GLOBALIZATION AND CONTEMPORARY ETHICAL THEORIES

Globalization

is the process through which businesses, cultures, technologies, and individuals become interconnected and interact across national borders.

Globalization

It encompasses the expansion of international trade, communication, and cultural exchange. 

GLOBALIZATION AND CONTEMPORARY ETHICAL THEORIES

 This module focuses on the ethical aspects of globalization and the ethical theories in the 21st century.

 Ethical Issues of Globalization

While globalization can drive economic growth and development, it also raises complex ethical concerns

such as

1. Exploitation of Labor –

 Ethical Issues of Globalization

Globalization can lead to a "race to the bottom" where companies seek the cheapest labor available, often in countries with poor labor protections.

1. Exploitation of Labor –

 Ethical Issues of Globalization

Workers in low-income countries may be compensated far below living wages, work in unsafe conditions, or be subjected to labor rights violations.

1. Exploitation of Labor –

Example: In 2013, the Rana Plaza building in Bangladesh collapsed, resulting in the deaths of over 1,100 garment workers. It showed how unsafe factories are for workers making clothes for global brands like Primark and Walmart.

1. Child Labor and Forced Labor –

 Ethical Issues of Globalization

To reduce costs, some global supply chains exploit vulnerable individuals, including children and marginalized workers, who may face dangerous work conditions and be denied basic rights.

1. Child Labor and Forced Labor –

Example: Cocoa production in West Africa often involves children working on plantations that supply major chocolate companies like Nestlé and Mars.

1. Job Displacement in Developed Countries –

 Ethical Issues of Globalization

Outsourcing jobs to cheaper labor markets can lead to unemployment or wage stagnation in higher-income countries.

1. Job Displacement in Developed Countries –

 Ethical Issues of Globalization

Workers in developed nations lose jobs or face reduced job security, while companies profit from cost savings.

1. Job Displacement in Developed Countries –

Example: U.S. manufacturing jobs have been lost to overseas production, particularly in the steel, textile, and electronics sectors, leading to economic decline in industrial communities.

1. Widening Economic Inequality –

 Ethical Issues of Globalization

While globalization increases Gross Domestic Product (GDP), the gains are often unevenly distributed. 

1. Widening Economic Inequality –

 Ethical Issues of Globalization

Corporations and elite groups benefit significantly, while many workers remain in poverty.

1. Widening Economic Inequality –

Example: Apple earns massive profits, while workers assembling iPhones at Foxconn factories in China report long hours and low wages