Unit Four Introduction

What are the origins of contemporary economic globalization?


Thousands of people march all over the world shouting slogans and clashing with police.
anti-globalization movement
a social, political, environmental, and economic movement by those who object to certain aspects of globalization

Although participants in this movement have various perspectives, they are united in opposition to large corporations and nations that they believe use economic and political power to exploit the poor at home and in the developing world, damage the environment, and/or threaten individual and collective culture and national sovereignty.
Anti-globalization protesters are angry! Why?

At the same time, others celebrate globalization as they eat at McDonalds, drink Coca-Cola, and shop at Wal-Mart, enjoying access to global goods.

When people talk about globalization, they usually think about the global economy. Economic globalization has a strong effect on people everywhere as they buy and sell resources, products, and services, including their own labour. Some huge corporations and powerful nations have reputations of exploiting the poor and marginalized.

Economic globalization did not just happen. In this unit you will explore the history of our global economic system.

This unit focuses on three issues:

  • What ideas led to globalization?
  • How does the global economy work?
  • Who should have more say in economic decision-making, individuals, national governments, or international organizations?

Reflect


Globalization is about trade, technology, and interconnectedness of people around the world.

  • Is it good for us?
  • Does it lead to prosperity for all people?
  • If it does lead to increased wealth, can that kind of growth be sustained or will it end at some point?

These are ideas that have been pondered by great minds and ordinary minds all over the world. On what were their ideas based?

In this unit, you will consider some theories about how wealth is created. Then, you can consider some challenges and opportunities that globalization presents.