Globalization – A Few Thoughts

1 min read
Apr 8, 2020 2:04:00 PM

Globalization has slowed recently and there are important reasons for the decline. The recent boom over the last fifty years has reached a plateau and to some that is alarming. Economies ebb and flow frequently, and there will often be periods when they stall. The real concern is the reason why this happens. Corporate leaders helping themselves to the lion’s share of profits can leave the middle class scrambling for financial security. This is part of the reason for the stall in globalization after such a long period of success. Balancing taxation levels might help to stabilize the economy and create more opportunities for economic stability across the board.

With the importance of international trade, the environment, health issues, and technological advances, we have no choice but to remain connected in a positive manner with our international allies. We have an ethical responsibility to do the right thing when working with other countries, but complications can result because of political and philosophical differences. Very often we see the matter as having only national importance, but personal ethics should have more to do with it. One can consider that everyone has this same mindset, but unfortunately, that is not always the case. Companies can shop around for the most cost-effective manufacturing options, even if it means sacrificing quality and international economic responsibility.

The internet has made it easy to have people in foreign countries do our work for much less cost than it would be to have the same work done in America. Some might think nothing of the fact that these people may be making less than a living wage and operating under adverse conditions. They might think that we have no moral obligation for economic justice internationally and that the United States doesn’t have to be the economic caretaker of the world. The question becomes which corporations value morality and global economic justice and which don’t. If everyone was on the same page, more solutions might be found to solve this problem.