THERE ARE AT LEAST TWO SIDES TO EVERY STORY

Has Globalization Been Beneficial?

It has brought prosperity to humanity

It has disadvantaged workers in the West

 Getty: Daniel Berehulak / Staff

Globalization has enabled one of humanity’s biggest triumphs, the large-scale eradication of extreme poverty and misery around the globe, argues Jonah Goldberg in The Hill. Since 1990, humanity’s population has gone up by over two billion, yet the number of people living in extreme poverty decreased by 1.2 billion. Almost 130,000 people rise out poverty daily. This richer world has also benefited the West, creating huge markets, particularly in Asia, that consume Western goods in great numbers. The free flow of goods and services around the globe has benefited everyone. Globalization should be promoted, not criticized, to further the spread of wealth.

Keep on reading at The Hill

It's impossible to ignore the economic stagnation that globalization has brought to the West, infers The Economist. Areas that thrived off of coal and mining industries stand out. From Scranton, Pennsylvania, to Teesside, Great Britain, whole cities have been left in the dust, their citizens suffering from poverty and joblessness. It was always assumed that globalization would spread wealth to everyone, but this is not true. Elites, in particular, have thrived at the cost to the working class. This has resulted in the election of populists like Donald Trump who threaten to undo globalization. Policymakers need to ensure that wealth is spread more evenly.

Keep on reading at the Economist
53.1%
Where do you stand?
46.9%
SHOW COMMENTS
Write a response...
See what else you’re missing
single