The Elimination of the Middle Class Essay -- Globalization Economics

Globalization is the process by which regional economies, societies, and cultures have become integrated through a global network by transportation, communication, and trade. Through a global lens the process of globalization seems to be vital to the development of the modern world. As a result of globalization there has been a dramatic transition in every aspect of life around the world, more specifically in areas such as trade, immigration, and human development. International trade bolsters sales, lowers the cost of production and consumption, and extends the market reach of any corporation. This is beneficial to America in that consumers are able to buy more goods and services at lower costs and therefore the gross domestic product rises. In addition, with domestic consumers able to market their product on a global level foreign consumption rises. Immigration brings some of the same benefits as trade. Immigrant workers statistically work for lower wages and take jobs that are pu rportedly unappealing to native workers. This results in a lower cost to employers and an influx of workers. Whether legal or illegal, additional workers result in economic growth. Finally, globalization has facilitated human development through cultural diversity, broadening ideologies, and creating beneficial competition between nations. However, because the U.S. protects its citizens with labor laws and livable wages millions of manufacturing jobs are lost to inexpensive, overseas counterparts. While there are many benefits to fusing the world, globalization comes at a cost, the elimination of America’s middle class. Trade supports more than 50 million American workers who are employed by companies that export their goods, accounting for almost 40... ... ease of transportation and sharing of information people are now exposed to infinite worldviews and ideologies. Nations are able to use each other as benchmarks for improving themselves and improving the conditions of their citizens. However, globalization has also created an environment that forces companies to send jobs abroad to remain competitive. The bulk of these jobs belong to the American middle class. If current trends continue the middle class will disappear and the United States will have only the rich and the poor with great disparity in between. Works Cited http://www.heritage.org/research/reports/2007/04/why-free-trade-works-for-america http://www.uschamber.com/international/agenda/benefits-international-trade-and-investment http://www.usimmigrationsupport.org/contributions.html http://www.pbs.org/now/politics/outsource.html