Introduction
Globalization can be seen in many different forms. According to (Gunter & van der Hoeven, 2004) it often refers to the gradual integration of economies and societies driven by a lot of factors. New technologies and economic relationships can both be seen as major drivers of globalization (Gunter & van der Hoeven). Also, national and international policies of governments, international organizations and civil society contribute to the globalization process.
(Preble, 2010) adds that widespread trade liberalization characterizes the current era of globalization. This period of globalization has had many positive effects like job creation, improved living standards and a wider variety of cheaper consumer goods and services (Preble). However, the key drivers of the current globalization era like free trade, private ownership, technological breakthroughs in transportation and communication and foreign direct investment, also cause dislocations and downsides. A more sustainable form of globalization has to be attained in order to prevent a relapse of globalization’s progress so far (Preble).
In this literature review the characteristics and consequences of globalization will be discussed. The protestors’ as well as the proponents’ point of view on the challenges and profits which this phenomenon brings along will be highlighted and key policy recommendations to counter the challenges will be given. After providing general information on globalization, the paper will go further into one of the factors of globalization discussed by (Gunter & van der Hoeven, 2004) and (Preble, 2010), child labour. Child labour was listed by them as an effect of the globalization process. However, there are many factors that influence the incidence of child labour in a given economy. Child labour therefore cannot be seen as an explicit result of the globalization process, but there are strong links between both.
Advantages and
References: Estevez, K. (2011). Nutritional efficiency wages and child labor. Economic Modelling, 28, 1793-1801. Goto, H. (2011). Social norms, inequality and child labor. The Journal of Socio-Economic, 40, 806-814. Gunter, B.G. & van der Hoeven, R. (2004). The social dimension of globalization: A review of the literature. International Labour Review, 143(1-2), 7-43. Preble, J. F. (2010). Towards a Framework for Achieving a Sustainable Globalization. Business and Society Review, 115(3), 329-366.