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The Impacts of Globalization

Using the working definition of the friction-less flow of capital, labor, information, and goods and services, it is evident that globalization features in many aspects of my daily life. Specifically, the widespread outsourcing of manufacturing jobs has provided many cheap products that I purchase. The increased ease of transportation and communication has allowed the free market to expand across the world. Some negative aspects of globalization is the distribution of the labor force into areas where there are not reputable labor laws. For example, it is cheaper to manufacture consumer goods in place that do not pay their workers sufficient living wages. This causes jobs to become scarce in more developed areas.

Globalization has impacted my near and extended family by the aforementioned availability of cheaper goods. Additionally, my family has benefited from the globalization of communications. With a large portion of my family being spread across the country, it is relatively easy to stay in touch.

I believe that globalization has been good for the US because of the increased interconnectedness of the world. Prior to the information age, the US was largely isolated and I believe that the globalization of the free market and communications has been a positive change.

-Keaton Paradeses

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