The real goal of Globalization during the late twentieth century was meant to establish a single market over the entire globe in hopes to improve the living conditions for all people throughout the world. Consumerism and economic nationalism would shift market and marketing power into an equal level of education, shelter, equal justice and poverty. There four main points that globalization was to address, Migration, Education, Trade, and Investments.
The government would take a step back in their involvement and allow more people to participate in various activities of local sanctions.
Globalization began to emerge as self-serve shopping arrived during the 1920-30’s. Discount stores, large supermarkets, and the first Wamart (Waltons) opened in Rogers Ar. with a new strategy of everyday low price-low profit margin, but rapid turnaround and high sales volume. A supply chain began to emerge with warehousing, logistics, taking orders and credit. Walmart was unfairly attacked by several critics. As the concept spread throughout the world small business owners were affected and some even had to close, but ecominest believed the theory was good for the world by allowing anyone to purchase any goods from any part of the world.
During the mid 70’s economics of globalization began to materialize. Banks began loaning money to third world developing countries investing nearly 33%. Through the next several years the world economy would suffer through Secured and unsecured loans, adjusted loans, and unemployment. An attempt was made by the Obama administration to save the banks with a 700 billion relief and a 787 billion stimulus package to get people working and recovery.
Idealists began to rethink globalization, it could either be rapid growth or a complete disaster. It was a demand driven production, the public would determine the production. Consumerism would now spread free trade and technology to create markets. The IMF promotes international financial stability and monetary cooperation by facilitating trade, employment and growth reduce world poverty. However, in order to belong one must respect the copyrights, patents, and trademarks of each other. China refused to respect.
The question remains does the global economy and global regulation really bring stability and equality? Some critics will argue that we need to reign in globalization. Is it good or bad? Maybe both. According to the World Bank the poverty level dues increase from 1981 to 2001 but only increasing 389, Is this enough? The world bank does not account for public goods and services. Transportation of products and information allows for a faster understanding of what is traditional to a certain area and breaks down barriers in the cultural understanding between nations. As a result, some statists show that the poverty level has dropped and it would appear that nearly 400 million people worldwide. How do we measure human life?