From the day when I first learned the term globalization it has been a topic that has captured my interests. This country gains while the other looses, these people thrive while others are less fortunate, technology moves in and forces human labor out, and so on and so on. So is the world really gaining from globalization or not?
             People in less developed countries may think the world is gaining when a new factory opens for production of foreign goods. Their income goes up and their lives seem to become a little more stable. The people of the country for whom the goods are being produced will enjoy cheaper prices; hence they will be able to afford more of the product. The business owners will certainly appreciate the events in that; 1 their cost of labor goes down, 2 supply and demand go up, and 3 their wallets get fatter!
             On the other hand, while the people in the less developed country are enjoying their new jobs, the country from which the jobs came from is experiencing deindustrialization. These people are loosing their jobs not because they were performing them inadequately, but simply because their employer discovered that they could get the job done cheaper in another country. So is the cheaper product more important to the people of the economy than the jobs that were lost? I think it depends. If you are just one of the people who purchase the item, then it is likely you will be in favor of the cheaper products. However, if you were one of the workers who produced
             the item then the jobs lost would be of more importance than the lower price with consideration to your own livelihood.
             Until this class I never really thought of how much globalization has and will impact the economy of the world. From supply and demand here and abroad right down to the unemployment rate of each country throughout the world, globalization has its foot wedged in virtually every door of the busin
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