fall of the Berlin Wall in 1989 or footage of the 2005 tsunami in southern Asia can be televised internationally, whereby millions of viewers interpret the same images concurrently.

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Beyond these shared perspectives on and approaches to globalization, anthropologists disagree with one another in important regards. The first concerns the “what”: Does globalization name a more-or-less singular and radical transformation that encompasses the globe, in which technoeconomic advancements have fundamentally reorganized time-space, bringing people, places, things, and ideas from all corners of the world into closer contact with one another? Or, is globalization a misnomer, even a fad, a term too general to describe a vast array of situated processes and projects that are inconsistent and never entirely “global”?

A second discussion concerns the “when”: Is globalization new—do we currently live in the “global era”? Or, has the world long been shaped by human interaction spanning great distances?

These debates are not limited to two opposing sides. Some scholars feel that these very questions blunt meaningful analysis of the contemporary world and all of its nuances. By focusing largely on absolutes—that is, what is entirely singular versus wholly chaotic, what is radically new versus something predicated largely on the past— important questions are passed over. For example, what are the specific mechanisms of human interconnection and the particular histories in which they are embedded?

Anthropologists do agree, however, on how to best go about investigating globalization: through long-term, intensive fieldwork, either in a single locality or in several linked analytically together. This fieldwork is ethnographic; that is, it seeks an intimate understanding of the social and cultural dynamics of specific communities, as well as the broader social and political systems they negotiate. In a world of intensifying social relations, ethnography requires engagement in both empirical research and critical theory.

Anthropological attention to ethnographic detail is an important rejoinder to a vast globalization literature centered on macro phenomena, such as the relations between large-scale political and economic bodies like nationstates, political unions, trade organizations, and transnational corporations. Undoubtedly, these “translocal” entities are of great anthropological interest as well. Yet the discipline has taken as its goal the understanding of how specific subjects respond to and act within these large-scale processes, institutions, and discourses through culturally specific lenses. Thus, anthropology’s contribution to this literature lies in its assertion that social change, viewed in both distance-defying connections and inequitable disconnections within the world, can be compellingly grasped in the daily practices of individuals and the groups, institutions, and belief systems they inhabit.

It bears emphasis that a researcher cannot simply board a plane to “the global.” The empirical aspects of human social interaction—while facilitated by the “placelessness” of systems and structures like international finance networks, religious chat rooms, or television broadcasts—are produced, interpreted, and negotiated by people in particular places. It is for this reason that the ethnographic method has continued to define anthropological research, even as it pertains to globalization. The ethnographic emphasis has long been to follow the question, the person, the commodity, or the idea—all things that are continually mobilized or constrained by human activity. As will be argued in further detail below, anthropologists have tended to warn against the erasure of human agency in depictions of such interaction, and the discipline’s commitment to research continues to inform this warning. Some anthropologists have gone so far as to argue that empirically thin accounts of globalization, especially those that embrace it as a natural and ultimately unavoidable force in the world, actually obscure the means by which unequal relations of power are forged. The argument is significant, as anthropologists generally agree that the ability to define globalization and steer discussions pertaining to it greatly informs the decisions of wealthy and influential policymakers.

While often understated in current anthropological scholarship on globalization, early anthropological attempts to grasp translocal phenomena greatly influenced the discipline’s development. Indeed, anthropology has a history of engagement with translocal phenomena and has long argued that exchange across sometimes vast distances has been and is common to human social interaction. Arguably the first incarnation of such a notion is seen in the works of late 19th- and early 20th-century diffusionists, who held that cultural change was a product of initially distinct cultural traits being appropriated and dispersed among individuals and groups over great geographic distances. Franz Boas, often called the father of American anthropology, saw diffusionism as a corrective to unilineal evolutionary conceptions of culture change, which articulated the development of cultural traits as a product of independent and isolated trial and error rather than as a product of permeable social worlds facilitating cultural exchange. Boas argued as follows:

It would be an error to assume that a cultural trait had its original home in the area in which it is now most strongly developed. Christianity did not originate in Europe or America. The manufacture of iron did not originate in America or northern Europe. It was the same in early times. (Boas, 1932, p. 609)

A fellow critic of cultural evolution perspectives during Boas’s time, Bronislaw Malinowski spent over two years in the Trobriand Islands examining the kula ring, a regional system of exchange that Malinowski (1922) claimed functioned to maintain social solidarity and enhance status among males bestowing necklaces and armbands upon one another. Malinowski is most widely renowned as an early practitioner of participant observation, but Malinowski’s study also required him to practice multi-sited research, which is now seen as a sometimes necessary mode of fieldwork to “follow” translocal phenomena.

Two other anthropologists informed by functionalism and influenced by Malinowski’s study of nonmonetary exchange were Mauss and Ortiz, both of whom produced works that challenged readers to think beyond the local. Mauss’s The Gift (first published in 1923) explored the historical beginnings of translocal systems of exchange that often brought about social cohesion through gift giving and reciprocity. Mauss cited examples of this exchange among groups in the South Pacific region, as well as in North America. Originally published in 1940, Ortiz’s Cuban Counterpoint developed the concept of “transculturation” to describe the different phases of cultural hybridization between ethnically diverse groups (many of whom were arriving from foreign lands) in Cuba under colonialism. Ortiz further argued that the production and export of Cuban commodities like sugar and tobacco came to be deeply entangled with European and U.S. interests.

While the above works demonstrate early insights into the relationships between relatively small populations and an outside world, it is common to read of early 20th-century anthropology’s insular emphasis on closed, internally coherent cultural systems. Leach’s Political Systems of Highland Burma, first published in 1954, was a powerful response to the “bounded” conceptions of cultural change, as he took a regional scale as his point of entry into the indeterminate dynamics of identity formation in Burma. Leach also emphasized the power and creativity of individual actors to shape culture beyond local contexts.

The 1960s and the two decades that followed were formative in the history of anthropology’s engagement with large-scale processes. The political turmoil of the “libratory,” anticolonial wars, and rising nationalism in the global South during the 1960s are commonly cited as the greatest impetuses of this engagement. In addition, a principled dissatisfaction with the trajectory of anthropology and social science disciplines in general informed the reanimation of the Marxist approach known as political economy. Much of this dissatisfaction stemmed from a lack of engagement with political economy’s most central concerns: the nature of material production, class, and power.

Broadly conceived, the political economic approach within anthropology was utilized to understand the relations between large-scale processes of economic and political change and specific (usually subaltern) communities. The anthropological approach was heavily influenced by the “world-systems” theory of sociologist Immanuel Wallerstein and “underdevelopment” perspective of economist Andre Gunder Frank. Both of these thinkers emphasized the imposing gravity of the European- and American-dominated world economy. Concisely, this world economy provided a framework by which Western, or “core,” economies could systematically exploit the non-Western, or “peripheral” nations of the world through the appropriation of their economic surpluses and labor. This perspective laid out a significant critique of economic modernization theory, for both Wallerstein and Frank stressed the causal relationship between worldwide capitalist expansion and subaltern subjugation, or development and underdevelopment.

