Globalization: Costs and Benefits

A collection of flashcards exploring key vocabulary related to the costs and benefits of globalization.

Globalization

The process of interaction and integration among people, companies, and governments worldwide.

Historical Context of Globalization

Phases include Silk Road, Colonialism, Industrialization, and periods of weakened globalization.

Less government = more democracy

A viewpoint held by some conservatives who favor free market capitalism.

Environmental degradation

The deterioration of the environment through the depletion of resources and pollution.

Cultural Homogeneity

The process by which local cultures are transformed or absorbed by a dominant outside culture, often referred to as 'Americanization'.

Pro-multilateralists

Individuals or groups that support cooperative engagements among multiple countries, exemplified by organizations like the UN.

Anti-capitalists

Groups or individuals opposed to capitalism, including old Marxists and socialists.

Americanization

The influence of American culture and business practices on other cultures globally.

Interdependence

Mutual reliance between countries, leading to increased cooperation on global issues.

Coca-Cola

An example of a product associated with globalization, symbolizing the spread of American culture.

Benefits of Globalization

Includes interdependence, economic growth, reduced trade barriers, and increased political access.

Rising inequality

The increasing gap between the richest and poorest individuals and countries as a consequence of globalization.

Technological Adoption

Rapid implementation of new technologies that facilitate globalization, especially in communication and transport.