Nature & Origins of Globalization This research paper summarizes th

Globalization was made possible by, and is a logical consequence of technological advances. According to Tharoor (2002, Winter), the dominant characteristics of the contemporary interconnected world economy at the turn of the 20th century is "ease of communications and travel, the flow of people of all nationalities and colors across the world, [and] the swift pulsing of financial transactions with the press of a button" (p. 66). A sweeping cycle of technological innovation facilitated the spread of globalization. The core inventions were the transistor and the integrated circuit which Dunn (1999, October 25) said "created whole new industries by packing electronic components onto a single silicon chip the size of a fingernail" and "powered the great postwar boom" (p. U 2). According to Friedman (1999), innovations in information technology and teleco

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n country's currency, the Thai baht, quickly spread throughout that region and undermined economies as far afield as Latin America and Russia. The psychological impact of sudden and comprehensive technological, economic, political and cultural changes was described by Toffler (1990) as future shock: "the disorientation and stress brought on by trying to cope with too many changes in too short a time" (p. xix). Globalization has brought in its wake transformative even revolutionary changes in established political, economic and cultural patterns and traditions. As such, it has been perceived by many as profoundly disquieting and threatening and as a consequence generated a strong backlash which has gathered momentum in recent years. Friedman notes that "the backlash against globalization is a broad phenomenon that is fed by many different emotions and anxieties that have been triggered by the new system and the challenge of adapting to it" (p. 269). The backlash against globalization first became overt during protest demonstrations, marches and sporadic violence at the Seattle meeting of the World Trade Organization (WTO) (November 30-December 3, 1989). Subsequently, similar protests have been mounted at conclaves of world p
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Micklethwaite Wooldridge, Wella Hersh, According Friedman, Taiwan Gray, America Russia, According Tharoor, Geopolitically Friedman, Globalization Despite, World War, Professor Gray, free market, micklethwaite wooldridge, world economy, wella hersh, era globalization, living standards, political economic, anti-globalization forces, effects globalization, income inequality, globalization income inequality, income inequality population, term effects globalization, effects globalization income, 2001 september 16,
Approximate Word count = 2585
Approximate Pages = 10 (250 words per page)