A common perception among anthropologists sympathetic to political economy was that the “periphery” category was too generalized and unnuanced. Anthropologists believed that their disciplinary proclivities could bring the diverse reactions of “micropopulations” to capitalist penetration into clearer focus and thus provide a more detailed, if not more realistic, explanation of unequal relations of power. Eric Wolf and Sydney Mintz were exemplary in their efforts to conjoin the broad focus of world systems theory with anthropology’s long-established object of study, the social dynamics of the subaltern.

Wolf demonstrated his materialist approach in his influential and ironically titled Europe and the People Without History (1982). The book sought ambitiously to trace the history of capitalism’s expansion and eventual penetration into precapitalist societies, and thus account for the means by which particular non-Western localities were transformed into production sites of primary goods— gold and diamonds in South Africa, coffee in Mexico, and rubber in the Amazon, to name only a few of Wolf’s examples—for Western consumption and profiteering. Wolf’s analytic brush was decidedly broad, as he sought to outline patterns of this expansion and penetration on a massive geographic scale.

Mintz’s Sweetness and Power: The Place of Sugar in Modern History (1985), while geographically narrower in its focus, was nevertheless an ambitious anthropological investigation of the politics of production and consumption between a metropole and colony during the 17th through 19th centuries. Mintz argued that slave labor in the Caribbean was a means for sugar to become a highly valued and common commodity in England. His work is important because it demonstrated that the Caribbean producers of sugar were crucial actors in the shaping of the lifeworlds of metropolitan centers of global capitalism.

Much the same as intellectual forebears like Boas, Malinowski, and Mintz, anthropologists today are apt to favor specificity and variation over generalization and central tendency. Anthropology has, subsequently, tended to shy away from grand theories that can essentialize peoples and characterize histories as predetermined. Indeed, a continued interest of anthropologists is to investigate how individuals and groups negotiate their social worlds in creative and unexpected ways. However, this has not prevented anthropologists from using macro theories as frameworks for inquiry nor from intimating how ethnographic detail is indicative of broader social configurations. The main point is that empirically supported arguments are paramount. This is where long-term, immersed fieldwork has been and remains a central element of anthropological contributions to the scholarship on globalization.

Yet the disciplinary interest in globalization has sparked debate about the future of fieldwork methodology. Indeed, while the ethos of anthropology continues to privilege singlesited fieldwork (as this has long been considered the best means to become versed in the social processes of a given community), many argue that a world of intensifying human relations has left traditional fieldwork approaches outmoded. In an effort to address this challenge, George Marcus (1995) outlined two strategies. The first argues for the use of archival data, as well as macro theory, to situate specific communities or individuals in larger socioeconomic processes. Ann Stoler’s Carnal Knowledge and Imperial Power: Race and the Intimate in Colonial Rule (2002), as well as Fernando Coronil’s The Magical State: Nature, Money, and Modernity in Venezuela (1997) are prominent examples of this approach.

The second method involves moving out from single sites to conduct “multisited” ethnography in order to examine movements of ideas, peoples, and things. Carolyn Nordstrom’s Shadows of War: Violence, Power, and International Profiteering in the Twenty-First Century (2004) takes this as its task, using ethnographic methods to track the mobility of goods and money throughout largescale extralegal exchange systems fueling conflict, marginalization, and profiteering.

While definitions of globalization abound, the greatest differences in such definitions are typically a matter of emphasis. Modern-day political economic anthropologists, for example, clearly emphasize political and economic processes that structure and are structured by landscapes of human interaction. Like Wolf and Mintz, these anthropologists view the political economic approach as a necessary corrective to scholarship that historically turned interconnected people and places into distinctive and disconnected phenomena. A great number of medical anthropologists, for example, call for anthropologists to cast light on the historical and contemporary connections and disconnections within the capitalist world system that bring about human affliction. Both Paul Farmer and Nancy Scheper-Hughes are archetypes of this contemporary political economy of health approach. Paul Farmer’s “An Anthropology of Structural Violence” (2004) outlines the historically deep and geographically broad exploitive relations between Haiti and the United States that have predestined the deaths of Haiti’s impoverished to AIDS and tuberculosis. Nancy Scheper-Hughes’s “The Global Traffic in Human Organs” (2000) argues that economic globalization has facilitated the creation of an extensive market for the illicit harvest and trade of human body parts. Within this market, impoverished populations are targeted by brokers who, with the help of surgeons, turn high profits by selling these human organs and tissues to wealthier consumers in the global North.

Phenomena like these, political economists assert, are associated with the advent of late-modern capitalism— now commonly called “neoliberal globalization.” Neoliberal globalization refers to the predominate theory of free market capitalism, which these analysts argue continues to be the primary engine of globalization. The term neoliberalism itself underscores an important element of the political economic argument—that globalization is a human-made and ideologically driven set of processes.

The focus on neoliberalism is also one manner in which scholars have come to conceptualize how the contemporary moment is fundamentally different from the past. The most clearly articulated and influential starting point for many scholars of this school of thought is David Harvey, a Marxist geographer who in his significant work The Condition of Postmodernity (1989) argued that economic restructuring and associated social and political changes in Western economies in the early 1970s sparked a fundamental reorganization of global commerce that sped up the turnover times of capital. These changes were characterized, according to Harvey, by an increasing sense of spatial attenuation and temporal acceleration in human economic and social relations. Harvey refered to this sensation as time-space compression , which was brought on by the collapse of significant geographic and temporal barriers to commerce. This collapse was a byproduct of an economic experiment promoted during a crisis of capital accumulation and subsequent recession that existing Keynesian fiscal and monetary policies could do little to stop. The experiment involved the transition from the Fordist model of standardized commodity production and its related system of political and social regulation (the dominant mode of capitalism since the end of World War II) to the post-Fordist model of flexible accumulation. The increased velocity and reach of market transactions this new regime of accumulation prompted were realized through substantial innovations in transport and information technologies. Harvey’s 2005 book, A Brief History of Neoliberalism, traces the neoliberal influence behind this shift, arguing that the transition was a political project intended to reinvigorate elite class power and capital accumulation mechanisms.

Perhaps the most recent and representative anthropological effort to further develop this perspective is Jean and John Comaroff’s “Millenial Capitalism: First Thoughts on a Second Coming” (2000). The Comaroffs argue that neoliberal globalization at the turn of the millennium is a process that alienates capital from labor and marshals consumption as the primary shaper of social and economic phenomena like popular civil society discourses, occult economies and religious movements, and global youth cultures.

