We are all making a big drive towards industrialization and getting rid of the worlds most occurring problems since the beginning which is poverty. Reaching that we use globalization our only savior in which Charles Wheelan would agree. Proving this thought by showing the destruction of helping, rates and consumers that never lie. And more we will undress the dismal science of globalization uplifting the issue we all call poverty. Over multiple years our stock market have risen and plumited numerous times creating an endless cycle.
During this time the labor market was so tight (it says in the book) ecen fast food restaurants were signing bonuses college kids were getting millin of stock options and capital flowed in. Eventually everything went off track at this time we were not using globalization in which you can understand why it rose then fell. We did not really have a grasp on what was happening no one could really understand what was really goin on. Even if we did understand we did not really have the full concept of the economy and how to make it somewhat consistent which is were globalization comes in.Globalization which represents the increase in the international flow of good and services which in the long run benefits the world greatly giving out thousands of jobs to third world countries and those who do live in poverty all around the world in america and out of america.
As globalization sweeps the nation million of people around the world have found jobs and a source of income within factories and other facilities around the world. Though people may protest at the idea and thought of men , woman and even children working in factories with long hours and low wages in some cases this is as good as it is going to get for most of them and this is their best option. In some cases people mostly americans try to protest on the behalf of the workers rights by boycotting the products that they make and even going as far as trying to get the factories shut down.However these campaigns against workshops hut the very people it is intended to help. You ever tried to help someone and it backfires and actually hurts the even worse that is exactly what happens when people protest on workers behalf not knowing what workers really want. In the book in (chapter 12 page 289 ) it gives you a good example of helping gone wrong when “ Senator Tom Harkin proposed legalization baning imports from countries employing underaged worker.
The direct result was that Bangladesh textile factories stop employing underaged children. But did the children go back to school? Did they return to happy homes? Not according to Oxfam, which found that the displaced child workers ended up in worse jobs, or on the streets- and that a significant number were forced into prostitution.” Us thinking were helping probably means we are not worker would be aghast at the idea of consumers boycotting toys and clothing. In other words someone living in New York may view cause and benefits different from someone on the edge of starvation in Nepal if we could step into their shoes we could see and understand the way they do instead of making assumptions of what they feel.
Our main point in why globalization is important or can save poverty is how it is spent according to what best value of time. The reason we go out and find people who are willing do industrial jobs for long hours and cheap pay is because it frees time to do things that we are better at. This is where absolute advantage comes in which is when different countries are better at producing different things they can do more by specializing at what they are best in and then they trade. Different countries have different advantages and some countries are only poor because they are not productive after all productivity is key to industrializing the world. Which is why workers in other countries provide a lot to trade. “What can Bangladesh offer to the United States? A great deal, it turns out, because of a concept called comparative advantage.
Workers in Bangladesh do not have to be better than American workers at producing anything for there to be gains for trade. Rather, they provide goods to us so that we can spend our time specializing at whatever we do best.”(chapter 12 page 274). So we would buy cheap clothes by poorly educated worker because our engineers would spending time on commercial airplanes because it creates best value of time even though they would know more about manufacturing shoes and shirts. Productivity makes us rich and specialize makes us productive while trade allows to specialize.
“In the long run however, what a country produces and what it consumes are going to be nearly identical.’ What we as consumers can consume is tied down by what we can produce because they produce elsewhere. A country having a GDP (Growth Domestic Product ) of 1,000 can not consume 20,000 per capita what we consume comes from what we produce just like family family spending depending on family income. Without globalization economy is good butt it makes it better. The country produces more goods and services but it is not enough to keep up with a fast growing population. But if we used globalization we could use the help of trading with other countries and we would for sure be able to keep up with consumers plus a fast growing population.
In simple words people nowadays are five times more richer than they were or would have been before the use of world trade. Even though the day is not anymore longer what we can manage to get done in twenty-four hours has changed drastically we are more productive. Something that makes us productive is human capital this is what makes individuals productive this determines our standard of living .”In poor countries, human capital dose all the good things we would expect , and then some.”(chapter 13 page 301) Schools can improve public health which is a form of human capital.And im theory countries that are poor should be able to catch up and fill the gap by watching more developed countries. In the end we all know what we need to do do not fight globalization when poverty is the real villain in this world. In conclusion vote for globalization or many lives will be hut do you want that in your hands.
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