Globalization

GLOBALIZATION

Globalization is view as the best thing that happened to the world at large. It is seen as an ethical dilemma for countries, people and businesses. Definition of globalization states that Globalization is a process of integrating different world economies. Globalization is integration among the people, government and companies of different countries (Rothenberg, 2003).

This paper would focus on some of the pros and cons of ethical dilemma using three ethical theories; virtue, utilitarian and Kantian ethics.

Globalization has contributed to the world economies in many ways. In other words, the world has become interconnected through technology advancement, communication, transportation. The rapid growth in technology allows business to cross boundaries. Thus, companies tend to become more productive and competitive which raises quality of goods and services and world standards of living. People can buy goods and services at a relatively cheap rate. utilitarian theory in this context is about maximising happiness and minimising misery Gillon, R. (1985) which is been derived in this situation.

Globalization enriches our knowledge through international trade, thereby injecting capital across boarders. Global change made china what it is today as a leading economy power, therefore bringing development and growth. Relating this the Kantian theory, value depends on the ends to which they are means, the needs and desires to which those conditions give rise Korsgaard (1986). Companies take advantage of low cost of labour countries, building factories thereby providing jobs for the locals and also exporting the goods and services to other countries which brings about balance of trade and provides funds into those countries.

However, we cannot ignore the negative effects derived from globalization. One aspect is the risk and danger of the toxic waste produced, carbon dioxide released into the air by these factories, resulting to epidemic disease. this contradicts the virtue theory which emphasis on taking the well being of others into consideration.

Also, the production of goods using substandard materials flooding the market thereby killing the local production. Exploitation of workers in underdeveloped countries in terms of poor wages or salaries which contradicts the moral perspective from Kantian’s theory.

Decisions make abroad affects and undermine national well-being. For example, the economic state of recession in Nigerian, a wealthy nation rich in natural resources is as a result of decrease in the price of crude oil price in the world market. As at today, the price is pegged between $51 to $ 52 to a barrel (nasdaq.com) as compared to $140 some years back.  This contradicts the theories of Kantian considering the welfare of the citizens and utilitarian in terms of happiness been minimised.

Having analysed the pros and cons of globalization. In my opinion, I feel globalization is the best gift the world could receive because there are more benefits derived from globalization. Relating it to aspect like immigration of people and culture, education, free flow of capital, technology the list is endless, which focuses on people well being.