User:Marlee Gaddy/Economic globalization

Introduction
Paragraph 2; "it has grown at an increased rate due to improvements in the efficiency of long-distance transportation, advances in telecommunication, the importance of information rather than physical capital in the modern economy, and by developments in science and technology."

- add to the factors that has made it grow being = "international relations" and "Global Consumerism"

Rewrite to say : "it has grown at an increased rate due to improvements in the efficiency of long-distance transportation, advances in telecommunication, the importance of information rather than physical capital in the modern economy, international relations, global consumerism, and by developments in science and technology."

Paragraph 2; "This recent boom has been largely supported by developed economies integrating with developing countries through foreign direct investment, lowering costs of doing business, the reduction of trade barriers, and in many cases cross-border migration."

- add to expand on the term used as "developing countries" to include a more precise description not mentioned = "also known as periphery countries".

Rewrite to say : "This recent boom has been largely supported by developed economies integrating with developing countries otherwise known as periphery countries through foreign direct investment, lowering costs of doing business, the reduction of trade barriers, and in many cases cross-border migration."

Add Definition & Cite : A periphery country is a disadvantaged country that relies on well developed core countries for aid economically.

Add paragraph into the intro:

Economic Globalization has played a fundamental role in core and periphery countries economies. Core countries with dominant global economies stem from historic methods like invasion, colonization, and exploitation of the developing periphery economies. Within the economic globalization process comes various steps to achieve a greater stake in the global economy that include; consumerism, marketing, and labor exploitation which in all aids to an economies advancement. Additional Definition To Include:

"Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies.

Cite : Shangquan, Gao. "Economic globalization: trends, risks and risk prevention." Economic & Social Affairs, CDP Background Paper 1 (2000).

"Economic Growth and Poverty Reduction" & "Race to the Bottom"
Both Paragraphs : Touch on China and India as their examples of countries that have and or are undergoing the process of economic globalization

For example from the article : " China, India, and Bangladesh, some of the newly industrialised nations in the world, have greatly narrowed inequality due to their economic    expansion."

- (* Note : Also fix the spelling from this quote directly pulled from the article. "industrialised" should be spelled as; "industrialized". )

Edit : The information is very misleading from the example given of India.

**Note: Add in "Economic Development" as a sub-paragraph
Overall : I found the article does not take an in depth look at the piece that plays a vital part in the entirety of globalization which is a countries economy. The article lacks examples of globalized economies, including the processes and buildout they undertake in order to comprehend the economic globalization development. (ie marketing and consumerism)

Add In Topic; "Consumerism"

 * Example Country : United States

Add In Paragraph under "Consumerism" ;

Economic Globalization is a broad concept that can be viewed from a smaller scale. In order for a country's economy to enter a globalization phase it initially has to develop within its own borders. The United States is an example to look at through it's developmental process internally that has led it to become a global economy of mass recognition. The United States sustains a revolutionary combination of it's land development, consumerism, and political structure. One of the most important factors that leads to any country's economic development lies with the internal economy. Through America's events of the progressive era, during/ post WW2 era, emergence of suburbia, shift of mass consumerism to an increasingly market segmented one, and the evolution of the consumerism's role in politics all historically compound together to give America it's globalized economy it holds today.

The progressive era in the United States shows the emergence of the consumers identity in the context of the citizen consumer. This was a time period where there was a shift in America's consumer demand for women's suffrage, political change, and economic specifications. During the second world war, America saw a shift in the type of consumer the average person wold become. Demand for consumer protection in the market place emerged and government intervention was heavily relied upon as a sprouting interaction between the consumer and retailer increased. When many men in the country had left and were deployed overseas, women then assumed the position as the household consumer. With this vital role, they found it more and more imperative to regulate the market in the best interest of the people. In May of 1941, United States President Roosevelt introduced the Office of Price Administration(OPA), with intentions to regulate retailers and ensure consumer protectionism. Acts passed by the OPA to ration goods, set price controls, and stabilize wages among the economy had been introduced and expanded upon starting from the year of 1942 and lasting until the wars end. Newly enacted regulations like these, with a combination of government encouragement of price monitoring by volunteer consumers kept America's spending in a quantifiable position. During the war, Americans were expected to make many sacrifices in order to play their role on the home front to help contribute to the war. The United States government captivated the American people by tying consumer participation and their sacrifices to being a patriotic characteristic furthering a foundation of domestic investment.

