Globalization And Trade Help Save Us Time And Money Essay

797 Words Feb 11th, 2016 4 Pages
In today’s modern society, time is usually the most valuable commodity for anyone around the world. We are constantly complaining about how there are not enough hours in a day to do everything that is needed to be done. As we learn from Wheelan’s Naked Economics it is key to understand that Globalization and trade help save us time and money. It is claimed that trade makes us richer. Trading, again, saves time because we are able to use the time we would have to spend farming and hunting our own food, on other, more important ventures. With this knowledge, a world without trade, would be a continuous loop of running out of time. In addition to this, when countries specialize in one area of production, productivity increases. By trading with other countries, one resource for another, each party becomes richer since they now have a good they do not produce.
Another benefit to trade is that the cost of goods will decrease for consumers. When a company bases their factory outside of the United States, they often do so in order to produce at a lower cost. Since the shoes, or computers, or any good for that matter, is produced at a lower cost, the company can afford to lower its prices. Trade does not solely benefit American and the country’s consumers, however. Poor countries gain a lot from trade such as access to markets in the developing world, a road to a richer country and the potential to branch out. Trade gives these poor countries the opportunity to sell to a larger,…

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