The spread of globalization is a fast growing trend that allows money, products, and labor to flow freely across national borders. It provides a link between nations, intertwining a greater variety of cultures into a person's life. Although the increase of globalization could be perceived as a beneficial social change, there are long-term consequences that may affect our whole society. These long-term global changes widen the income gap between rich and poor, diminish equality between occupations and promote a monoculture society. The globalization of production, marketing, and distribution is going to have a negative effect on the United States economy in the near future.
             If economic globalization keeps increasing over the next dozen years, unemployment will become unreasonably high and the eminent paying jobs will be reserved for the educated. "...industrial nations like America provide financing, expertise, and creativity in arranging high value products and services...problem is that such occupations now account for only about 20% of the labor force..."(Harper, pg.47) If routine labor can be done cheaper in other nations, companies will change locations and take their jobs with them. "...world has become the object of powerful countries and corporations concerned to improve their competitive advantage by "capturing" the world's resources." (McMichael, pg.xxviii) As companies take their business over seas, Americans will have to spend their money on imports, resulting in less income for people employed in the U.S. Similarly the number of jobs in the U.S. will decrease as companies relocate to find cheaper labor. If imports are greater than exports the U.S. National Savings will fall, leading to a U.S. trade deficit. Global trade and global movement of capital affect domestic and international debt, which eventually affects interest rates domestically as capital bounces between mar...