1. Globalization and Development
Others argue that the expanding global economy has instead increased global exploitation and inequalities, and further marginalized the developing world. ... If the person earns more working in the factory, they can spend some of their wages on buying the rice that they would have produced and still have money left over for other things. ... Globalization has helped to reduce transport and transaction costs so the potential gains from specialization are increased. Globalization has also increased competition giving people incentives to keep becoming more efficient. ... Globalization, then, c...
- Word Count: 7309
- Approx Pages: 29
- Grade Level: Graduate