The Virtuous Vice: Globalization

The Virtuous Vice: Globalization

The Virtuous Vice: Globalization

The Virtuous Vice: Globalization

Synopsis

Globalization is both a virtue and a vice. On balance it is beneficial to individuals, communities, nations, and the world economy. It facilitates the movement of goods and services, people, financial capital, and ideas. Overall, it creates wealth. Globalization does have vices, however, cultural clashes, environmental degradation, and displaced workers among them. The contributors to this volume contend that the give and play between the positive and negative sides of globalization will eventually result in a smoother and more equitable process.

Excerpt

The topic of globalization has become the major theme of many academic disciplines and a source of ongoing research and inquiry by many in academia and industry. Unfortunately, there seems to be some confusion and misconception in the current debate surrounding globalization. Many still do not differentiate between internationalization and globalization of the economy. The multifaceted nature of issues of globalization adds to the complexity and fragmentation of the debate. There is also a general tendency among economists to study globalization in a purely economic context and only consider other aspects of the process in a peripheral mode. This book, arranged in two parts, provides a mix of major aspects of the debate in a multidisciplinary approach. Part I deals with the meaning and the roots of globalization. It provides a discussion of different definitions and processes of globalization, as well as the global economic impact of intensification of international trade and investment.

Political, social, and cultural ramifications of globalization business and the economy are discussed in Part II. The ever-changing nature of nation-states and the erosion of national sovereignty of governments are fully discussed in this part. In addition, globalization issues related to labor, the environment, education, and women are raised and presented in a forward-looking fashion, which would open the debate beyond the immediate concerns of policymakers and analysts in the field. The role of nongovernmental organizations and international institutions, as well as international organizations, in coping with the fallout of globalization is also addressed in this part. This volume can be used as a reference book for many courses in the areas of international business, international economics, international finance, and the global economic and business . . .

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