Homework 1: Evaluate the effects of globalization

The term globalization describes the increased mobility of goods, services, labor,

technology, and capital throughout the world. Although globalization is not a new

development, its pace has increased with the advent of new technologies that make it

easier for people to travel, communicate, and do business internationally as well as

with the recognition of countries around the world that open trade and investment

policies were beneficial for their economic growth.

Read the following paragraph and argue for or against globalization:

Given the economic dislocations and political challenges that arise with globalization

of business, many agree that globalization has done more harm than good. They

believe that governments need to be more involved in managing global market forces

to restore and stabilize economic systems and protect domestic jobs. Others claim

that financial crises occur regularly to correct market imbalances and that extensive

government involvement impedes market growth and the benefits that globalization

brings. Has globalization gone too far? Should governments enact legislation that

protects domestic industries from international competition?

Max length 1000 word