Revisiting the Implications of Globalization to the Western Capitalist Economies
Journal Title: IOSR Journal of Humanities and Social Science - Year 2018, Vol 23, Issue 2
Abstract
Globalization is a two sided coin with one side projecting opportunities and the other, threats. Any explanation to globalization may be linked to the side of the coin that is given attention per moment. It presents both opportunities and challenges and also tends to bring prosperity to core countries while it does not also hide its heavy adverse effects not just on the countries of the periphery but also on the advanced capitalist countries. Developed countries are not immune to the harsh effects of globalization; they have their fair share of the burden of globalization. This is against the views of some scholars that have always seen globalization from the positive light, especially when it concerns developed countries. It has both advantages and disadvantages for all countries and the country with the greatest wealth have benefited the most, while those with the least wealth have gained the least. Utilizing the world system theory, this study interrogated the implications of globalization on the western developed economies. It commenced first by looking at the effects of globalization on developing countries but gradually advanced to how it also affects developed countries themselves.
Authors and Affiliations
Iheonu . , Umunna Jean- Allens, Madueke . , Onyedikachi .
Keywords
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- EP ID EP418029
- DOI 10.9790/0837-2302128186.
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