Much of the anthropological literature on neoliberalism thus far has focused less on the logic and mechanisms of its production and administration (though this is increasingly a field of study, as some anthropologists turn their eyes to understanding the inner workings of institutions like the WTO, IMF, and World Bank), and more on the impact of, and resistances to, neoliberal globalization. June Nash’s Mayan Visions: The Quest for Autonomy in an Age of Globalization (2001) is a representative ethnography of this focus, as is Jeffrey Juris’s Networking Futures: The Movements Against Corporate Globalization (2008).

A second approach to globalization, coming to prominence in the early 1990s, places greater emphasis on anthropology’s most common focus of attention: culture. (See Kearney, 1995, for an excellent summary of perspectives during the early 1990s.) Many proponents of this cultural approach, while acknowledging the world’s deep history of social interaction, tend to stress the fundamental newness of the present, going so far as to describe a new global era. One of these proponents, Arjun Appadurai, writes a radical reply to center-periphery models of political economy and proposes that any framework emphasizing order in the present globalizing world is deluded. Appadurai’s Modernity at Large (1996) understands the new global era as having been brought about by a complex and rapidly changing global cultural economy of exchange. The birth of this new era was facilitated by phenomena like media and migration, and both of these have served to reorganize nationstates and mobility on a global scale. Appadurai proposes that this chaotic world be grasped through five dimensions he calls scapes, or the landscapes across which cultural flows travel: ethnoscapes, mediascapes, technoscapes, financescapes, and ideoscapes. These scapes overlap to constitute the particular lifeworlds of individuals across the world—each lifeworld being wholly individualized. In short, Appadurai posits a disorganized, centerless world in which no single view yields any grasp of larger processes—the ubiquitous flows of ideas, technologies, objects, and images constituting the global cultural economy are nonisomorphic and indeterminate.

A perspective similar to Appadurai’s, and borrowing from Ernesto Laclau, is that of Inda and Rosaldo (2008), who describe the contemporary world as “dislocated.” The use of this term is intended to emphasize that a plurality of centers serve as the hubs of cultural traffic across the globe. This perspective, as well as Appadurai’s, draws on ethnographic examinations of movements of commodities, people, and images and how these movements are perceived, translated, or appropriated by specific groups with whom they come into contact. At first glance, such movements suggest a significant imbalance in international exchange between the global North and South. Indeed, many Western, and indeed American, products like CocaCola, McDonald’s, and films are promptly visible in a variety of contexts far from Europe and North America. It is from these and other observations that analysts have often come to consider cultural imperialism as a force of homogenization that levels cultural difference throughout the world (see Tomlinson, 1991).

Yet cultural homogenization assumes that the essential meaning of a commodity or idea is consistent and universally legible—meaning that, for example, a Sri Lankan teenager will interpret an Indiana Jones film the same way a German teenager might. Subsequently, it could be inferred that the circulation of Western commodities or ideas will have predictable local effects. Anthropologists argue that there is little inevitability in such exchanges. Rather, a consumer applies her or his own cultural perspectives to the interpretation of objects and ideas, culturally tailoring them in the process. Laura Bohannan (1966) discovered as much in the 1960s when she observed a West African production, and subsequent interpretation, of Shakespeare’s Hamlet. Liebes and Katz’s The Export of Meaning: Cross-Cultural Readings of Dallas (1990) is a modern retelling of Bohannan’s experience, demonstrating how the popular American television program Dallas was quite variously received among Moroccan Jews, Russian Jews, and Arabs.

The cultural tailoring described above has, in many instances, become a rather common element of cultural interaction across the world, especially in light of myriad technological advances and their ability to radically compress time and space (see Harvey, 1989). Due to this, many researchers have come to see culture as less stabilized and more diffuse, going so far as to claim that globalization has “deterritorialized” culture.

As argued earlier, many anthropologists have historically mapped culture onto territorially demarcated places, understanding distinctiveness as a product of social structures within supposedly locally bounded spheres. Said differently, place was the container of culture. (For example, the nation-state of China contained “Chinese culture.”) Gupta and Ferguson rebuke these analyses and call for anthropologists to examine how such conceptions produce difference and reinforce unequal relations of power. They further argue that cultural forms cannot be conceptualized as being fastened to specific geographic locations. Rather, the contemporary world is characterized by the freeing of culture from specific localities, and the notion of deterritorialization captures this process.

Deterritorialization also stresses the tension central to the commonly articulated local/global dichotomy. Indeed, as individuals and groups engage with and are shaped by processes that connect their local worlds with others, cultural forms can come to have an impact regardless of whether they originate in the global North or South. Thus, the significance of non-Western cultural forms circulating in contexts outside of their origins should not be underestimated. Examples of this are everywhere visible, from the ethnic cuisine consumed in the global North, to popularly imported and exported religious beliefs like Buddhism, to non-Western modes of dress like headscarves that have engendered much debate in some European countries. This is due to the fact that while cultural forms become unfastened from one locality, they simultaneously fasten themselves to new contexts and can become highly relevant. Anthropologists cite examples like these to suggest that cultural and even political-economic exchange between the North and South can be mutually significant, or “relational” in its character. Hannerz (1996), borrowing from linguistics, referred to this relationality as the “creolization” of the core and periphery.

Further examples of this exchange are human migration and trafficking, which have left many culturally uprooted peoples “reterritorialized” in foreign lands where they navigate new ways of living with aspects of their cultural identity they have carried with them. Analysts often refer to such individuals and groups as transnational, as they move across and between national boundaries. At times, the connections between these “old” and “new” communities are so strong that anthropologists have argued they should be understood as single communities scattered in multiple localities.

Ultimately, the arguments and examples outlined above suggest that the world be viewed as a complex global society composed of interweaving cultural, political, and economic processes and forms. This is not to suggest that globalization engenders a homogenous global population, but rather to recognize the untethered nature and intensified potential of interactions between populations. Anthropologists argue that only continued heterogeneity within this global society can be assumed.

Of course, the discipline has been careful not to assume that movements are experienced by all peoples, things, and ideas or that all experience movements in the same way.

Indeed, many have argued that such processes have left areas and peoples excluded and marginalized. David Graeber (2002) made the point that processes of economic globalization like the North American Free Trade Agreement (NAFTA) have in fact tightened many national borders, and he cited numbers suggesting that since NAFTA’s inception in 1992, the number of guards along the border between the United States and Mexico has more than tripled. Moreover, anthropologists like Escobar (2001) have argued that too great a focus on the deterritorialization of culture can obscure processes of place making, as well as the fact that people continue to imagine and build cultural forms that are situated in specific localities.

