Different Levels Of Globalization example essay topic

America and its economy have gone through many different levels of Globalization. In the 1990's the American economy rebounded with its corporation becoming the key players in crucial industries. The economies once seen as the principal threats to America's position began to lose there footing. The reason for the turnaround has been subject of much debate and disagreement among economists and business leaders. Some point to the lighter hand of government and labor unions in the United States, some point to stronger entrepreneurial tradition here, and still others credit the existence of freer markets, but all seem to agree that American corporations were better positioned to succeed in the new global economy that blossomed in the 1990's. The most important characteristic of this new global economy is the integration of much of the world into a single market and production system. U.S. corporations and foreign ones, as well have been growing larger through mergers and acquisitions.

Even the largest companies have learned that size matters in the battle for global market share, whether in banking, media / entertainment, telecommunications, pharmaceuticals and software / internet. The dynamism of the American economy in the 1990's had several effects that were politically consequential. On one hand, the steady economic growth, low inflation and heady stock market performance of that period helped fuel an impressive rate of job creation, low levels of unemployment, and heightened consumer confidence. On the other hand, the new global economy is one in which certain skills are highly sought after and rewarded for example filmmakers, software engineers and business strategists, while others are not like service workers. This may be why a booming economy in the 1990's did not diminish income inequality in the United States. The heady 1990's were followed in 2001 and 2002 by three developments that threatened the pace of globalization: economic recession in the United States; declining trust in the honesty and accuracy of corporate financial reports in the United States; and terrorism.

Recessions are part of the business cycle, of course, so no one should have been surprised that one eventually happened in 2001-2002 after the longest economic expansion in American history. Especially troubling about this particular recession, however, was the poor performance of the former stars of economic expansion: dot-com, high-tech, and telecommunications companies. In such an environment, many of the activities that are central to globalization include investment in overseas facilities, expanding information technology / telecommunications networks, buying securities in diverse markets, and building transportation infrastructure. Through no one is entirely confident about predicting the future, it is probably safe to say that the business cycle will reverse at some point and that companies and investors (the wealthy) will be looking for financial opportunities again wherever they might find them. With global production, distribution, and sales infrastructures already in place, and with rich nations still committed to free trade, there is no reason to suppose that globalization will not take off again, through perhaps not at the same frenzied pace. It is probably also safe to say that the embarrassing disclosures of corporate financial chicanery on the part of companies such as Enron, Arthur Andersen, and WorldCom will eventually lead to a range of regulatory reforms that will restore some measure of confidence in the American investment climate.

At some point, this may restore investor confidence and enhance the overall performance of the American economy, which is, after all the engine of economic globalization. However, there is no predicting yet what the effects of terrorism and the response to terrorism will have on globalization. In one scenario, fear that radical Islamic terrorism will target western companies and their employees, suppliers and outlets might convince some companies to draw back from the world and confine themselves to business in the United States. In another scenario, American companies will continue to operate and even expand their activities abroad, either because the war on terrorism proves successful thus lessening the probability of terrorist attacks or because companies calculate that business necessity requires that they think global terms, no matter the risk. It is hard to imagine, for example, how companies such as McDonald's, Microsoft, Pepsi and AOL / Time Warner might remain profitable without worldwide operations. Only time will tell which scenario wins out.

The region in which you live in, social class, age, gender, education and political ideology all play an effect in how you view scenarios like the ones above. Regional differences have been reduced because of years of migration by southern blacks to northern cities. Still the North and the South have two different concerns. This therefore effects where they stand on social issues and economic issues. Social class is the positions you hold in society. Most everyone is in the "working class" and or the "middle class".

There are a few select people that make up the wealthy and it is those few people who control what happens in our society by making so called "best choices" for the "working class". The young and the old differ on certain matters that touch their particular interest like Medicare and the drinking age. Social change occurs by generational replacement. Old ideas like women should stay at home die off with the old people. Women and men differ on certain policy preferences. Women tend to be supportive of protective policies for the poor, the elderly, and the disabled.

They are opposed to violence whether by criminals or by the state. Interestingly the gender gap on issues like defense spending, the use of military force abroad, and a missile - defense shield disappeared in the wake of the terrorist attacks on the United States, as women shifted to a more defense - supportive position similar to that of men. The level of formal education is closely related to income level because education helps people earn more money. College-educated people are much more likely to say that they vote, talk about politics, go to meetings, sign petitions and write letters to officials than people who have attained only a high school education. Political ideology is made up of all these factors mixed together. Political Ideology is the body of ideas reflecting the social needs and aspirations of an individual, group, class, or culture.

Everyone has different opinions, backgrounds, and needs therefore creating diversity in our society. Diversity is what makes the world go round and keeps the nation growing.