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Effects of the Global Economy

ome America's dominant economic and social philosophy. . . . The worldwide division of labor not only will create vast disparities of wealth within nations but also may reduce the willingness of global winners to do anything to reverse this trend toward inequality---either within the nation or without (315).

The lines between nations will become increasingly vague, while the threat of major wars becomes diminished. The passing of the Cold War has had one negative effect---it has taken from the United States the enemy which had for decades given the nation a focus point for unified energies. The collapse of the Soviet Union brought a dramatic lessening of world tension, but it also cut an important string that had held the nation together as it faced the threat of nuclear war. Nationalism no longer serves as an effective force in holding the Unit

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Effects of the Global Economy. (1969, December 31). In LotsofEssays.com. Retrieved 19:38, April 18, 2024, from https://www.lotsofessays.com/viewpaper/1693213.html