As intimated earlier, the anthropological commitment to fieldwork has led many researchers to avoid nonempirical assumptions as to what globalization might be or what effects it might engender. Subsequently, the concept of globalization has been disputed by some anthropologists frustrated with its imprecise and assumptive nature. This view is summarized by Cooper (2005), who separates “global” from its affix “ization” to call attention to the term’s problematic insinuations.

The first of these pertains to the scale of globalization— namely, that it is singular and worldwide, that it is something that encompasses the earth. Cooper argues that empirical truths about the world do not reflect the notion of global interconnection. Indeed, vast stretches of the planet, most notably in sub-Saharan Africa, remain largely disconnected from the wider world. As Ferguson (2006) has noted, movements of commodities, images, and ideas tend to hop over these geographic expanses, rather than smoothly envelop them. Equally problematic, according to Cooper, is the fact that a process that is global is everywhere and immeasurable, and therefore of little analytic value.

Second, the affix suggests the “when” of globalization— that it is currently happening, that this is the “global era.” Cooper contends that one must be cautious in asserting that such mobilizations and exchanges are historically novel—or an original product of a contemporary global framework. Such an assertion ignores the fact that massive labor migrations (forced or otherwise) in the past engendered the diverse cultures with which we currently identify. In fact, Cooper has argued that movements of laborers in the 19th century were in fact more substantial than those of the present day. It is therefore more accurately stated that human mobility and interaction have been processes long defining cultures across the globe, though contemporary movements of people continue to create novel cultural dynamics and milieus. Similarly, Tsing (2000) has asserted that theories contending the absolute newness of a global era tend to obscure historical happenings that offer insight into both the past and present.

These analysts call attention to the fact that, due to its magnitude, globalization is a concept that must be imagined rather than directly experienced. Yet this is not to suggest that a singular system is out there—that it is simply a matter of lacking the proper tools to see it in its entirety. A metaphor commonly invoked to describe globalization imagines several blind men examining the extremities of an elephant. One man touches the trunk, another a tusk. Several stroke the elephant’s legs. Each man will argue that he knows what the elephant is, or how the elephant in its entirety appears. Yet due to the size of the elephant and the sensory limitations of the men, none has the ability to know it fully. The problem with this metaphor is that it assumes a singular entity—the elephant—or a coherent framework that one claims to know is there but cannot fully experience. The consensus among critical anthropologists like Cooper and Tsing disputes this, arguing that globalization is an analytic construct, not a coherent world-making system. Moreover, they argue that collecting the variety of exchanges shaping relationships in the world under a single moniker makes for an inadequate analytic category, for it fails to capture the specific mechanisms of interconnection and the histories in which they are embedded. This is a view that rejects a singular world-making system in favor of a pluralization and inconsistency of agendas, projects, and processes. These international projects may be grand in scale, but they are not uniformly consistent or all encompassing. They vary according to the terms of their creation as well as their sites of origin.

These anthropologists call for examining globalization from a critical distance, paying attention to the arguments and mechanisms by which theories of globalization are mobilized. One example of this would be to challenge the exclusively celebratory espousals of globalization—what is often referred to as the “globalist” perspective—that, through popular media information, attempt to influence ideas of wealth and mobility. The power in this information lies in its ability to reproduce a specific logic that many globalist pundits advance—that of globalization’s huge potentiality. This can be misleading, however, as the life of a farmer or laborer in the global South may be so socially and economically constrained as to prevent her from traveling to the closest major city, much less jet-set about the world.

Moreover, the critical distance approach is especially important in light of the fact that influential discourses defining globalization inform the decisions of the world’s powerbrokers, especially transnational governing bodies like the World Bank, IMF, and WTO, as well as powerful nations whose leaders read popular political pundits. It is important to emphasize here that talk about difference can move quickly about the world, mobilizing individuals and institutions to act upon it for the purposes of security, economic profit, stability, and other aspirations. In this sense, talk about globalization, when wielded by actors embedded in complex relations of power, can have very real effects in people’s everyday lives.

By way of example, a number of recent dialogues in North American academic and public circles have focused less on the homogenization of culture (or cultural imperialism) and more on cultural difference, while maintaining that a more or less singular global framework brings about foreseeable effects. This talk articulates a gray zone between globalization’s positive and negative consequences, sketching a context in which cultural heterogeneity and increasing global mobility create both opportunity and threat. These claims to know a singular global system can have powerful effects. On the one hand, recent national best sellers by popular political pundits hail globalization as a force that flattens the world, creating an even playing field for those “willing” to participate. They inform international policy at the World Economic Forum and chastise governments resisting privatization and deregulation of large industries. On the other hand, these works instill a sense of fear in the post–9/11 world, as many nations and groups are depicted as foils to global connection—their own development complicated by dated cultural beliefs and traditions that ultimately threaten to violently derail the future. Thus, while globalization has brought us closer to allies, it has also compressed the world in such a way as to make it more vulnerable to conflict and resistance. Ultimately, these are fears of difference in which cultural heterogeneity, rather than the worldwide “McDonaldization” of societies, is emphasized.

A number of anthropologists have felt compelled to respond to these conceptions of globalization. Besteman and Gusterson’s Why America’s Top Pundits Are Wrong: Anthropologists Talk Back (2005), for example, takes its inspiration from public anthropologists like Boas and Mead and wields an anthropological sensibility with ethnographic evidence to challenge the destructive myths of America’s most popular pundits writing about globalization. The volume’s chapters are written in clear and compelling language, and are thus geared toward a general audience.

Finally, some anthropologists have cast a critical eye on the theoretical underpinnings of anthropological approaches to globalization, calling attention to the problematic gendering of epistemologies attempting to capture large-scale social change. Freeman’s “Is Local: Global as Feminine: Masculine?” (2001) provocatively examines the implications of the partition of masculine macro theories of globalization (which largely ignore gender) and ethnographic approaches to globalization emphasizing locality and gender.

Globalization is a term that has, in many instances, come to replace the older and no less complex notion of “development.” In fact, Edelman and Haugerud (2005) have argued that globalization has replaced the term development as the new action word of contemporary international governance discourse. Not simply a term that describes an inevitable process that is shaping the modern world, globalization, when conflated with development, is a metapolicy guiding the way to social and economic well-being in the global South.

The replacement of development by globalization is also evident in South American contexts like Venezuela and Bolivia, where supposed antiglobalization social movements and nationalization policies have been viewed by many Northern countries and transnational organizations as detrimental to international peace and global economic stability. In contrast, these Northern governing bodies espouse state-led implementation of globalizationfriendly principles for the sake of individual nations’ prosperity, as well as prosperity for the world. Thus, it is by ultimately opening up borders and financially connecting to the wider world that nations soar themselves out of poverty and into the global marketplace, developing in the process.

