Morris

AP Human Geography, 3A

8/23/16

Globalization Precis

Lisa Smith, author of the article “Globalization: Progress or Profiteering?”, compares the

good and bad sides to globalization, while trying to determine whether or not it is overall a good

or bad phenomenon. Foremost, the writer describes the definition of globalization, explaining it

as “the tendency of investment funds and businesses to move beyond domestic and

national markets to other markets around the globe, allowing them to become

interconnected with different markets.” What this means is that companies are functioning

from and offering service to many parts of the world, and they can therefore become part

the economies of other places. Secondly, Ms. Smith teaches about globalization based on

one’s point of view, because the concept affects very different people in very different ways.

Those who control transnational companies, such as CEOs, stockholders, and investors,

benefit from globalization, because expansion to new countries helps companies make lots

more money, but people working for companies just to make a living may lose their jobs to

people far, far away from them, who will work for much lower wages, in terrible conditions.

Lastly, the article explains the overall effects of globalization, which are the slow but

seemingly inevitable disappearance of the middle class and the facts that many low-wage

workers suffer but that the rich benefit from globalization. Ms. Lisa Smith wrote this article to

educate anybody about the effects of globalization and that the best way to overcome it is to

have, in her own words, “an educated, flexible, adaptable workforce.”

Works Cited
"Globalization: Progress Or Profiteering? | Investopedia." Investopedia. 28 Jan. 2007. Web. 23

Aug. 2016.