Advantages and Disadvantages of Globalization

Globalization is the attractive word that has been given to the global actions of ideas, capital, goods and people. It is one of the most powerful forces reshape our planet. All of us can remember a time when foreign goods were smuggled, foreign travel was a rarity, foreign books and magazines were hard to come by, where ISD calls required spending Rs 120 per minute, and where email did not exist. While that world is inevitably …

…consumers and government need to save more, which would mean less spending or higher taxes. Europe requires cuts in benefits and taxes, along with labor flexibility, to attract younger workers. The few politicians who try modest versions of these messages have not done well with voters. Perhaps someone gifted could sell what is inevitable to the unwilling. But for now, the anxious have misdiagnosed the difficulty - and the cure will continue to cause hurt.