Overview of Globalization and Development
Transformations of the Global Economic System
• Communication and Transportation
• Elimination of Trade Barriers
• Transnational Corporations
Development is a process of improvement in the material conditions of life.
• Spatial variation in terms of well-being, different levels of development (education,
wealth, healthcare), haves and have-nots
• Relative and absolute differences in quality of life and standard of living (level of
• Worlds System Theory is an explanatory framework of the measuring development.
Cores: representing the haves (well-off countries)
Periphery: representing the have-nots (not economically stable)
Globalization is the increasing interconnectedness of people and societies around the world.
• From textbook: actions or processes that involve the entire world and result in making
something worldwide in scope.
• Incorporated into a single world society: a global village
• A village is a place where everyone is connected to one another, where everyone gets
along, where everyone speaks the same language, same culture. Goods and services:
global shopping mall, global assembly line
Factors that change globalization: reducing the friction of distance, breaking down barriers,
extending the scope of business internationally. It is very proportional to accessibility and
Reducing the friction of distance
• Innovations in communication and transportation technologies. (internet, container
• Allows good services fro