There are many views on whether or not globalization is good or bad. In my essay I will not give a definitive answer. The reason being is there is no one correct answer. What may be good for one country may not be good for another. Globalization faces the problem that it may be a blessing for one company or country, and a nightmare for another. I believe that globalization in its essence is a force for good. I believe that it is meant to create more revenues for companies and therefore create jobs. Creating jobs so that societies can thrive is a good thing…right?
Your immediate answer may be yes. But, think about this. When a corporation is looking at its bottom line, and they need to figure out a place to cut expenses, they will look at their costs that are the highest. In a lot of manufacturing companies it would be labor. In order to increase profit they will outsource these jobs to a country that can do the labor cheaper. While this is bad for the home country losing any number of jobs, for the company receiving the jobs it is good because they now have more sources of revenue for its people therefore increasing the well-being of its people.
Now there is the argument that globalization is good from the standpoint that companies have the opportunity to make their products or name recognizable worldwide. I would agree with this standpoint because allows companies to grow tremendously. Of course, there are two sides to every coin, and in this situation there are also pros and cons to the idea of globalization. So in order to give a correct answer on whether globalization is a force for good you must then ask what side you are on and what you stand to gain/lose from the deal.
In some cases I do believe that globalization helps societies, and of course there are other cases where I feel the other way. Globalization brings opportunities but it also brings risks, even when poverty falling overall there can be regional increases about which society needs to be concentered. Especially for the developing countries, with their potential lack of recourses for up to date legislation, it is important to remember that not everything that is legal is right. Legality is often only the ethical minimum.
Therefore where national standards are inadequate, the company would need to enforce their own higher standards and not take advantage of them. Business is part of our society and ethics has place in business as in any other part of social life. In some cases globalization can increase democracy. If the country in question does not want to adopt democracy then it won’t regardless of the influence of the new companies that have entered its markets. On the other hand there are other countries that are just the opposite, who embrace the thought of democracy. Globalization does allow us in some cases to solve political problems.
Of course in other cases the simple fact that globalization is occurring in this country does not “magically” solve all its problems. However, I will use one example in how globalization can improve a nations’ politics. Peru is a country that has embraced globalization and has benefited tremendously. Globalization is good for a country’s economy, politics, and most importantly for its people. Peru was once a third-world country ravaged with poverty, oppression, and a lack of education. Globalization has contributed to the reduction of poverty, increased literacy rate, and the liberation of women in Peru.
The effects of globalization can be recognized in Peru and all around the world, when technological knowledge is spread, free trade is encouraged, and political or social liberation is achieved. As you can see there is no right or wrong answer on whether globalization is good or bad. When asking this question one must consider the pros and cons and what country we are talking about. However, in my humble opinion, I do believe that globalization is a force for good because it allows other countries to develop not only fiscally, but also socially and politically.