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Unformatted text preview: more integrated global economy, where goods and services can flow more freely, trade expands and increases, and financial flows increase and become more unrestrained. Overall the processes of globalization also lead to the erosion of state sovereignty states, as they become integrated into the global economy, lose some control over domestic policy. Proponents of increased globalization will argue that the benefits outweigh the costs, as economic development and growth is spurred by globalization. Critics argue that states give up too much, and globalization hurts the average individual. The history of globalization is a history of globalization in waves, where for a time, integration of the world economy proceeds, only to be turned backward. This was particularly true in the interwar years. Each perspective will view the origins of globalization differently...
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- Fall '11