Globalization Research Paper Example | Topics and Well Written Essays - 2500 words

Globalization - Research Paper Example The new globalized economy has become dependently structured on modern and digitized culture (Passaris, 2006). This paper will assess the benefits and detriments of information technology in significant areas of industrial structure, workforce, financial markets, healthcare, education, journalism and media. Moreover, the Digital Divide caused by IT access inequalities will be explained. Globalization: Its Benefits and Demerits Globalization is the process of producing a net of linkages through a stream of information, technology, populace, and goods and services. In economics, globalization creates worldwide free market and capital flows, employs international transactions, encourages foreign direct investments, and aids in fast and extensive dispersal of technology (Smith & Doyle, 2002). Pro-globalists affirm that globalization speeds up economic development, thus providing worldwide quality-living; promotes higher profits and presents larger options for low-cost goods and services; raises employment and salaries and assists in the upgrading of working status and defends workers’ rights; and aids in environmental protection and conservation through national funding of ecological development. Moreover, globalization gives assistance and support to second and third world nations through increased economic expansion; alleviates poverty and hunger in the developing nations; safeguards civil rights; and promotes democratic governance. A century ago, today’s experience of modern quality life brought about by the global digitized economy was beyond imagination. The new globalized world created improved health, longer life span, computer literacy, comfort, and higher living standards (Batterson & Weidenbaum, 2001). From an anti-globalist’s standpoint, globalization brings financial disasters and poverty for the sake of greed and power; amplifies global income gap between the rich and poor nations; affects the cross-border displacement of US jobs t o below minimum salary factories unprotected by workers’ rights; and abuses ecology and environment for financial greed, thus worsening environmental conditions. Additionally, a globalized economy subjects developing nations to unjust trade and extra financial burdens; sustains world commerce in mass oppression and slavery; pressures the independence of nations by weakening their national policies on world trade; and risks the health, economy, and social status of the developing nations (Batterson & Weidenbaum, 2001). The Globalization of Information Technology Information Technology (IT) is a motivating channel in global integration through efficient information flow and distribution. The early expansions in computer and telecommunications technology in the nineties have caused extensive upgrading in information access and economic prospects that improved competence in every economic zone. IT system of communication assists the development of manufactured goods, designs, and reserves among nations and their population despite distance (Information Technology and Globalization, 2006). Today, IT products are common and used in virtually all transactions of business and interactions of mankind. The fast development of IT and its applications have redefined global experience. Three decades ago, prior to the introduction of personal desktop computers, people used the typewriter which allow simple paper documentations devoid of text manipulation and storage. Two decades ago, there was