economic globalization
kozlow and pitman
international trade
exchange what is produces with what others produce the best
foreign direct investment
owns businesses or property in another country
migration for better paying jobs
forms of globalization
economic
cultural - transfer of ideas and knowledge
political - political systems
causes
growing internation economic activity
trade of goods and services
borrowing/lending
liberalization of foreign economic policies
large-scale immigration flows
technological innovations
pros of globalizations
global competition decrease prices for goods and services
higher standard of living
voerall sales for domestic companies increase, frees up capital to hire, buy domestically, increase investment in technological
buy goods that are not domestic, exposed to different tastes/cultures/norms
fix crises of capitalism
economic collapse
Keynesianism
geographic expansion
globalization and uneven dev
pressures
labor: industries can relocation to other countries to get concessions out of workers
environment: relocation to get concessions out of local, state, national gov’t on regulation