Historical Globalization

To what extent should society and governments respond to the long-term impacts of historical globalization?

Globalization has over the years resulted in certain undesirable effects, key among them being unemployment, wealth inequality and Increased levels of pollution, to name but just a few of the effects. Globalization may also result in lower income levels as the same job opportunities are open to many people across the region and globally (Get Smarter, 2019). Lack of High levels of unemployment due to globalization might trigger an increase in crime rates and with it, higher levels of incarceration (Indigenous Corporate Training Inc., 2019). Depression levels may also increase, thus also increasing suicide rates in the population. To this end, societies and governments have an important role to play in addressing the long-term impacts of historical globalization.

At the community level, societies can commit to promoting local industries as a means of creating employment. Societies can also lobby to have the government enact laws that will reduce environmental pollution by local industries. On the other hand, the government can deal with the negative effects of globalization by among others, developing policies that promote the adoption of advances in science and technology to an increase in innovations. This will help to create more avenues for job creation. Innovations create a globally competitive workforce (Get Smarter, 2019). The enactment of economic policies and Investment in education will also go a long way in reducing economic inequality. Additionally, the government can implement policies that will result in an increase in the minimum wage. Moreover, when the government is committed to creating an environment that is conducive for businesses to thrive, such businesses will attain growth. Consequently, such business can increase their workforce, leading to increased employment. This can help to reduce the rates of unemployment and hence, reduce the number of incarcerations recorded.

References

Get Smarter (2019). The historical impact of globalization on economies and business. Retrieved
from https://www.getsmarter.com/blog/market-trends/the-historical-impact-of-globalisation-on-economies-and-business/
Indigenous Corporate Training Inc. (2019). 8 key issues for indigenous people in Canada.
Retrieved from https://www.ictinc.ca/blog/8-key-issues-for-indigenous-peoples-in-canada