The two most influential anthropological works on development, Ferguson’s The Anti-Politics Machine (1994) and Escobar’s Encountering Development (1994), challenge this widespread thinking. Ferguson argued that in fact such development schemes usually fail and in the process further embed countries in the exploitative systems that were intended to help them. Ferguson also faulted these schemes for overlooking the social and historical specificities of countries and favoring techomanagerial solutions that are generally applicable to all “developing” countries.

In his influential book, Escobar attempted to denaturalize “development” by situating it in the political aftermath of World War II, when, in 1949, President Harry Truman argued for “developed” nations of the world to systematically restructure the global South, reconfiguring the world in the image of “advanced” nations. Following

Walt Whitman Rostow and his work The Stages of Economic Growth (1960), many policymakers and social scientists in the years following Truman’s speech came to view development as the establishment of preconditions for the “take off ” from traditionality to modernity. Escobar examined how this language and categorization of development problems becomes the official knowledge of international development experts and how this expertise subsequently becomes unanchored to any political, cultural, or historical context. He ultimately argued that this categorization, or naming, of peoples and places as objects of development interventions has devastating material effects: Targeted “underdeveloped” communities are often left worse off than they were prior to the intervention, and in addition, increasingly reliant of foreign aid.

To what extent can it be said that recent transformations have changed how states govern and with what efficacy? Globalist claims have often declared the demise of the state with the dissolving of national borders and the rise of international governing institutions like the WTO, World Bank, and IMF. Yet, as Tsing (2000) noted, this idea assumes that nationstates have been historically consistent and omnipresent.

There is little doubt that the development of international law and institutions upholding it have changed the means by which many states govern their populations. However, proclamations of the global dissolving of nationstates are exaggerated, according to anthropologists. This does not mean that states have not changed at all. Indeed, contrary to the traditional doctrine of sovereignty, many states are now held accountable by international authorities and in many instances are forced to comply with their policies. The degree to which such states are actually constrained and reshaped by international institutions varies, of course, from context to context. (Merry’s 2006 overview of anthropology’s engagement with international law is instructive on the above points.) Thus, one could argue that the sovereignty of states in the present has been to a large degree reorganized, if not in many instances greatly circumscribed. Sharma and Gupta (2005), in their important volume The Anthropology of the State, argued that “sovereignty can no longer be seen as the sole purview or ‘right’ of the modern state but is, instead, partially disentangled from the nation-state and mapped onto supra-national and non-governmental organizations” (p. 7).

The shifting nature of governance and states at present comes to heavily bear on conceptions of citizenship within countries. Many anthropologists argue that globalization has reformulated many notions of and policies pertaining to citizenship. Ong (1999), for example, used the term flexible citizenship to grasp how individuals and groups deploy various strategies to evade, as well as profit from, various national regimes of citizenship. Ong argues that the elite, flexible Chinese citizens have discarded traditional notions of nationalism in favor of a “postnational ethos” that transcends national boundaries for the sake of participation in the global capitalist market.

When considering the various viewpoints outlined above, it is important to remember that anthropologists’ commitment to fieldwork and the empirical evidence it produces significantly informs their perception of the global. Said succinctly, where anthropologists work shapes their perspective on globalization. It is not surprising to find, then, that the most influential anthropologists working in sub-Saharan Africa talk of global disconnection, while many working in the metropolitan cities of India stress the interconnection brought about by a global cultural economy. Due to this, it should equally be stressed that every view of the global is always a view from somewhere. There is no perch from which an analyst can ascertain the world from an objective, comprehensive position.

Yet the contrasts in the above perspectives are highly positive in that they produce a creative tension that thwarts stagnation in favor of fresh approaches and directions for the study of globalization. One product of this tension has been an active emphasis on “studying up,” or turning a critical eye to national and international institutions and actors whose projects aim to influence social and economic change. The recent anthropological concentration on the predominate economic philosophy of the present—neoliberalism—is laudable in this regard. Important recent works—like Ong and Collier’s Global Assemblages (2005); Petryna, Lakoff, and Kleinman’s Global Pharmaceuticals (2006); and Fisher and Downey’s Frontiers of Capital (2006)—take states, transnational governing bodies like the World Bank and WTO, human rights NGOs, corporations, and even powerful individuals like the U.S. chairman of the Federal Reserve as objects of ethnographic analysis.

Furthermore, the means by which anthropologists go about examining these objects, as well as the way they write about them, is changing. The fact that anthropologists are increasingly turning their focus to the world’s powerbrokers means that they take the discourses and policies of these powerbrokers very seriously. This is all the more important because anthropologists tend to disagree with these discourses and policies and subsequently wish to dispute them. Yet in order to successfully dispute them, anthropologists must write for audiences outside of the discipline. Two works already mentioned, Why America’s Top Pundits Are Wrong and Global Shadows: Africa in the Neoliberal World Order, are prominent examples of this endeavor.

All told, the above discussion signals a much more general development in which anthropologists are increasingly seeking to bring their disciplinary perspective to bear on public discussions of globalization. Anthropology is one among many disciplines that can greatly contribute to this ongoing discussion.

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Essay on Globalization for Students and Children

500+ words essay on globalization.

Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade . By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade .

Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.

Get the huge list of more than 500 Essay Topics and Ideas

Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.

Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.

The quality of products improves due to Globalization. This is because manufacturers try to make products of high-quality. This is due to the pressure of intense competition. If the product is inferior, people can easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently. Most noteworthy, it is continuously increasing. Above all, it is a great blessing to trade. This is because it brings a lot of economic and social benefits to it.

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'A small seed of curiosity can grow and mature into a full-fledged thesis project'

Valerie Hu: Biology & Society

A&S Communications

Biology & Society Sunnyvale, Calif.

What is your main extracurricular activity and why is it important to you? 

When I came to Cornell, I knew I wanted to get involved in initiatives that aligned with my personal values of justice and mercy and served a community beyond the one on campus. I joined the Parole Preparation Project (now Cornell University Parole Initiative) and began working with an incarcerated person in preparation for a Parole Board hearing that determines whether he can be released on parole. Along with two other student volunteers, I liaised with community partners to establish a plan for re-entry, gathered various legal and medical documents for the parole packet, and met regularly with the parole applicant in a maximum-security correctional facility to practice for his hearing. Three and a half years later, I now consider the incarcerated applicant I work with not only a teammate and coworker, but also a friend. Through working together, we have found common ground in the pursuit of justice, the importance of family and the role of faith and prayer in guiding our lives. This year, I became a teaching assistant for the Cornell Prison Education Program, going to Auburn Correctional Facility once a week to teach incarcerated students within a French club and an anthropology course, which has allowed me to explore my interests in the intersection of education and incarceration. Due to Cornell’s resources and investment in community engagement, I had the unique opportunity to work within facilities that reveal the immense inequalities in America’s criminal legal system and to play a role in working toward a more equitable world.

