Analysis of globalization with regard to welfare Chen, Sean
Globalization has been a system that is both criticized and applauded. This paper will look at the relationship between globalization and welfare. It will ultimately attempt to answer whether or not globalization increase or decreases welfare. One side argues that globalization increases welfare because it is making the world more efficient and that there is statistical evidence to prove its necessity. The other side argues that globalization decreases welfare because it often achieves efficiency at the cost of the poor and the environment. The result of this paper demonstrates that globalization increases welfare but at the expense of the environment. Statistical evidence has shown that globalization leads to an increase in both consumption and development but decreases poverty. Globalization creates negative environmental damage in which the global community will have to address and evolve in a way where globalization becomes sustainable.
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