Winners and Losers of Globalization

Every day it becomes more evident that the geographical, cultural, and business barriers that once separated the world are steadily fading. As a result of the forceful expansion of globalization it is no longer impossible for customer service calls from the United States to be answered in India, or for American products like Pepsi to thrive in international markets around the world. Since the decline of barriers to free flow of goods, services, information, and capital has occurred the effects of globalization have become prominent in all aspects of life. Globalization is characterized as a phenomenon where societies shift towards a more integrated and interdependent world economy (Hill, 2011, pg 7). The dramatic changes that globalization has had on the world over the last ten years have been met with praise and acceptance, but also with fear and rejection since globalization results in both winners and losers. Even though there are numerous winners and losers in the expansion of globalization there are a few parties that significantly benefit or suffer more than others. When the benefits and consequences of globalization are considered it becomes evident that one of the most prominent winners of globalization are large corporations and businesses that have the capability to expand internationally; while the prominent losers in the situation are America’s middle class that have little control or input on the effects and progression of globalization. Corporations have always played a significant role in the expansion and progression of the economy. Since increasing profit and expanding business has always been a central goal in businesses globalization has allowed numerous, once national corporations, to become multinational corporations that have capitalized tremendously from outsourcing and the rapid growth of financial markets. Due to globalization corporations have been able to offer their customers better products at affordable prices while increasing

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