FINAL - Bhakta1 Dhara Bhakta Ms. Neely English 104-523 4...

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Bhakta1 Dhara Bhakta Ms. Neely English 104-523 4 April 2004 The Veiled Costs of Globalization It is claimed by pro-globalization that globalization is the solution to poverty; however, it only expands the hierarchical society gap of the rich and poor. Although it seems inevitable for globalization to be the epitome of worldwide success by opening up restrictive societies and creating more job opportunity, it is simply an infringement on the democratic rights of citizens and “[has] created the most dramatic increase in global inequality” (Jubasz 3). Free trade and foreign investments in developing countries rapidly benefit those in rich-income households while the poor regress; the inequality gap grows larger. Recent policies advocating economic globalization should be modified in order to reduce the concentration of wealth at the top and distribute it proportionally to the bottom. It has been argued that free trade, a product of globalization, improves the economic growth and reduces absolute poverty in developing countries. By alleviating the stress of high tariffs on imports, free trade solidifies a ground for the elimination of capital controls, thus allowing more monetary funding in society’s pockets. It is also assumed free trade indirectly reduces the probability of war which encourages interdependence between countries to keep their economies alive. Various cultures around the world evolve through hybridization with all external influences; anything to subvert this process such as placing a barrier on trade is suggested to deprive cultures of a
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Bhakta2 diverse positive influence. Free trade emphasizes the fact that every culture evolves and defines the support for cultural exchange. Supporters report globalization in the 21
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This note was uploaded on 05/01/2008 for the course ENGL 104 taught by Professor Smith during the Spring '08 term at Texas A&M.

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FINAL - Bhakta1 Dhara Bhakta Ms. Neely English 104-523 4...

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