Globalization and the Third World

Examining whether globalization will have a negative effect on third world countries.

This paper compares the trend of capitalism in the late 19th – early 20th century with the trend of globalization today. It explains that globalization of the world economy has the potential to bring both great benefit and great hardship to third world populations, but like capitalism, globalization without proper checks and balances could become a runaway force, knowing no moral or ethical boundaries. The potential harms and benefits are listed, showing that in moderation, all these factors need not be a threat to the third world.
“But globalization is not a term that is merely descriptive. Worldwide, as many people are taking an active stance against the globalization process as there are working toward it. Coalescing from a variety of sources, pro- and anti-globalization forces are beginning to take on the same impassioned polarization that dominated the debate between capitalism and communism in the early 20th century. Interestingly, each side in this debate relies heavily on examples from the Third World to make its case. The proponents of globalization cite a myriad of benefits to be gained by underdeveloped countries though greater access to the goods and services that transnational companies can provide. Anti-globalization activists, on the other hand, point to many examples in the developing world where globalization has robbed indigenous populations of traditionally held land or water rights, disrupted cultural and social values, and disturbed lifestyles. ”