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"Globalization today is not working. It is not working for many of the world's poor. It is not working for much of the environment." (Stiglitz, 2002)

Globalization is a long-term historical process of world integration involving social, economic and political changes as a result of technological advances. As McLuhan (2001) says, "The concept is of one being connected by an electric nervous system within which the actions of one part will affect the whole". Globalization has the potential to benefit the world as a whole when the removal of barriers to free trade and a closer integration of national economies are successful. However, the mismanagement of the processes especially in the form of privatization has often created more problems. Most disturbingly this mismanagement has caused a serious deterioration of people's quality of life and increased the deterioration of the environment.

While the term globalization may be rather new, the concept is not. In the late 19th......

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Approximate Word Count: 641
Approximate Pages: 3 (250 words per double-spaced page)

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