Essay on Globalization Is A Key Process

871 Words Dec 10th, 2015 4 Pages
Globalization is a key process that is occurring as a result of modernization, which has transformed our lives. It has brought both advantages and disadvantages to the world economy. Our lives have become more sophisticated and rapid. As the economies grow, so does the class gap and as a result of this, people are favored over the others. We see the idea of Social Darwinism repeat itself throughout history. This idea has propelled the world to progress toward the growing divide of the world citizen. While the rich bourgeoisie enjoy lavish lifestyle, the poor are forced to feed on minimum wage. “Globalization not only increases individual freedom, but also revitalizes cultures and cultural artifacts through foreign influences, technologies, and markets.” (1097). One example of the benefits of globalization is economic growth, many people have access to more resources. Factories have become more efficient and can operate in a wider market, companies have access to a broader array of consumers. Also, businesses have found ways to produce products efficiently and at a lower cost. In all, globalization has defined new ways to climb the corporate ladder and make a decent amount of money to live comfortably. Of course, with every new process, not everyone will benefit as much as they would hope or perceive to have. In reality, globalization has brought new methods of exploitation as well. These methods ensure that some products can be produced in large quantities while spending…

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