Globalization Essay

504 WordsAug 8, 20123 Pages
1. What factors may lead to the conclusion that the United States is particularly well situated to participate in globalization? Why is the political climate in the United States nevertheless turning against globalization? First of all, the United States has a well-positioned geographical location. It lies in between the Eastern Asia and Western Europe while also having Latin America to its south. The active economic relations with all three regions are a huge advantage. English has also emerged as the language of the world in which almost all international business is conducted. Birth rate and rate of migration into the US is greater in the United States than it is in Europe and Japan. The rate of innovation is very fast and this method of new business formation has been constant for the past three decades no matter how fast the U.S. economy has been developing. The United States is also anti-traditionalist making it flexible for the United States to not be embedded in older ways of doing things. It also has great infrastructures that support entrepreneurialism such as stable money supply and exchange rate and a well-developed legal system. The US also has great educational system, multi-ethnicity society, a classless society, one labor market, democracy, and recognition that US is the world’s primate city. Inequality tends to increase in times of rapid innovation and then decrease over time. However, the effect of continual innovation paves way to build up of inequality. Sometimes the sort of jobs available changes so the problem is not that unemployment is rising but that the nature of jobs is always changing and the faster the rate of innovation the faster the restructuring of the job market is. 2. What parts of the Japanese social compact compensated its people for the high taxes and high prices that characterized its development? What effects does

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