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Erschienen in:
2017 | OriginalPaper | Buchkapitel
2. Globalization: Drivers and Effects
verfasst von : Ken Moak
Erschienen in: Developed Nations and the Economic Impact of Globalization
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Abstract
Globalization means different things to different people, but scholars define it in terms of economics, polity, and culture. The economics part refers to unfettered trade and investment, based on David Richard’s theory of comparative advantage. The political part is on institutional changes within and without national borders, in that of nations ceding power to a supranational organization to attain a stronger voice in the global community. The cultural aspect of globalization is the international movement of people and the arts. Its mixed results have culminated in the rise of populism and protectionism in the West.