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Chapter 9; globalization, inequality and development.docx

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University of Toronto Scarborough
Sheldon Ungar

Chapter 9 : Globalization, Inequality, and Development The creation of a Global village  The world today seems a lot smaller than 25 years ago, seems like now we’re creating a “global village”  It’s a lot more convenient to travel around the world today comparing to before, the availability of internet, credit card usage, banks etc made it possible. The Triumphs and Tragedies of Globalization  International telecommunications has become easy and inexpensive. (talk on skype freely)  # of international increased by 233 percent.  International trade and investment have increased rapidly and many more international organizations and agreements now span the globe.  However, globalization seems to make the world a more unequal place for us to live in. The distribution of wealth is very unequal between the rich and the poor, and between different countries. Some say globalization is a form of imperialism (domination of one country by another)  While globalization has transformed and improved many aspects of life, it is also generating opposition based on fear of growing inequality and the erosion of local cultures. Globalization in Everyday Life  Everything influences everything else in a globalized world.  Our actions have implications for people far away. A small investment made by us could be added together with other small investments and be used to change landscapes and construct buildings elsewhere, thus changing lives of many people. The Sources of Globalization  Technology: Technological progress has made it possible to move things and information over long distances quickly and inexpensively.  Politics: It is important in determining the level of globalization. South Korea has opened itself to the outside world since 1900s, thus its economic, and cultural integration is much greater. In contrast, North Korean preserves its authoritarian political system and communist economic system, thus remained isolated from the rest of the world.  Economics: Transnational corporations are also called multinational or international corporations - the most important agents of globalization in the world today. They are different from traditional corporations in 5 ways. 1. Traditional corporations rely on domestic labor and domestic production. Transnational corporations depend increasingly on foreign labor and production. 2. Traditional corporations extract natural resources or manufacture industrial goods. Transnational corporations increasingly emphasize skills and advances in design, technology and management. 3. Traditional corporations sell to domestic markets. Transnational corporations depend increasingly on world markets. 4. Traditional corporations rely on established marketing and sales outlets. Transnational corporations depend increasingly on massive advertising campaigns. 5. Traditional corporations work with or under national governments. Transnational corporations are increasingly autonomous from national governments. A World like the United States?  Globalization is homogenizing the world, making the whole world look like U.S. Many economic and financial institutions around the world now operate in roughly the same way.  American icons circle the planet: supermarkets, basketball, Hollywood, Disney characters, Coca-Cola, MTV, CNN, MacDonald’s and so on.  McDonaldization is a form of rationalization. It refers to the spread of the principles of fast-food restaurants, such as efficiency, predictability, and calculability, to all spheres of life.  Globalization sharpens some local differences , Glocalization, the simultaneous homogenization of some aspects of life and the strengthening of some local differences under the impact of globalization.  Those who see globalization merely as homogenization also ignore the regionalization which is the division of the world into different and often competing economic, political and cultural areas.  Basically, globalization’s impact is quite messy. It has generated much criticism and opposition, unleashing a growing anti-globalization movement. The History of Globalization  While international trade and travel took place thousands of years ago, and the pace of globalization since 1980 has been unprecedented, globalization on a wide scale really began 500 years ago in the era of discovery and colonization that preceded the growth of capitalism. Colonism involves the control of developing societies by more developed, powerful societies. Development and Underdevelopment  “Grosteque” what the UN calls the level of inequality worldwide.  It is hard to capture the extent of inequality between the richest of the rich and poorest of the poor because poor people sometimes live in rich countries and rich people live in poor countries thus the averages cancel each other out.  It makes more sense to examine income inequality among indivi
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