Gobalization - A Future Perfec

             John Micklethwait and Adrian Wooldridge's book A Future Perfect was a descriptive piece of writing regarding globalization and provided strong arguements for both sides of this highly debated issue.
             Throughout the book, the two authors show very solid arguments for both sides of the globalization debate, but it is clear that the book is pro-globalization and leaves you with a sense of feeling that globalization is for better, not worse.
             A Future Perfect starts off with a couple of famous economists, John Maynard Keynes and Friedrich von Hayek. These two individuals had much heated views on how to economically handle the Great Depression in the 1930's. Hayek offered advice of free trade, privatization and deregulation; this was globalization ahead of its time while Keynes offered government spending as a solution. Unfortunately, most nations took Keynes approach and the result was a snowball effect of government spending leading to federal debt.
             The book then starts to establish its arguement both for and against globalization. It lists technology, capital markets and management as the three forces that drive globalization. Examples of technology driving the marketplace are shopping malls being built as a result from air-conditioning. On a larger scale, the Internet and cellular phones have allowed for a vast improvement in communication at a price that is getting cheaper while the equipment is getting faster and smarter. This has greatly helped influence global trade at an unprecedented rate. This new rise in economically efficient technology and communication has allowed for not just big firms to compete globally, but small firms as well. This reduces the power of bigger companies by smaller companies competing with fewer fixed costs and a low overhead. Capital markets and management are helping the drive this new way of business by restructuring their firms to compete and/or trade internationally.
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Gobalization - A Future Perfec. (1969, December 31). In MegaEssays.com. Retrieved 13:27, March 28, 2024, from https://www.megaessays.com/viewpaper/74733.html