Globalization

Paper Summary:

This paper discusses the general characteristics of globalization and its primary drivers in the form of transportation systems, telecommunications and technology in the form of the Internet, computers, networks and applications. Globalization is examined vis-a-vis the funeral industry and how it has led to consolidation in this formerly family-owned dominated industry. Finally, some major trading blocs are listed with CAFTA and NAFTA being most relevant.

From the Paper:

"Globalization is the economic catchphrase of the 21st century. People use it to explain many things, but when asked to define it, the term often defies explanation. One source defines globalization as: "The integration of the world's culture, economy and infrastructure driven by the lowering of political barriers to transnational trade and investment and by the rapid proliferation of communication and information technologies. The term is often used in reference to the substantial impact of free-market forces on local, regional and national economies."(Globalization, 2005) The key points in the given definition would seem to be culture, economy and infrastructure, since globalization is often blamed or praised for caused phenomena within each of these areas. Culture, because globalization tends to blur delineations between them; economy because globalization appears to benefit the more efficient economies; and infrastructure because the mechanisms of communication, transportation and knowledge transfer facilitate it."

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