Essays on GLOBAL ECONOMY Essay

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Global Economy Karl Marx argued that economic globalization constituted the major form of globalization, which mainly centers on the harmonization of the global economy. Marx argued that globalization has the capacity to influence development at various levels such as regional, global, cultural, social, as well as political. These impacts have a bearing on global sustainability since there is easy flow of human resources, capital, and commodities between nations. In addition, global sustainability is achieved through the circulation of economic resources between nations as a result of which links among countries are strengthened.

Economic globalization serves to ensure that nations depend on each other; the means of production and the markets for the finished products are shared among nations. Through economic globalization, the integration between nations becomes possible. Marx argued that globalization is beneficial as it affects the forces of production and promotes the exchange of goods and services between nations (Collier et al 2002, p. 8). According to Marx, Capitalism can be regarded as a major factor that gave rise to globalization. This is because capitalism centers on the production of goods, which have to be sold to various markets across the globe.

Capitalists establish businesses all over the world where they market the finished products. In addition, capitalism centers on the use of cheap labor in producing goods and services. This means that employment in created in developing nations. This implies that connections will be created among nations and between different individuals across the world. As a result, global sustainability is achieved as the undeveloped world joins the developed world in reaping from the fruits of international trade exchange (Collier et al 2002, p. 10).

Despite the fact that capitalism contributes to global sustainability, it has negative implications that can destabilize the global economy. Marx argued that through capitalism, the market is not regulated as a result of which individual businesspeople become self-centered. There are few government regulations and restrictions in a capitalist system; this can lead to the production of substandard goods and services. In addition, Capitalism has over time been considered as exploitation of the poor with the sole aim of benefitting a few influential and rich individuals. For example, poor workers are exploited by being poorly remunerated. The arguments of Thomas Malthus can also form as the basis for the reconciliation of economic globalization with global sustainability.

Malthus mainly centered on demographic changes and the impacts that they have on sustainability of the world economy. Based on the ideas of Malthus, the spread of globalization meant that the world population would increase as a result of which the supply of resources would diminish, thus affecting the ability of the resources to sustain the population. According to Malthus, the increase in the world population can be termed as one of the benefits that emanates from globalization.

The exchange of resources and ideas meant that the ability of mankind to sustain himself and lengthen his lifespan would increase. Moreover, Malthus concentrated on the benefits derived from the spread of science and technology. Industrial revolution brought forth the advent of globalization as advanced tools and machines could be used in industries. In addition, during the agrarian revolution, globalization spread to most parts of the world since there was an increase in agricultural produce as a result of the discovery of agricultural machinery.

Economic globalization calls for the penetration of foreign industries in nations that are less developed.

With the increase in industries comes global warming, which results from production of raw materials into finished products.

This affects food supply, thus resulting to unsustainable development. The thoughts of Malthus support the notion that the world can no longer sustain the demand for resources to meet global economic needs (Collier et al 2002, p. 14). In his arguments, Darwin placed a lot of emphasis on the merger between nations as a result of globalization. This merger of nations has resulted to the creation of wealth that can be distributed between countries. The trade between nations, according to Darwin, has resulted to the exchange of goods and services as a result of which the countries involved gain a lot of benefits.

For instance, nations can get good that they do not produce in their home countries. The trade exchange also creates employment in countries where industries are established. This implies that global sustainability is achieved between nations as citizens get an income. Darwin also focuses on the ills that have resulted from globalization. Based on his research in the East African country of Tanzania, Darwin argues that the nation subjects its citizens to drug addiction, and other challenges while European countries benefit from the fish harvested in Lake Victoria.

This indicates how globalization can contribute to economic instability and different levels of development between nations. The introduction of Nile Perch in Lake Victoria for export has resulted to lack of adequate food for the locals. This has contributed to poverty in the region, which makes the local population experience problems such as HIV/AIDs and prostitution. These challenges can be attributed to the focus on international trade where fish is exported to Europe. Thus, Darwin condemns economic globalization as one of the factors that affects global sustainability.

While some nations can sustain their populations, others cannot because they do not reap the benefits of trade exchanges (Collier et al 2002, p. 18). References List Collier, P., Dollar, D., & World Bank. (2002). Globalization, growth, and poverty: Building an inclusive world economy. Washington, DC, World Bank. Pp. 5-20.

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