In: Economics
Briefly discuss the optimistic and pessimistic view of the distributional effects on globalization.
optimistic and pessimistic view of the distributional effects on globalization.
Explanation:
Globalization refers to the integration of domestic economy with the world economy. It removes all the barriers among countries and unites the world into one market.
Economists argue about the positive and negative effects of globalization on the domestic economy as well as world economy.
The optimistic views on globalization:
The pessimistic views on globalization:
With the advancement in information technology and transportation system, the distance among countries has narrowed down therefore globalization is something which every country has to accept. The countries can minimize the negative effect from globalization and maximize the positive effects of globalization to maximize the overall gain from globalization.