Essay: Globalization is good or bad?

Sample Essay

Globalization is considered as a modern economic trend and it is known as a collective approach in which the people of the world are combined and unified together in a single society that functions together. The different trends of globalization are technological, socio-cultural, political, economic and etc. The attitudes towards globalization are mixed and different individuals have different perceptions about this phenomenon. However, in a broader sense it can be said that globalization is a good phenomenon and individuals are getting richer because of this.

This phenomenon is spreading in the world and it allows individuals to collaborate with each other and because of this collaboration individuals, societies and economies are benefitting from it in both the short and the long run. It stresses on the core principles of international understanding and customers have more choice because of that (Stiglitz, 2007). Customers can attain quality goods at a cheaper rate and because of this their purchasing power is enhancing. Although globalization possess certain negatives but on a broader scale the positives of globalization are more than its negatives.

Economies are merging together, international trade is fostering, newer markets and players are entering which are benefitting the final customer and certain more reasons are there that easily depicts that globalization is a favourable phenomenon for our societies. That is the reason why one can conclude that because of mutual collaboration and understanding globalization is a beneficial approach in both the short and the long run. Countries and individuals should focus on this phenomenon to reap maximum benefits.

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