The paper "Technology in the Age of Globalization" is a wonderful example of a report on macro and microeconomics. The global economy is being transformed for the last three decades and served many purposes including the advancement of economies around the world aimed at the welfare of the common person. The latest developments in technology have supported the cause of this rapid transformation of the world economy and the process of globalization. For most of the countries around the world, issues of national technology policy are in fact inseparable from the transfer of technology, governance, and management.
As for the management of innovations in technology to support the process of advancements in globalization and sustaining them in the long term, particular mechanisms are essential to satisfy the different needs of every stakeholder. Several elements are essential for an autonomous approach to innovation management and technology transfer that take into account maintainability and environmental quality. Not only the support of technology is necessary for the process of globalization but the transfer of paradigms of autonomous management of innovation for achieving real sustainable development is also required.
The development of European science and technology partnerships with different developing countries is compulsory and the meticulous implementation of such partnerships is supportive of the process of globalization. (Burnside, C. 2001) Globalization and technology go side-by-side as globalization tends to unleash technology that in response drives organizations to plan sales and production on a global basis. Technology not only alters the working requirements but the jobs that are created by it require more training and education. It also alters the method of undertaking business operations by transforming associations among producers, suppliers, retailers, and customers.
(Joseph S. 2000) Survival is in fact the new worldwide business market call for increased competition and productivity. Those organizations that have improved their products by using technology delicately and hunted niche markets have prospered and survived. Globalization with the support of technology presents opportunities and challenges. Since the commencement of the industrial revolution back in the eighteenth century, newly introduced technology meant transferring professions from one segment to another, for instance from the agriculture sector to the farming tools, as well as creating eventually more jobs in society.
(Bordo, M. 2002)
Burnside, C. 2001. Prospective deficits and the Asian currency crisis. Journal of Political Economy 109 (December): 1155-97.
Bordo, M. 2002. Crises now and then: what lessons from the last era of financial globalization: NBER Working Paper 8716
Claessens. 2001. Corporate risk around the world. In Financial crises in emerging markets. Cambridge University Press.
Crockett. A. 2000. How should financial market regulators respond to the new challenges of global economic integration? Opportunities and challenges, 121-28, proceedings of a symposium sponsored by the Federal Reserve Bank of Kansas City.
Joseph S. 2000. Globalization of the economy. In the governance in a globalizing world. Brookings Institution Press.
Martin F. 2003. Financial policies and the prevention of financial crises in emerging market countries. in economic and financial crises in emerging market countries. University of Chicago Press.