The changing patterns of Work and Consumption

The changing patterns of Work and Consumption - What is Globalization Globalization is a process in which markets and society in different countries are becoming more and more dependent on other countries. Because of this merge of economy and society laws are also made in conjunction with other countries due to them having the same interests. - Causes of Globalization The recent increase in the speed with which Globalization is growing was caused because of recent advancements in technology. Globalization has only become possible because of things like a well connected grid of roads, cargo planes, trains, giant ships and communication technology like high speed internet and the fact that smartphones became a mainstream device. Without high-speed transport and communication globalization would not be possible. - Effects on society § Media is centrally made in Amerika but is shown all over the world influencing other societies – Americanization. § Losing cultural diversity because everyone is constantly connected to the internet merging their cultures into one. § Spread of popular foreign cuisine, music and other art. - Effects upsides § cheap goods for the west § cheap transport of wares § more competition for companies § more choice for the consumer – has access to goods from all over the world § has access to goods even if they are out of season in the own country § better flow of information - Effects downsides § taking advantage of 3rd world countries – low pay § made the rich richer and the poor poorer § many jobs are being exported which is bad for the worker class § are often subject to bad working conditions § increased risk of stock/currency crisis due to everything being connected § 3rd world Countries are lowering safety and environmental standards in order to attract foreign investment