Is it possible to reconstitute local manufacturing and local food Essay

Is it possible to reconstitute local manufacturing and local food markets, or has Globalization ultimately made this impossible - Essay ExampleThe researcher states that the term internationalization is an overused article yet very few understand its true meaning. Globalization has always been defined by the abbreviate economic platform as an integration of national economies through a removal of barriers to free pot and commerce. A broader definition of globalization is the growing interconnection of social, cultural and economic strategys. Globalization encompasses the processes, linkages, and exchanges which are global in nature. Ideally, globalization is a process that has been gradual, persistent and self-advancing for the last 400 years. MacGillivray holds that capitalism is one of the important drivers of globalization. Adam Smith, the father of capitalism and free trade held that human beings are driven by self- wager. self-interest is not a bad thing but as a driving force cornerstone every economic agents action. Smith therefore believed that free market is the most ideal and progressive system in the world. Smiths concept of a self-regulating unit is a fundamental constituent to capitalism and can help us understand the drive behind globalization. Each society wishes to maximise its own welfare, and that, different countries are endowed with different resources, technologies, and products that they let out cost-effectively. Therefore, trade enables each country to returns of the products of other societies which gives it the ultimate advantage, because by exchanging products that one society cannot produce cheaply with products that other societies can produce abundantly with lesser cost, both buyer and seller maximize their own welfare. An invention of large sail vessels and discovery of better navigation system made it possible for countries across continents to interact and trade. Given the self- interest and the desire to maximize pr ofits, mutual benefiting relationship across continents was forged, and that resulted in and globalization. From the definition above, there are two key terms that can help us understand the essence of globalization - interconnectedness, and processes.