What Cornell memory do you treasure the most?         

The Cornell memories I treasure the most are the evenings I’ve hosted potlucks or dinners with large groups of people at my apartment because they embody the best parts of my time at Cornell: community and bringing people together. I’ve invited close friends and acquaintances from my classes, faith community, work and clubs, many of whom do not know each other and otherwise wouldn’t cross paths, and new friendships have been formed. On these evenings, my kitchen and living room are full of conversations and laughter, and the area sometimes gets so warm because of the number of people that we have to open a window even in the winter, while we share food and discover unlikely common ground.

What are the most valuable skills you gained from your Arts & Sciences education?     

I learned how to critically examine the things I see and learn, rather than take them at face value and accept the status quo. I came into college accustomed to the type of learning that consisted of knowing facts and successfully regurgitating them on a test or essay. My eyes were opened to the beauty of academic discourse and debate in one of my first classes at Cornell. For each class topic, we read multiple scientific articles that built upon each other or disagreed with one another. As we discussed the strengths and weaknesses of each scientist’s research findings, I developed critical thinking and analysis skills. I learned not to take at face value every piece of information I am given within the context of a classroom, but gained the courage and confidence to challenge and critique other viewpoints while developing my own.    

What have you accomplished as a Cornell student that you are most proud of?

While working as an investigator at the public defender’s office in D.C., I wondered about a paradoxical observation I made: that people who have had negative experiences with the police seem to call the police a lot. At the beginning of my junior year, I had the opportunity to turn that curiosity into a semester-long research paper for Professor Joseph Margulies’ Crime and Punishment class. I began interviewing young people who have had negative encounters with law enforcement about times they have called the police. The class project evolved beyond the semester into an independent study, and eventually into my senior honors thesis. I’m most proud of my research because I learned that a small seed of curiosity can grow and mature into a full-fledged thesis project. Through my thesis, I’ve been able to combine my interests in social justice with academic pursuits, and I learned how to conduct research that has implications for public policy and social change.

Who or what influenced your Cornell education the most?     

Cru has undoubtedly influenced my Cornell education more than anything else. I came into college with an abundance of questions about meaning and purpose, both generally and personally. Through the Cru community, I have become close friends with people from so many more backgrounds, cultures, and life experiences than I thought possible. Together, we have wrestled with difficult and existential questions. The diverse set of friends offering input and encouragement has been invaluable to my growth, as I figure out who I am and why I’m here. We have also supported each other through some of the most challenging times of sorrow and loss that tested the strength and genuineness of our beliefs. The Cru community has taught me to be resilient in the face of difficulties and to find hope in something bigger than myself. I learned how to allow my personal values to fuel every pursuit —academic, extracurricular, spiritual and personal — and every moment of my life, from the biggest highlights to the utterly mundane.

Every year, our faculty nominate graduating Arts & Sciences students to be featured as part of our Extraordinary Journeys series.  Read more about the Class of 202 4.

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Netflix's NFL Games Through 2026 Set To Drive Explosive Subscriber, Ad Revenue Growth, Says Analyst

Netflix Inc. (NASDAQ:NFLX) is gearing up for a game-changing move that could significantly boost its subscriber base and ad revenue: the acquisition of rights to NFL games on Christmas Day from 2024 to 2026.

This bold step, coupled with the company’s successful ad tier growth and upcoming ad tech improvements, underscores Netflix’s commitment to diversifying its content offerings and expanding its reach in the competitive streaming market.

The Netflix Analyst

JPMorgan analyst Doug Anmuth reiterates an Overweight rating on Netflix stock, with a price target of $650.

Also Read: Netflix To Stream 2 NFL Christmas Day Games: Analyst Sees Strong Growth Potential

The Netflix Thesis

The company is making strategic moves that could significantly benefit investors, according to Anmuth. The company’s recent announcements indicate a positive outlook for the stock, with potential for growth in both subscriber numbers and ad revenue. They’re seen as positive drivers for future growth.

The NFL Games’ Streaming Potential

One of the key developments is Netflix’s acquisition of rights to NFL games on Christmas Day from 2024 to 2026. This move is expected to drive subscriber growth and increase ad revenue, as NFL games have a highly engaged global audience. Last year’s NFL Christmas games were among the top 25 most viewed TV programs in 2023, highlighting the potential of this partnership.

Ad Tier Supported By 40M MAUs

According to Anmuth, Netflix’s advertising tier is also performing well, with 40 million monthly active users (MAUs). This is at the high end of expectations and suggests strong interest in the ad-supported model. The ad tier comprises 40% or more of sign-ups in advertising markets, indicating its popularity among users. Additionally, ad tier members are highly engaged, with 70% or more viewing content for at least 10 hours per month.

Shifting Gears In Ad Tech Monetization

In terms of ad tech, Netflix is making improvements to its platform to drive more meaningful ad revenue in 2025. The company plans to create an in-house ad tech platform and expand its buying capabilities to include The Trade Desk (TTD), Google’s Display & Video 360, and Magnite, alongside Microsoft's Xandr, starting this summer. These developments should support deeper monetization of Netflix’s advertising inventory, the analyst says.

Investors should keep an eye on Netflix’s continued efforts to expand its ad-supported offerings and enhance its ad tech capabilities, as these could be key catalysts for the stock going forward.

NFLX Price Action: Netflix stock closed the day lower by 0.02% on Wednesday, at $613.52 a share.

Read Next: Netflix Says In-House Ad-Tech Coming: The Trade Desk And Magnite Shares Climb

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Bridging private equity’s value creation gap

For the past 40 years or so, private equity (PE) buyout managers largely invested capital in an environment of declining interest rates and escalating asset prices. During that period, they were able to rely on financial leverage, enhanced tax and debt structures, and increasing valuations on high-quality assets to generate outsize returns for investors and create value.

Times have changed , however. Since 2020, the cost of debt has increased and liquidity in debt markets is harder to access given current interest rates, asset valuations, and typical bank borrowing standards. Fund performance has suffered as a result: PE buyout entry multiples declined from 11.9 to 11.0 times EBITDA through the first nine months of 2023. 1 2024 Global Private Markets Review , McKinsey, March 2024.

Even as debt markets begin to bounce back, a new macroeconomic reality is setting in—one that requires more than just financial acumen to drive returns. Buyout managers now need to focus on operational value creation strategies for revenue growth, as well as margin expansion to offset compression of multiples and to deliver desired returns to investors.

