This paper explores the effects of globalization on the world focusing on the practice of First World companies outsourcing substantial amounts of labor to Third World workers.
The paper defines the term “globalization” and shows why Third World workers are paid less than First World workers. The paper explains why globalization produces monopolies. It then describes how globalization and trade agreements reduce the rights of workers in poor countries and increase environmental degradation while at the same time raise the standard of living in the First World.
“Globalization has brought with it an ever-more-rapidly-increasing concentration of money (or capital) in the First World’s financial markets. This is the direct result of the fact that globalization has also brought with it increasing conglomeration of firms that were once separated by national barriers and that once competed with each other.”