GLOBALIZATION AND CONTEMPORARY ETHICAL THEORIES

Globalization

is the process through which businesses, cultures, technologies, and individuals become interconnected and interact across national borders. It encompasses the expansion of international trade, communication, and cultural exchange. This module focuses on the ethical aspects of globalization and the ethical theories in the 21st century.

Exploitation of Labor

Globalization can lead to a "race to the bottom" where companies seek the cheapest labor available, often in countries with poor labor protections. Workers in low-income countries may be compensated far below living wages, work in unsafe conditions, or be subjected to labor rights violations.

Child Labor and Forced Labor

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.

Job Displacement in Developed Countries

Outsourcing jobs to cheaper labor markets can lead to unemployment or wage stagnation in higher-income countries. Workers in developed nations lose jobs or face reduced job security, while companies profit from cost savings

Widening Economic Inequality

While globalization increases Gross Domestic Product (GDP), the gains are often unevenly distributed. Corporations and elite groups benefit significantly, while many workers remain in poverty.