Globalization Chapter one Continued . Globalization . Globalization is the process of becoming more globally interconnected- the building of ties within and among the peoples of the world; and of making the world more interdependent. What are some pros and cons to these processes? .
-- Productivity grows more quickly when countries produce goods and services in which they have a comparative advantage. Living standards can go up faster.-- Global competition and cheap imports keep a lid on prices, so inflation is less likely to derail economic growth.-- An open economy spurs innovation with fresh ideas from abroad.-- Export jobs often pay more than other jobs.-- Unfettered capital flows give [the west] access to foreign investment and keep interest rates low.
Perspectives: According to this perspective, television has the ability to change and shape society. Do you agree with this opinion? How might you be influenced by what you view on TV?