Globalization and Its Impact on Wealth Disparity

Essay by wanjoki March 2012

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Globalization and Its Impact on Wealth Disparity

Summary on Issue

The concept of globalization is no longer new to any people in the world. It has its origin as early as colonial times�. It was derived from the concept "international" which is coined by Jeremy Bentham in the 1780s (Scholte, 2008). However, the word "globalization" did not come into existence until 1950s (Scholte, 2008). And by the time it flourished, it was already 1980s (Roberts, 2010). Since then, with the help of the rapid developed information technology, it has become a new international trend in coming decades.

However, the process of globalization has not been smooth. Contrarily, the progress of globalization has been quite controversial.

Indeed, globalization has brought a lot of positive effect from various perspectives. Taking culture for example, with the help of globalization, people from different culture backgrounds can interact with other non-native culture. Education for instance, globalization has provided more opportunities for the students to learn from and to share academic achievements.

With the help of globalization, the human rights and democratic progress have been elevated to another level by international collaboration. The "Jasmine Revolution" in the Islamic countries is the best proof of the positive effect of globalization.

However, just as coin has its two sides, the negative effect brought by globalization cannot be neglected as well. Terrorism activities are more rampant due to lessening barrier of safeguard caused by globalization. There wouldn't be anyone would forget the "911" tragedy. And globalization should be held indirectly responsible for the recent terrorism activities took place in Russia. Diseases have gained ability to spread in unimaginable speed and range. In 2009, it took only 2 months for the "swine flu" to develop from an outbreak in Mexico City into global flu pandemic.

And last but not least,