https://padlet.com/mrc1410/nrc04kvq62plvybx en-us 2021-10-22 16:30:05 UTC 2021-10-27 10:20:07 UTC hello@padlet.com https://padlet.net/icons/png/1f30e.png mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845519908 It is an on-going event, a phenomenon that has roots in the past, that continues to happen at present, and will continue to happen in the future. ]]> 2021-10-26 16:01:58 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845519908 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845523029 Through time, humanity’s progress in technology has revolutionized lives of people. Developments in the field of transportation, information and communication paved the way for globalization.]]> 2021-10-26 16:02:48 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845523029 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845528172

Globalization of goods 

Globalization of financial and capital markets 

Globalization of technology and communication 

Globalization of production 

]]> 2021-10-26 16:04:29 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845528172 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845529947 Globalization may have developed from internationalization, but these terms are not synonymous. Internationalization operates respective of national economic borders, while globalization is the removal of these borders, thereby creating one global market.]]> 2021-10-26 16:04:58 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845529947 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845531408 It is considered qualitative because of the kind of economic relations and not simply on the growth of economic activities. The change is essentially on the system not simply on the volume of goods produced and distributed and on the number of economic players involved.]]> 2021-10-26 16:05:19 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845531408 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845532488 The "organic system" pertains to the quality of systems and relations, which unfolds through extending transnational economic processes and economic relations to more and more countries and by deepening the economic interdependencies among them.]]> 2021-10-26 16:05:40 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845532488 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845533724 These economic relations may still exist in a globalized economy. While these may exist among nation-states, a bigger and freer market exists outside them.]]> 2021-10-26 16:06:02 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845533724 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845536523

Globalization 1.0 (from 1492-1800) 

Globalization 2.0 (1800-2000) 

Globalization 3.0 (2000-onwards) 

]]> 2021-10-26 16:06:54 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845536523 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845537289

For Gills and Thompson, globalization started from the time the Homo sapiens began to populate the world

For Frank and Gills, globalization can be traced back to the existence of the world-system (5, 000 years ago). They consider Silk Road, the land routes that connected Asia, Africa and Europe as proof of the existence of this ancient globalization

For Benczes,  the origin of modernity and globalization (16th Century) is the start of the long-distance trade

For Adam Smith, the technological and methodological developments introduced by the British Industrial Revolution overshadows all this

]]> 2021-10-26 16:07:09 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845537289 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845539085 To Friedman, this means the barriers that separate people all over the world are removed thereby giving them equal access to the resources of the world.]]> 2021-10-26 16:07:33 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845539085 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845540259

Fall of Berlin Wall 

Introduction of Netscape to the public  

Invention of Work Flow Software 

Outsourcing 

Offshoring 

Open-sourcing 

Insourcing  

Supply-chaining 

Informing 

Steroids 

]]> 2021-10-26 16:07:48 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845540259 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845545057 The fall of Berlin Wall marks the end of communism, since the establishment of the Berlin Wall divided Germany into two ideologically opposed nation-states: West Germany (capitalism) and East Germany (communism).]]> 2021-10-26 16:09:16 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845545057 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845545707

This brought the Internet alive by giving us the browser to display images and data stored on Web sites 

This also led to the massive overinvestment of billions of dollars in fiber-optic telecommunications cable 

]]> 2021-10-26 16:09:28 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845545707 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845546270 This enabled more people in more places to design, display, manage, and collaborate on business data pre­viously handled manually.  
With this, work started to flow within and between companies and continents faster than ever ]]> 2021-10-26 16:09:39 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845546270 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845547221 Neoliberalism refers to market-oriented reform policies, which  enhance the workings of free market capitalism. It is a system of thoughts that seeks to legitimize or justify the prevailing form of economic globalization.]]> 2021-10-26 16:09:57 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845547221 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845550454

free market -  this is based on supply and demand, free from government control 

free trade - a trade policy that does not restrict imports or exports

deregulation - the reduction or elimination of government power in a particular industry

privatization - occurs when a government-owned business, operation, or property becomes owned by a private, non-government party

]]> 2021-10-26 16:10:59 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845550454 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845552272

World Bank -  an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement 

International Monetary Fund -  an international organization that promotes global economic growth and financial stability, encourages international trade, and reduces poverty.

World Trade Organization -  an international institution that oversees the global trade rules among nations. 

]]> 2021-10-26 16:11:35 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845552272 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845558301  According to Joseph Stiglitz, economic globalization has failed to promote the greatest happiness of the greatest number of people due to the increasing inequality.]]> 2021-10-26 16:13:33 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845558301 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845569306 It is a multi-faceted process characterized by the compression of the world, enlargement of world communication and world market, intensification of social relations, and intensification of the consciousness of the world.]]> 2021-10-26 16:17:00 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845569306 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845695091 As an ideology, neoliberalism promotes the freedom of individuals, hence the free market, free trade, deregulation, and privatization. In contrast to communism, it emphasizes the value of economic freedom without the intervention of the state or government.]]> 2021-10-26 16:56:32 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845695091 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845790204 Economic globalization would not be possible without the policies that promotes the widespread international movement of goods, capital, services, technology and information. Neoliberalism aligns with this goal as it eliminates barriers like government intervention, while encouraging free trade and free market. These policies help increase global trade that will lead to more competition, which helps boost economies.]]> 2021-10-26 17:28:03 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845790204 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845791968 According to Stiglitz, Economic Globalization has failed to make the greatest amount of people happy. Economic globalization is predicated on the expectation that a worldwide free market economy will result in remarkable global affluence. Globalists claim that economic globalization will gradually benefit both rich and developing countries. It is true that the earth's flattening has benefited countries and peoples all over the world in various ways, but poverty and inequality continues to rise.]]> 2021-10-26 17:28:35 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1845791968 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1847526153

Technological advancements 

Information dissemination

Cheaper goods

Acceleration of development process

Gaining mutual trust 

]]> 2021-10-27 07:57:20 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1847526153 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1847530899

Exploitation of Developing Nations 

Tax Evasion 

Climate Change and Environmental Impacts 

Rising socioeconomic insecurity 

Encourage spread disease 

Labor exploitation may increase 

]]> 2021-10-27 07:59:37 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1847530899 mrc1410 https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1847770182 Through the removal of regional and national economic borders, the integration of the economies of the world continues into one global economy.]]> 2021-10-27 10:15:16 UTC https://padlet.com/mrc1410/nrc04kvq62plvybx/wish/1847770182