Essays on Globalization Is Ultimately in the Best Interests of All Workers Literature review

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The paper 'Globalization Is Ultimately in the Best Interests of All Workers" is a good example of a management literature review.   Globalization refers to the process of enhanced cooperation and integration of various national economies. It also entails national economies getting more integrated and interrelated. Besides, globalization shows that people across the globe are more interrelated to each other as compared to the past. The phenomenon also indicates that the production of goods in certain parts of the globe is progressively available in other countries. It also explains that money and information flow faster than in the past.

Additionally, globalization shows explain the frequency of global travel, as well as increased global communication. Some of the benefits accruing from globalization include high free trade, enhanced capital flows, high labor movement, multinational firms’ development, more integration of world trade cycle, and improved communication and advanced transport, which successfully lessen obstacles between nations. Even though globalization has both benefits and costs, there are more advantages that globalization has on all workers. Therefore, this report explores some of the arguments supporting the fact that globalization is ultimately in the best interests of all employees. Arguments to support “ Globalization is ultimately in the best interests of all workers” To begin with, globalization is beneficial to all workers because it ensures enhanced standards of living.

Presently, there is an apparent development of transnational businesses due to the globalization of economies. This is evident in the way that people gradually increase the goods’ demand, and that companies expand their production to other states. According to the International Monetary Fund managing director, Michel Camdessus, there were increased revenues and standards of living in 1996, possibly because of increased employment in the world.

For instance, because of business interests from other nations and global companies, China has successfully promoted the earnings of the middle-class people. The country has increased payments and employment by favoring the creation of production areas for international companies. Additionally, as nations engage in trade and attraction of foreign investments, they get more income that the government can use in improving transportation and housing among other sectors. Moreover, the level of socio-political globalization tends to boost the value of human rights and democracy.

The free-market economy has led to the success of civil society and the consistent diminishing of bureaucratic authoritarianism in South East and East Asian states (World Bank, 2008). Secondly, it is true that globalization is beneficial to all workers, as it enhances social awareness among them. In addition to the initial definition, globalization refers to a process by which people, their activities, and ideas in various parts of the globe get integrated or integrated. The cultural extent of globalization develops mutual understanding and human interaction.

In the present global-wired service world, people can now see the way people work and live. In addition, globalization also boosts human rights and democracy by improving private citizens and workers’ power to determine commercial behavior. The extensive distribution of information through the internet, private groups, and individuals can express their criticism against corruption, graft, and poor quality goods, as well as other human rights infringements. For instance, unnamed employees and private citizens reported an apple supplier, Foxconn for unfavorable working conditions, and since then, the company has ensured safe and favorable working conditions for its employees (World Bank, 2008).

References

Cherunilam, F. (2008). International Economics. New Delhi: Tata McGraw-Hill. Pp. 89-100.

Elliott, K. (2003). Can labor standards improve under globalization. Washington, DC: Institute for International Economics. Pp. 1-20.

Kremer, M. & Maskin, E. (2006). Globalization and Inequality. Department of Economics, Harvard University. Pp. 1-32.

Tanzi, V. (2004). Globalization and the need for fiscal reform in developing countries. Buenos Aires Washington, D.C: Institute for the Integration of Latin America and the Caribbean IDB-INTAL Inter-American Development Bank, Integration and Regional Programs Dept. Pp. 3-5.

Weinstein, M.M. (2005). Globalization: what's new. New York, NY: Columbia University Press. Pp. 60-70.

World Bank (2008). World development indicators. Washington, D.C: World Bank Publications. Pp. 323-340.

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