Based on our years of research and experience working with a range of private-capital firms across the globe, we have identified two key principles to maximize operational value creation.

First, buyout managers should invest with operational value creation at the forefront . This means that in addition to strategic diligence, they should conduct operational diligence for new assets. Their focus should be on developing a rigorous, bespoke, and integrated approach to assessing top-line and operational efficiency. During the underwriting process, managers can also identify actions that could expand and improve EBITDA margins and growth rates during the holding period, identify the costs involved in this transformation, and create rough timelines to track the assets’ performance. And if they acquire the asset, the manager should: 1) clearly establish the value creation objectives before deal signing, 2) emphasize operational and top-line improvements after closing, and 3) pursue continual improvements in ways of working with portfolio companies. Meanwhile, for existing assets, the manager should ensure that the level of oversight and monitoring is closely aligned with the health of each asset.

Second, everyone should understand and have a hand in improving operations . Within the PE firm, the operating group and deal teams should work together to enable and hold portfolio companies accountable for the execution of the value creation plan. This begins with an explicit focus on “linking talent to value”—ensuring leaders with the right combination of skills and experience are in place and empowered to deliver the plan, improve internal processes, and build organizational capabilities.

In our experience, getting these two principles right can significantly improve PE fund performance. Our initial analysis of more than 100 PE funds with vintages after 2020 indicates that general partners that focus on creating value through asset operations achieve a higher internal rate of return—up to two to three percentage points higher, on average—compared with peers.

The case for operational efficiency

The ongoing macroeconomic uncertainty has made it difficult for buyout managers to achieve historical levels of returns in the PE buyout industry using old ways of value creation. 2 Overall, roughly two-thirds of the total return for buyout deals that were entered in 2010 or later, and exited 2021 or before, can be attributed to market multiple expansion and leverage. See 2024 Global Private Markets Review .   And it’s not going to get any easier anytime soon, for two reasons.

Higher-for-longer rates will trigger financing issues

The US Federal Reserve projects that the federal funds rate will remain around 4.5 percent through 2024, then potentially drop to about 3.0 percent by the end of 2026. 3 “Summary of economic projections,” Federal Reserve Board, December 13, 2023.   Yet, even if rates decline by 200 basis points over the next two years, they will still be higher than they were over the past four years when PE buyout deals were underwritten.

This could create issues with recapitalization or floating interest rate resets for a portfolio company’s standing debt. Consider that the average borrower takes a leveraged loan at an interest coverage ratio of about three times EBIDTA (or 3x). 4 The interest coverage ratio is an indicator of a borrower’s ability to service debt, or potential default risk.   With rising interest expenses and additional profitability headwinds, these coverage ratios could quickly fall below 2x and get close to or trip covenant triggers around 1x. In 2023, for example, the average leveraged loan in the healthcare and software industries was already at less than a 2x interest coverage ratio. 5 James Gelfer and Stephanie Rader, “What’s the worst that could happen? Default and recovery rates in private credit,” Goldman Sachs, April 20, 2023.   To avoid a covenant breach, or (if needed) increasing recapitalization capital available without equity paydown, managers will need to rely on operational efficiency to increase EBITDA.

Valuations are mismatched

If interest rates remain high, the most recent vintage of PE assets is likely to face valuation mismatches at exit, or extended hold periods until value can be realized. Moreover, valuation of PE assets has remained high relative to their public-market equivalents, partly a result of the natural lag in how these assets are marked to market. As the CEO of Harvard University’s endowment explained in Harvard’s 2023 annual report, it will likely take more time for private valuations to fully reflect market conditions due to the continued slowdown in exits and financing rounds. 6 Message from the CEO of Harvard Management Company, September 2023.

Adapting PE’s value creation approach

Operational efficiency isn’t a new concept in the PE world. We’ve previously written  about the strategic shift among firms, increasingly notable since 2018, moving from the historical “buy smart and hold” approach to one of “acquire, align on strategy, and improve operating performance.”

However, the role of operations in creating more value is no longer just a source of competitive advantage but a competitive necessity for managers. Let’s take a closer look at the two principles that can create operational efficiency.

Invest with operational value creation at the forefront

PE fund managers can improve the profitability and exit valuations of assets by having operations-related conversations up front.

Assessing new assets. Prior to acquiring an asset, PE managers typically conduct financial and strategic diligence to refine their understanding of a given market and the asset’s position in that market. They should also undertake operational diligence—if they are not already doing so—to develop a holistic view of the asset to inform their value creation agenda.

Operational diligence involves the detailed assessment of an asset’s operations, including identification of opportunities to improve margins or accelerate organic growth. A well-executed operational-diligence process can reveal or confirm which types of initiatives could generate top-line and efficiency-driven value, the estimated cash flow improvements these initiatives could generate, the approximate timing of any cash flow improvements, and the potential costs of such initiatives.

The results of an operational-diligence process can be advantageous in other ways, too. Managers can use the findings to create a compelling value creation plan, or a detailed memo summarizing the near-term improvement opportunities available in the current profit-and-loss statement, as well as potential opportunities for expansion into adjacencies or new markets. After this step is done, they should determine, in collaboration with their operating-group colleagues, whether they have the appropriate leaders in place to successfully implement the value creation plan.

These results can also help managers resolve any potential issues up front, prior to deal signing, which in turn could increase the likelihood of receiving investment committee approval for the acquisition. Managers also can share the diligence findings with co-investors and financiers to help boost their confidence in the investment and the associated value creation thesis.

It is crucial that managers have in-depth familiarity with company operations, since operational diligence is not just an analytical-sizing exercise. If they perform operational diligence well, they can ensure that the full value creation strategy and performance improvement opportunities are embedded in the annual operating plan and the longer-term three- to five-year plan of the portfolio company’s management team.

Assessing existing assets. When it comes to existing assets, a fundamental question for PE managers is how to continue to improve performance throughout the deal life cycle. Particularly in the current macroeconomic and geopolitical environment, where uncertainty reigns, managers should focus more—and more often—on directly monitoring assets and intervening when required. They can complement this monitoring with routine touchpoints with the CEO, CFO, and chief transformation officer (CTO) of individual assets to get updates on critical initiatives driving the value creation plan, along with ensuring their operating group has full access to each portfolio company’s financials. Few PE managers currently provide this level of transparency into their assets’ performance.

To effectively monitor existing assets, managers can use key performance indicators (KPIs) directly linked to the fund’s investment thesis. For instance, if the fund’s investment thesis is centered on the availability of inventory, they may rigorously track forecasts of supply and demand and order volumes. This way, they can identify and address issues with inventory early on. Some managers pull information directly from the enterprise resource planning systems in their portfolio companies to get full visibility into operations. Others have set up specific “transformation management offices” to support performance improvements in key assets and improve transparency on key initiatives.

