• Trade regulations are regulated by the World Trade Organization (WTO).
• Globalization has been accelerated by the WTO, with both beneficial and negative consequences.
• The WTO's primary goal is to facilitate open dialogue among its members on trade issues.

"Rather than serving to flatten the degree of global equality, an AI-dominated future could well result in the greatest concentration of resources and power the world has ever known." (Wagner, 2018) 

• Artificial intelligence makes choices based on previously obtained data and a set of algorithms, therefore, mistakes are decreased and precision is increased.

• We can transcend many of our human limitations by creating an AI robot that can take our place.

• Using AI, we can have machines operate 24 hours a day, 7 days a week, without becoming exhausted and tired of repetitive work jobs.

• Artificial intelligence can be used to automate uninteresting chores and free up people to be more creative.

• A person will consider numerous things both emotionally and practically, while an AI-powered machine will focus on what is programmed and produce results quicker.

• AI is powering several innovations in almost every discipline, which will assist humans in solving the majority of complicated issues.

• If the newest AI app on your phone lacks sufficient data, it will offer poor results.

• Millions of gadgets run AI systems. If AI begins making incorrect judgments, it might cause bodily or financial damage to millions.

• Certain AI systems are classified as "black box" systems. The user has little to no comprehension of the AI's decision-making process. If the AI makes a bad forecast, performs a harmful action, or makes a mistake, diagnosing what went wrong might be difficult or impossible. This makes it difficult for individuals and businesses to trust AI with critical choices.

• Data is used by AI to make choices. That data may be biased. If so, an AI system may make judgments that bias against particular groups or individuals.

• It's hard to say how many jobs AI will eliminate. AI will generate and improve occupations much more than it will remove. The threat of widespread job loss and long-term unemployment is always present.

• Dramatically Increase in the Ability to Communicate and Collaborate
• Creation of a Brand-New “App Economy”
• Lower Barriers to Entry
• Ability to Better Utilize Excess Capacity

• Allows local, national, and global enterprises to contact prospective clients.
• Allows companies of all sizes to improve brand recognition and discover the most probable customers for their goods and services.
• Gives businesses a chance to publicize their activities.
• enables new economic and job-creating ecosystems
• Increases demand for mobile devices and Internet services that stimulates the economy.

• In politics, the Great Depression weakened faith in free-market capitalism. In other words, Herbert Hoover's laissez-faire economics didn't work.

• Destroyed much of the Midwest's agriculture. In addition, agricultural commodity prices plummeted to their lowest level since the American Civil War, further aggravating the situation Farmers who couldn't find work were forced to live on the streets.

• In 1928, the final year of the Roaring Twenties, unemployment was 4.2 percent. That's a lot lower than the normal rate of unemployed people in the economy.

• The stock market plummeted by 90% between 1929 and 1932. As a result, the general public has lost all confidence in the stock market. Businesses, institutions, and individual investors were all out of pocket as a result of the financial crisis.

•  Prices dropped by 30% between 1930 and 1932. However, while this helped lower-income customers, it had the opposite effect on farmers, businesses, and homeowners.
  
  _{Sources:
  https://www.thebalance.com/effects-of-the-great-depression-4049299
  https://www.britannica.com/event/stock-market-crash-of-1929}
  
  

• Mainframe computers were immediately adopted by academic and research institutes to compute input-output tables and the moments required to compute estimates with different predetermined econometric approaches.

• Computers have dramatically increased access to information around the world.  This greater availability of information is a contributing element to cultural homogeneity, which is a critical component of globalization, as well as a contributing factor to the rising interconnection of global communication.

• Computers have expanded global labor availability. The cost of data entry, customer service, and accounting in Third World countries is a fraction of that in First World countries. Every work outsourced to a foreign country means that a citizen of the outsourcing country loses their employment.

• Although scientific models have long been framed to accommodate computation limitations (e.g. quadratic functions on money models), new practices prompted by computerization, combined with new policy challenges and business demands, have profoundly changed the relationship between theory and practice. Calibrating, designing mechanisms, simulating, and modeling agents. Computerization has transformed the way models are built and what theory should produce. It has muddled the lines between two entities. Because models are not encoded but are conceptualized as computer programs, simulation does not match the theory/empirical separation. For example, simulation has been (re)conceived as a third way of performing research, and ideas and data can be placed on the same footing if considered parallels.

• help restore and sustain the benefits of global integration, by promoting international economic cooperation.
• ensuring the stability of the international financial system, and by helping individual countries take advantage of the investment opportunities offered by international capital markets while reducing their vulnerability to adverse shocks or changes in investor sentiment.
• increase the transparency of their financial and corporate sectors as a means to reduce financial abuse, such as money laundering and fraud, and ensure a level playing field for all investors.
• bring about a decisive reduction in world poverty, the efforts of poor countries must be matched by more comprehensive support from the international community.

• maintaining international peace and security, developing friendly relations among nations, and promoting social progress, better living standards, and human rights.
• develop friendly relations among nations;
• help nations work together to improve the lives of poor people, to conquer hunger, disease, and illiteracy, and to encourage respect for each other’s rights and freedoms

• According to the World Bank, countries in Central and Eastern Europe have seen substantial economic development, improving living standards, and the emergence of new personal and political freedoms in the recent past.
• It also represented the end of the economic and political rivalry between communism and capitalism with a decisive triumph for the latter, as well as the beginning of a decisive victory in the contest between the state and the market.

• Computers and the Internet contribute to Globalization by facilitating significant changes in the communication process, facilitating partnerships and economic exchanges across nations and nationalities.
• Social media platforms such as Twitter, Facebook, and Yahoo, which are used to engage with residents from other nations, have fundamentally altered how individuals behave globally.
• Due to the Internet and the World Wide Web, commerce is now performed on a worldwide scale, as distances have been significantly decreased.

• The greed factor and the desire for short-term profitability among multinational corporations and developed countries that rely on international institutions such as the International Monetary Fund (IMF) and World Bank 
• Capitalizing on the needs of developing countries and exploiting resources that are ultimately unsuitable for them. 
• It created volatility in the financial markets of countries like as Russia, Thailand, and Latin American countries as a consequence of the global institutions' one-sided strategy of utilizing poor nations as hunting grounds.

• Part of the criticisms of neoliberalism is the idea that markets and the profit motive are efficient and create a net benefit to society. However, there are markets that create positive externalities above its true cost. For instance, education and healthcare can cost the government billions but create external benefits in the form of healthier and more intelligent citizens.

• Neoliberalism promotes free trade and globalization, which can result in temporary job displacement. 

• One of the most common criticisms leveled at neoliberalism is its commitment to globalization. While globalization may be beneficial in the long run, it has created problems in the short term. 

• Neoliberalism may have ushered in an era of relatively free and rapid capital flows between countries. This has benefited a large number of people, particularly those in the developing world. However, it introduces instability by allowing those investments to exit as quickly and easily as they entered. 

• Neoliberalism's central argument is that government is inherently inefficient. It is inefficient in that it is incapable of going out of business.

• Neoliberalism is an ideology that promotes free markets and international trade. This entails removing trade barriers such as tariffs and quotas that increase the cost of goods. By lowering trade barriers, the consumer pays less than the import tariff dictates. 

• The goal of neoliberalism is to diminish the government's influence and role. This entails reduced government spending and the elimination of government departments. As a result, the need for such high levels of taxation is diminished. 

• With less regulation and taxation, it incentivizes businesses to invest – both foreign and domestic. This is because the benefits to the firm are significantly greater. Thus, if it earns an additional $1 million in profit, it can retain a greater portion of it than if taxes were doubled.