Knowledge as a Tool to Exploit the Global Changes - Assignment Example

1. Knowledge as a tool to exploit the Change Change is the unmistakable fact of life that is often either not recognized in its entirety or misused for one’s own vested interests. The vast opportunities opened through the fast transforming global values and societal paradigms across the world need to be exploited to the wider welfare of the societies. Cross-cultural understanding and mutual respect must become the pillars of transforming societies. They should also be inherently adopted within the national policies and behavior of the people at large so as to promote peaceful co-existence and socio-economic growth of the nation. 2. Globalization Globalization has become an intrinsic part of contemporary social structure which needs to be understood for its wider ramifications on various spheres of human life.

Indeed, historical events have been great facilitators to understand the change. One, therefore, must make efforts to understand the complex nature of changing social values and adopt them in their lives so as to exploit them for one’s own personal and professional growth.3. The necessity of government control in economic reforms The current recessive trend in the American economy is often contributed to President Reagan’s market policies and liberalization. But it is important to note that deregulation of banks was the major factor that had promoted riskier business propositions.

It was during President Clinton’s administration that banks’ deregulation bill was passed. Hence, sub-prime loans of banks for housing had ultimately resulted in the collapse of the American economy. Thus, one can say that economic reforms must be accompanied by effective government control measures.