We’ve seen managers adopt various approaches with assets that are on track to meet return hurdles. They have frequent discussions with the portfolio company’s management team, perform quarterly credit checks on key suppliers and customers to ensure stability of their extended operations, and do a detailed review of the portfolio company’s operations and financial performance two to three years into the hold period. Managers can therefore confirm whether the management team is delivering on their value creation plans and also identify any new opportunities associated with the well-performing assets.

If existing assets are underperforming or distressed, managers’ prompt interventions to improve operations in the near term, and improve revenue over the medium term, can determine whether they should continue to own the asset or reduce their equity position through a bankruptcy proceeding. One manager implemented a cash management program to monitor and improve the cash flow for an underperforming retail asset of a portfolio company. The approach helped the portfolio company overcome a peak cash flow crisis period, avoid tripping liquidity covenants in an asset-backed loan, and get the time needed for the asset’s long-term performance to improve.

Reassess internal operations and governance

In addition to operational improvements, managers should also assess their own operations and consider shifting to an operating model that encourages increased engagement between their team and the portfolio companies. They should cultivate a stable of trusted, experienced executives within the operating group. They should empower these executives to be equal collaborators with the deal team in determining the value available in the asset to be underwritten, developing an appropriate value creation strategy, and overseeing performance of the portfolio company’s management.

Shift to a ‘just right’ operating model for operating partners. The operating model through which buyout managers engage with portfolio companies should be “just right”—that is, aligned with the fund’s overall strategy, how the fund is structured, and who sets the strategic vision for each individual portfolio company.

There are two types of engagement operating models—consultative and directive. When choosing an operating model, firms should align their hiring and internal capabilities to support their operating norms, how they add value to their portfolio companies, and the desired relationship with the management team (exhibit).

Take the example of a traditional buyout manager that acquires good companies with good management teams. In such a case, the portfolio company’s management team is likely to already have a strategic vision for the asset. These managers may therefore choose a more consultative engagement approach (for instance, providing advice and support to the portfolio company for any board-related issues or other challenges).

For value- or operations-focused funds, the manager may have higher ownership in the strategic vision for the asset, so their initial goal should be to develop a management team that can deliver on a specific investment thesis. In this case, the support required by the portfolio company could be less specialized (for example, the manager helps in hiring the right talent for key functional areas), and more integrative, to ensure a successful end-to-end transformation for the asset. As such, a more directive or oversight-focused engagement operating model may be preferred.

Successful execution of these engagement models requires the operating group to have the right talent mix and experience levels. If the manager implements a “generalist” coverage model, for example, where the focus is on monitoring and overseeing portfolio companies, the operating group will need people with the ability (and experience) to support the management in end-to-end transformations. However, a different type of skill set is required if the manager chooses a “specialist” coverage model, where the focus is on providing functional guidance and expertise (leaving transformations to the portfolio company’s management teams). Larger and more mature operating groups frequently use a mix of both talent pools.

Empower the operating group. In the past, many buyout managers did not have operating teams, so they relied on the management teams in the portfolio companies to fully identify and implement the value creation plan while running the asset’s day-to-day operations. Over time, many top PE funds began to establish internal operating groups  to provide strategic direction, coaching, and support to their portfolio companies. The operating groups, however, tended to take a back seat to deal teams, largely because legacy mindsets and governance structures placed responsibility for the performance of an asset on the deal team. In our view, while the deal team needs to remain responsible and accountable for the deal, certain tasks can be delegated to the operating group.

Some managers give their operating group members seats on portfolio company boards, hiring authority for key executives, and even decision-making rights on certain value creation strategies within the portfolio. For optimal performance, these operating groups should have leaders with prior C-suite responsibility or commensurate accountability within the PE fund and experience executing cross-functional mandates and company transformations. Certain funds with a core commitment to portfolio value creation include the leader of the operating group on the investment committee. Less-experienced members of the operating group can have consultative arrangements or peer-to-peer relationships with key portfolio company leaders.

Since the main KPIs for operating teams are financial, it is critical that their leaders understand a buyout asset’s business model, financing, and general market dynamics. The operating group should also be involved in the deal during the diligence phase, and participate in the development of the value creation thesis as well as the underwriting process. Upon deal close, the operating team should be as empowered as the deal team to serve as stewards of the asset and resolve issues concerning company operations.

Some funds also are hiring CTOs  for their portfolio companies to steer them through large transformations. Similar to the CTO in any organization , they help the organization align on a common vision, translate strategy into concrete initiatives for better performance, and create a system of continuous improvement and growth for the employees. However, when deployed by the PE fund, the CTO also often serves as a bridge between the PE fund and the portfolio company and can serve as a plug-and-play executive to fill short-term gaps in the portfolio company management team. In many instances, the CTO is given signatory, and occasionally broader, functional responsibilities. In addition, their personal incentives can be aligned with the fund’s desired outcomes. For example, funds may tie an element of the CTO’s overall compensation to EBITDA improvement or the success of the transformation.

Bring best-of-breed capabilities to portfolio companies. Buyout managers can bring a range of compelling capabilities to their portfolio companies, especially to smaller and midmarket companies and their internal operating teams. Our conversations with industry stakeholders revealed that buyout managers’ skills can be particularly useful in the following three areas:

• Procurement. Portfolio companies can draw on a buyout manager’s long-established procurement processes, team, and negotiating support. For instance, managers often have prenegotiated rates with suppliers or group purchasing arrangements that portfolio companies can leverage to minimize their own procurement costs and reduce third-party spending.
• Executive talent. They can also capitalize on the diverse and robust network of top talent that buyout managers have likely cultivated over time, including homegrown leaders and ones found through executive search firms (both within and outside the PE industry).
• Partners. Similarly, they can work with the buyout manager’s roster of external experts, business partners, suppliers, and advisers to find the best solutions to their emerging business challenges (for instance, gaining access to offshore resources during a carve-out transaction).

Ongoing macroeconomic uncertainty is creating unprecedented times in the PE buyout industry. Managers should use this as an opportunity to redouble their efforts on creating operational improvements in their existing portfolio, as well as new assets. It won’t be easy to adapt and evolve value creation processes and practices, but managers that succeed have an opportunity to close the gap between the current state of value creation and historical returns and outperform their peers.

Jose Luis Blanco is a senior partner in McKinsey’s New York office, where Matthew Maloney is a partner; William Bundy is a partner in the Washington, DC, office; and Jason Phillips is a senior partner in the London office.

The authors wish to thank Louis Dufau and Bill Leigh for their contributions to this article.

This article was edited by Arshiya Khullar, an editor in McKinsey’s Gurugram office.

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