Essay Title: 


April 3, 2016 | Author: | Posted in business, mathematics and economics

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Answer 1 : Friedman ‘s analysis of the changing world :Two strengths : Friedman is right in his analysis that in the globalized world there are no

friends or enemies but only competitors . The democratization of information

technology and finance has shrunk the world into an overconnected community

Billions of dollars are moved from one country to another with the click of a mouse

This is an age of global business . He rightly draws an anology between `Lexus ‘ and the

Aspiration towards material prosperity brought by it . In the [banner_entry_middle]

globalized world the rule of

The game is integration and not exclusion which is being done by the internet . If

Globalization as a system can replace cold war it can end enmities and can create

Friendships between nations and within the nations

Friedman is also right in his analysis that technology has been a major factor behind

Globalization , the changing world . He rightly quotes that the most typical question in the

Globalized world is , How fast is your modem ‘ He says that the millions of investors in

Finance centers as wall street , Hongkong , London , and Frankfurt are the electronic herd

Doing split second business with the aid of technology

Two weaknesses : Friedman argues that to understand the world today we need to

Harmonize the idea of a materially prosperous world (symbolized by luxury Lexus cars

And the cultural roots of a people ( symbolized by olive trees But he does not provide a

Solution ( a way out ) for this grave conflict . Just highlighting a problem is not a solution

nor a correct analysis of the issue

Also he fails to analyze that a harmony between the two above mentioned ideas can ‘t be

achieved . As globalization is an irreversible process . The world is moving towards a 2

Consumer centric culture . These forces are very strong . Clones of cultures are being

Produced in different parts of the world due to various numerous effects of globalization

Answer 2

1 . Costs of globalization : In an aspiration towards material prosperity offered

By process of globalization individual countries are threatened with loss of culture and

Tradition (symbolized by the olive tree

2 . Globalization can be a politically destabilizing force in an individual country with all

The capital being with the free market economy players

3 . Human societies will be replaced by cyber societies

4 . Decline of spirituality and religion can be another consequence of globalization . In a

cyber space the most often sites are pornography , gambling and pop music

There is no God in the cyberspace as is often said

Benefits of globalization

It marks the end of the cold war . Individual countries are not in the rival camps

The future of the people of the international community has been united .Electronically connected world has got shrunked . This has saved business time

More and more countries are now switching to a free market economy which is

More democratic Ends rivalry between nations and within a nation . In a globalized world there

Are no friends or enemies… [banner_entry_footer]


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