With a coming end to the second world war, returning American soldiers expressed their demands for benefits and aid once back on the home front. Post world war two, America saw a rise in the consumers republic defined as the post world war two American economy that indulged into mass consumption across the entire population tying together the commodification of spending habits with an American democratic characteristic. This had led much attention to be paid to the average family dynamic thus leading to the GI Bill's creation. The GI Bill offered benefits for returning American soldiers including; college education, tuition, mortgage insurance, and family dependent monetary increases. The GI Bill helped propel the United States investment of infrastructure featuring home buying and real estate growth. As an influx in the population had ventured to the city, it compelled many white families to move further away from the city introducing the country's monumental shift to a period of mass suburbia where the white families planted their roots farther away from the city in a rural setting. This movement embedded long lasting racial, socioeconomic, and class divides throughout the United States. This mass developing housing market in the United States sought to uphold a purely free market title, yet was the exact opposite as it denied many African Americans the benefits that white middle and upper class families easily accessed. It was this period that the United States experienced an uptick in inflation of the consumer prices.

With the mass construction of suburbia housing, followed with the building of schools, as well as a new version of the marketplace; the shopping mall. The shopping mall revolutionized consumerism in America as it paved the way to become a major source for job creation, leisure shopping, entertainment, and later major controversy yet still stimulating the American economy. As America produced many commodification like automobiles, shopping malls moved locations to the outskirts of urban land to accommodate a larger customer base from nearby and far. Subsequently, these shopping centers came with the unequal and divisive factors discriminating against the African American community, different genders, and various religious populations narrowing monetary profit. Malls formulated their employment practices to discourage African Americans, women, and various people of religion identifications from inclusion and participation. In response, women organized strikes, African Americans formulated the "Don't Shop Where You Can't Work" movement, demanding the attention and action of local and national government. America then saw major advancements in it's technological field, leading to the introduction and development of market segmentation. Market Segmentation in the United States was the movement to the concentration in sub-diving and grouping the country's population of groups based off similar characteristics in order to achieve maximum profit. Market segmentation catered to distinct audiences studying patterns, similarities, and preferences to further it's development and utilization of psychographics. The inevitable development in market segmentation was essential as it incorporated the marketing and advertising fields leading the way for a shift from mass marketing to a more in depth direct focus. Innovation in America like the television was a major source for advertising and selling commodities for the United States. Sales people hired trained advertising and marketing professionals to cater products based on the differences of class, gender, age, race, personality, and lifestyle.

As time progressed, so did American marketers and manufactures as they began their exploration of credit in the segments off different basis like the age, and gender, severely affecting women in a disproportionate way. With this diversification in the American market economy came the movement toward the demand for congress to take action against mistreatment of the market segments, especially women. Congress passed legislation that exiled the discrimination of women on the basis of credit in the consumeristic marketplace. Like women living in the United States, different generations found and used a collective voice in rallying against the mistreatment of the marketplace and its discriminative actions based on characteristics.

American advertisement saw great change throughout its economic history as well contributing to the country's globalized placement. The 1950s and 1960s time frame in the United States advertising field used divisive practices capitalizing off the exploitation of African Americans. The American advertising market economic developmental history in the country was another contributor to the American economy's globalization. Another revolutionary contributor in the United States economies development into a global entity comes from its political field. The field of politics utilized in the fields of marketing and advertising depended on psychographics and market segmentation to various presidential campaigns and predict the attitudes of the population. Tactics developed from advertising and marketing were translated into the political campaigns and positions in office were commercialized. Just as the country saw from the development of market segments came in the politics aspect the; voters segments. With these tactics in American politics, they helped drive the upward trend in consumerism among Americans subsequently making them into a politicized consumer.

The government and political involvement in the economic stimulation during edging times undeniably serves a major part into the consumerism enhancement of the country. Politics and consumerism in the country went hand in hand developing forms of consumer representation like the Monopoly Subcommittee, and the Consumer Federation of America in 1967 as well as enacting policy and legislation to ensure the fairness, and prosperity of the country's economy and the American people that make it up. In all, consumerism in America has a large historical past where it's policies, and idealisms from specific time periods can still be seen in the context that the globalized economy the United States has today. Laws, government entities, and consumer representative entities, established early in the United States they are still in existence today in America contributing to it's present globalized economy.