"Globalization can be defined as the ability to produce and good or service anywhere in the world using capital, technology and components from anywhere and to sell the output anywhere and place the profits anywhere" - Peter Jay 1996

Discuss the economic and social consequences of globalization.

"Rather than lead to economic benefits for all people, economic globalization has brought the planet to the brink of environmental catastrophe, social unrest that is unprecedented, economies of most countries in shambles, an increase in poverty, hunger, landlessness, migration and social dislocation. The experiment may now be called a failure." The International Forum on Globalization (IFG) here outlines the economic and social problems of which they accuse increased globalization of being the primary cause. Peter Jay outlines in his definition the areas that globalization impacts and this essay will proceed to attempt to evaluate the affect of this impact on two main...