Ethics of the Effects of Globalization

Globalization is the process by which a business or company becomes international or starts

to operate on an international level. Some economists recognize globalization as being in

the best interest of all states. While others believe that increasingly liberated trade and

global economic interaction is necessary in many ways. The negative effects of

globalization far outweigh and short term gains. It benefits the wealthy, which are but a

minority in comparison to the rest of the population, and leaves the impoverished ones out

of the loop. The gap between rich and poor is increasing worldwide; almost one-third of

the population of developing countries, 1.3 billion live in absolute poverty. Tight budgets,

competitive markets, downsized companies are aspects of globalization that are unfolding

on a canvas much broader than is generally appreciated. The unsteady flow of invisible

money running in and out of countries has our markets operating like roller coasters.

Globalization renders our government powerless and leaves them at the mercy of foreign

investors. It does not benefit the majority of the world’s population and is slowly growing

to increasingly deadly proportions. While globalization marks a move toward a more open

world-trading regime, it can also be linked to strains on sovereignty, worker’s rights, and

the environment.

Globalization is a concept with many differing definitions. Many see it as a process, which

entails the free movement of capital, goods, services and labor around the world. On the

surface, it seems not as doing any harm but more of a way of doing business in the world

today. For many major companies, going global is a matter of survival, and it means

radically changing the way they work.