Is Economic Globalization a Positive Trend?

Paper Summary:

This paper analyzes the positive and negative aspects of economic globalization. It then explores specific traits related to the science of economics within the present world order in order to analyze whether globalization is a positive or negative trend. Among other aspects, the paper looks at examples of labor productivity and trade in terms of economic growth. It also compares the situation in third world countries with developed countries.

From the Paper:

"In conclusion, whether economic globalization is a positive or negative trend has yet to be discerned, but since its inception in the mid to late 1980's, globalization has unquestionably increased the economic well-being and growth of many countries, yet at the same time it has substantially decreased the ability of some nations to compete on a global scale. How all of this will turn out is anybody's guess, but with the passage of time and with constant vigilance on the part of economists and researchers, the outcome of globalization may surprise everyone and quite possibly will lead to a true global community made up of every nation on earth in which all will be able to share and benefit from economic prosperity well into the 21st century."

Sample of Sources Used:

• Bergsten, C. Fred. "The United States and the World Economy." The Internationalization of the American Economy. Beverly Hills, CA: Sage Publications, 1982.
• Haynes, Jeffrey. Globalization and the Third World. London: Routledge, 1998.
• Herman, Edward S. "The Threat of Globalization." Global Policy Forum. Internet. Winter 1999. Accessed September 7, 2007. http://www.globalpolicy.org/globaliz/define/hermantk.htm.
• Miller, Berna, Ed., et al. Developing Nations. Farmington Hills, MI: Greenhaven Press, 2003.
• Sjursen, Katie, Ed. Globalization. The Reference Shelf. Vol. 72 no. 5. New York: H.W. Wilson, 2000.

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