Effects of Globalization

Globalization means making certain ethical compromises. Globalization has led to several impacts including technological innovation and competitiveness in the global market. It has also led to the expansion of international trade and a higher standard of living (Anis, 2013). As a result of international trade due to globalization, world peace has also increased. After globalization, there was an increase in participatory democracy in the global government, with property rights and rule of law becoming a necessary precondition of the global economy’s participation.

The impacts of globalization have led to several ethical issues. The first ethical issue is that it has enables people to get cheaper services and products. This is achieved by paying someone else in another nation lesser than another person in a different country as a way of saving money (Arditi, 2004). This often means people in a particular country will lose their jobs because the jobs are less profitable and competitive and according to the industry. This also means that companies are likely to benefit most from the profits and reduced prices. Another major ethical issue brought about by globalization is that countries are now specializing in jobs that bring about more profits and abandon jobs that bring fewer profits (Ahmad, 2013). This is often referred to as the Law of Comparative Advantage in economics. Because a corporation is now more specialized, it abandons the industries and the people working in those industries end up losing their jobs.

There are several solutions to these ethical issues. Globalization needs to be inclusive on a global as much as on a local level. True globalization is full responsibility towards people. Globalization is the mobility of all kinds- of goods, capital, people, information, including social mobility (Anis, 2013). Countries need to come up with value-led and ethical forms of globalization that fulfill the objective of achieving responsible globalization which means profiting every individual in the world. They should also create a governance model that is grounded in specific formulated rules about globalization. These formulated rules should incorporate environmental and labor standards as well as arms control. The main goal of achieving ethical globalization should be for countries to act in the interest of the global community. This will ensure that the well-being of every person in the world is met as well as the interest of global ethics.

References

Ahmad, A. (2013). A global ethics for a globalized world. Policy Perspectives, 10(1), 63-77. https://www.jstor.org/journal/polipers

Anis, A. (2013). A Global Ethics for a Globalized World. Policy Perspectives, 10(1). https://search-proquest-com.proxy-library.ashford.edu/docview/1314522381?accountid=32521

Arditi, B. (2004). From globalism to globalization: the politics of resistance. New Political Science, 26(1), 5-22. https://doi-org.proxy-library.ashford.edu/10.1080/0739314042000185102