Is Development Best Achieved by Being For, Or Against, Globalization Essay

Is Development Best Achieved by Being For, Or Against, Globalization - Essay Example This essay stresses that globalization is a word that has been coined recently to refer to an age-old process. Indeed, globalization began in the centuries preceding the New World and the European Age of Discovery. Some of the earliest forms of globalization were through trade and cultural interactions. For instance, the Ottoman Empire explored parts of Africa, Europe and Asia while trading silk and spices in the 15th century. However, the magnitude of globalization in these times can best be described by the term minute. Increasing in modern globalization began in the mid-1980s and has risen sharply in the subsequent decades. This sharp rise is attributed to the modern forms of communication such as the internet and the emergence of mobile phones. This paper makes a conclusion that development is best achieved by being against globalization. As illustrated above, the effects of globalization benefit few countries while causing disadvantages to many. The modern-day phenomenon has failed to eradicate poverty and improve on the lives of those in developing countries. Instead, it has resulted in high unemployment rates and degradation of the standards of living. For example, globalization has forced the shutdown of many startup companies based in developing countries due to their inability to match the expertise and capital of the developed world. Secondly, globalization has resulted in inequality between the developed and developing countries. This compounded with the debt crisis hinders development for the underdeveloped countries.