| Globalization | | | | global economy. For the first time in history, the |
| In order to get a better understanding of the current | | | | entire world's economy is under the control of one |
| global economic issues that have led to the current | | | | system. |
| global recession we have to look at the history and | | | | Globalization |
| the overall impacts of these trends on our economic | | | | Globalization allows nations to produce what they do |
| health. | | | | best. If a country can cheaply manufacture steel, |
| Many critics have stepped out to say that | | | | another country can purchase that steel and |
| globalization has made the poor poorer and the rich | | | | concentrate on other markets that are better suited |
| richer. Actually there is compelling evidence that this | | | | for that country. |
| is, in fact the case. Take for example the U.S. | | | | One of the major downsides to globalization in this |
| economy right now. While the middle class is quickly | | | | country has been jobs loss. So many corporations |
| disappearing, there are more billionaires in this country | | | | have taken advantage of the tax incentives (yes, |
| than ever before. Some call it "recession" but in truth | | | | our government pays them to outsource) as well as |
| it is simply a transfer of wealth. | | | | the significantly cheaper labor. Other less fortunate |
| History | | | | countries pay a much higher prices however. In South |
| A global economy has been around for thousands of | | | | Africa, for example, a certain cola company that I will |
| years.. People have been traveling by sea to trade | | | | not name here has gone in and taken corporate |
| goods as early as they were able. In the Middle | | | | control of their clean drinking water. African children |
| Ages, traders would travel along the Silk Road | | | | drink more of the soda than water...because the soda |
| connecting China and Europe. | | | | is significantly less expensive. |
| During the late 18th century, the Industrial Revolution | | | | Moving Forward |
| brought with it faster production machines and steam | | | | So there are both economic and ethical problems |
| powered boats. Production and delivery could be | | | | associated with globalization and most believe it is a |
| done much faster than ever before. | | | | direct result of our current global economic issues. |
| After the 1980s, however, globalization really picked | | | | The best thing we can all do is to educate ourselves |
| up speed. Legislation such as NAFTA (North American | | | | and encourage others to do the same. Only through |
| Free Trade Agreement) and the formation of the | | | | knowledge can we truly become empowered. |
| WTO (World Trade Organization) really solidified a | | | | |