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Globalization: Darker Side

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What are some of the darker sides (in other words, costs) associated with globalization? How can business leaders make sure that the benefits of their various actions outweigh their costs? How is the middle class affected by globalization?

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This posting discusses the darker side of globalization and what business leaders can do to increase the benefits of globalization vis-s-vis its costs.

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There are several darker sides associated with globalization. These include disproportionate economic growth within and among nations. This means it increases inequality in income and wealth within nations and also inequality among nations. Also, globalization adversely affects local businesses, exploits cheap labor in less developed countries, and increases the chances of a global recession. Also, globalization can lead to environmental damage through greenhouse gas emissions, the introduction of viruses into new environments, and deforestation. From a different perspective globalization enriches the rich more than it benefits the poor, increases communication of infectious diseases, and reduces social support program (a), Globalization can also create a global political system where ...

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  • BSc, University of Calcutta
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