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Impact of Globalization on the Economy and Population of 1990s USA

In the late 20th Century, economic globalization transformed the United States.

Explain what globalization is and describe how it affected the US economy and population in the 1990s

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There are numerous definitions for globalization. It all depends on where you start:

Economics: globalization is the desire for borders between nations be erased in the interest of free trade. Open immigration, free trade and even a unified tax and currency system throughout the planet would lower transaction costs and bring capital to the regions that can employ it the best.

Michael Spense defines it this way: "Globalization is the process by which markets integrate worldwide. Over the past 60 years, it has accelerated steadily as new technologies and management expertise have reduced transportation and transaction costs and as tariffs and
other man-made barriers to international trade have been lowered"(Spence, 2011)

Assumptions of this concept: nationhood and identity are not good things; human beings are basically the same; local government and regulation is outdated, economics is the driver of good policy, ethics is efficiency. (Just to name a few).

Politics: globalization is the desire for a unified planet. Wars would cease if there were to be a single global government or a few regional governments under powerful hegemons. As trade brings people together, reasons to fight will become fewer and fewer. The world will be connected through computer-information networks that will offer opportunities to learn about each other and to end prejudices for other peoples. The world will be happier as a result.

Assumptions of this concept: wars exist because of ignorance and prejudice; nations are bad things; a global government would be responsive and not an oligarchy; a minimum of force would be used to impose it.

Ethical: Problems are not national or local, they are global. The only way to solve problems like pollution, population growth (or ...

Solution Summary

The following posting discusses the impact of globalization on the economy and population of 1990s USA.