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Politics of Globalization: Gainers and Losers - Essay Example

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The writer of the present essay "Politics of Globalization: Gainers and Losers" would discuss the effects of the global economic recession and globalization have had on European households in comparison to the US households. The essay would argue the ide of globalization from both sides…
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Politics of Globalization: Gainers and Losers
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Download file to see previous pages This form of colonization is economic and drains the wealth of a poor country into that of the colonizer much in the way that was done by the erstwhile colonizers. There are thus, two sides to the debate and there are gainers and losers on both sides of the barrier. People who are for the idea of globalization may cite the fact that it has created more jobs in the economies of developing nations where it has helped set up new institutions and firms. This, they would argue, has helped in the creation of more wealth for people who were earlier not very well-off. They would also say that such a social churning has helped these people in many ways and this, according to them, would include a change in earlier unjust and unequal models of society. This would include the caste system as it existed in places like the Indian subcontinent where globalization has helped to introduce fresh perspectives and has also helped people of the downtrodden sections to get jobs whereby they would be able to reverse the trend whereby people of their class keep getting poorer and the others keep getting richer. An increase in the amount of wealth that circulates in the economy would mean that it has an opportunity to be distributed amongst the poorer sections of society. The distribution of wealth, in such a scenario, has to be readjusted to suit the new needs. This is exactly where people who oppose the phenomenon of globalization come in. They feel that the absence of such an equitable system of distribution of wealth has resulted in the lines of division deepening in the societies in which globalization has entered in a manner that they feel is entirely unscientific. They feel that the process of globalization is nothing but a way in which developed countries manage to outsource their work to developing countries where they receive labor at cheap prices. This money is then retrieved through business interests that the firms of the developed nations have in the poor nation. The jobs that are created in poorer nations and also in some cases, in developed nations, according to people who are against globalization, cause many to lose their jobs. It also causes, in many cases, great harm to the agriculture of a nation since the factories that are set up by MNCs often cause great damage to the ecosystems of a particular area that help sustain the farms of that place. 2 The effects that the phenomena of the global economic recession and globalization have had on European households differ greatly from the effects that the same phenomena have had on the US households. Many of these effects have been due to the fact that a great factor in the development of the global economic recession was the bursting of the housing bubble in America. This meant that the United States of America would remain the worst affected state in many ways. The burden of repairing the economy falls on the heads of the people who are part of it. Much of this revenue is obtained from the households of a country in the form of taxes that are levied on the people. These taxes can be levied on items that are sold in the country, the income of a person and also upon the services that are offered by the state to the individual and the household. In this manner, the effects of the crumbling economy trickled down to reach the households of both America and Europe. ...Download file to see next pagesRead More
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