Impact of Globalization

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Globalization affects people from all around the world regardless of color, creed, nationality, or location. It does not move with the wind nor is it some mystical shifting of perspective. Although it seems to permeate the modern lifestyle more than ever before, it is certainly not a concept that simply came into existence out of the information age of cloud computing and smartphones; globalization, even a century before, began impacting the lives of our forefathers as people became more and more aware of varying cultures and points of view. This movement drives us today to consider what people with varying viewpoints may think of our way of living rather than simply considering our own perspective as a certainty. Globalization causes us to look outside our immediate surroundings, to ponder timeless truths, and search for opportunities where there once were none. Each person has a choice whether to join the movement or get lost in the distance. Globalization is change.

The modern movement as best understood in contemporary historical understanding began at the dawn of the industrial revolution. Men like Andrew Carnegie (1835-1919) built huge factories and hired workers to come and spend years of their lives toiling away on a single task. Such tasks came as the result of raw materials acquired from foreign lands in vast quantities and at bargain prices. With technological advancements, the producer was able to pass along their product to the consumer at the most reasonable prices while still maintaining high product quality. Even today in companies like Walmart founded in 1962 by Sam Walton (1918-1992), globalization continues to affect our world by driving demand and innovation in the pursuit of the best products available on the market.

The impact of globalization varies depending on the context. They are at once social and economic, personal and professional, profound truths and simple realities. As discussed above, the concept instills within us an urge to reconsider the way we view the world. Economically, globalization propels capitalism into the current warp speed we embrace today, continuously driven by technological advancements. It also guides us to understand the world is so much larger than our own backyard or even this Earth that we call home, ultimately inspiring us to search for profound truths concerning the true origins of our existence. Professional globalization makes it easier for us to network and coordinate in a world where geography is secondary to an Internet connection. The profound truths of a more greatly connected world allow us to pursue our interests to dizzying heights and connect with others of similar ideals more easily than ever, but capable minds ultimately conclude that opportunity waits for no one but the brave.

In the business world, the worldwide reduction of tariffs, the liberalization of markets, and the integration of economies lead educated investors to enjoy massive opportunities for profit. The elimination of tariffs at once removes the safety net for businesses and workers with a corner in the market in their home country. Such reductions set the playing ground equal for anyone with the capital to invest in and market their product, thereby making the world less predictable and more sensitive to advancements and fluctuations in the global markets. The effect is nearly Darwinian. These reductions in tariffs contribute to an overall market liberalization that avoids government regulations, privatizes existing government assets, and lowers tax rates for international businesses. Once a profitable business plan takes off, as long as it is willing to change with the times, it can be quite difficult to stop. The integration of economies leads to shared aspirations across various civilizations. As the markets ultimately move according to the whims and fears of people, situations arise where more people fear the same things. In the continuing plight of the Euro, for example, the crash of the Cyprus economy resounded in economies around the world. Mutual funds invested in Eurozone depreciated. Financial analysts wrung their hands in worry. In a world where even middle-class private citizens were subjected to having their bank accounts razed to save their country's economy, the entire developed world focused on every Tweet and news story coming out of the Mediterranean region on an hourly basis. In the economy, globalization leads to destabilization.

This aspect of staying intimately connected with world events provides the leading role in the dramatic development of globalization. Advances in technology allow us to instantaneously communicate and connect with the people and sources that most interest us. In spite of the potential to make money to be found on every corner of the Internet, there is also a corresponding call to deregulate access to information. People do not support the notion of paying for many forms of media; they would rather search for it for free through piracy or other subversive measures. The development of the Bitcoin, the world's first digital currency, also stimulates the imagination to consider how much more the world will be connected within a decade. The consequences of globalization for society and business firms are simply thrilling. Opportunities will abound on every corner for trained minds with the eyes to see them.

For developing countries and people on the outside of this movement, either by choice or by circumstance, globalization threatens livelihoods and time-established sensibilities by upheaving living patterns. It allows the rich to get richer without a mandate to care for the poor. In its weakest forms, it ignores the environment and creates world wars. For those fast enough to join the movement, however, it broadens our culture and enriches lives for the better.

Work Cited

Lynn, Matthew. "After Cyprus, Euro Zone Will Slip into Depression." MarketWatch. The Wall Street Journal, 27 Mar. 2013. Web. 16 Feb. 2014. <>.