Globalization And The Expansion Of Economic And Social Connections Among People And Organizations

1085 Words Dec 9th, 2014 5 Pages
“In the early 1800s, an estimated 80 percent of the world’s population lived on today’s equivalent of $1.50 a day or less. It took more than 150 years . . . to cut that share in half (the first time). The miracle is that mankind has managed to cut the ranks of the poor in half again, this time in a mere 25 years” (Griswold 2) But what is this miracle? How did we manage to achieve these astonishing results? The answer lies on the increase in globalization in recent years. Through the use of globalization and free trade, we have been able to create astonishing job increases, imports, and overall industrialization, especially in less-developed countries. Globalization drastically increased during and after World War II, with the creation of many international organizations to help spread “economic and political cooperation around the globe” (Unknown, “Globalization: Overview” 1). Simply put, “(g)lobalization is the creation and expansion of economic and social connections among people and organizations around the world” (Unknown, “Globalization: Overview” 1). It is why you see McDonalds in the U.S. and India and why you hear Miley Cyrus in Chile. But globalization not only brings bad music and fast food around the world. It also benefits the economy. For example, globalization creates millions of millions of jobs for impoverished people around the world. “(T)he World Bank calculates that 400 million people in less developed countries have already achieved an annual…

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