mpThe subject of this paper will be Globalization, it"'"s affects on the world, and an analysis of whether it promotes Prosperity or on the contrary, Impoverishment. It will be analyzed in detail using multiple sources including but not limited to the Internet, textbooks, encyclopedias, and various other literature pertaining to the broad subject. The method of describing this global phenomenon will be objective and will encompass many perspectives. The final result should empower the reader to make his/her own opinions and judgments.
Globalization as defined in Charles Hall"'"s Textbook International Business '"'refers to the shift toward a more integrated and interdependent world economy'"'. This definition is incredibly vague considering the great depth to the topic, however through research of the material, a greater perception of the concept can be formed. National economies that were originally separated from other countries by barriers such as distance, time zones, government regulation, culture, and countless other differences are now interacting and trading. These differences are shrinking as technologies allow better transportation, communications, and more tolerant opinions towards different cultures and procedures. '"'National economies are merging into an interdependent global economic system'"' PG 4, Hall.
Groups produce goods that provide for people in their microcosm, be it their village, extended local area, or perhaps solely their family. Multiply this over the whole world and you get the world market. Now consider that some of the more technologically advanced groups create firms and can more efficiently produce certain items than other groups and firms. This creates ...