Globalization and Its Ethical Implications

  • 2 years ago

Globalization and Its Ethical Implications

The change of our world from a local economy to a national economy to a global, international economy means that increasingly diverse populations will have to work together to achieve common goals. However, as the economy becomes increasingly global, local economies and people may suffer economic disadvantage or may find themselves marginalized from the rest of the world. Globalization creates ethical dilemmas for which we will need to find solutions.

For this discussion, address the following questions: 

Explain the implications of globalization.
Identify at least two ethical issues that go along with the global societal topic you have chosen for your final essay.
Explain how globalization contributes to or affects these ethical dilemmas.
Propose solutions to these ethical dilemmas that are feasible financially, socially, and culturally.
Your initial post should be at least 250 words in length, which should include a thorough response to each prompt. You are required to provide in-text citations of applicable required reading materials and/or any other outside sources you use to support your claims. Provide full reference entries of all sources cited at the end of your response. Please use correct APA format when writing in-text citations

Globalization refers to interaction and integration among people, companies, and governments from different nations. The factors that fuel globalization include international trade, investment, and technology. Globalization has had far-reaching implications. It has promoted technology development, improved access to goods and services, and steered economic activities. However, it has led to various ethical and societal challenges.

Two Ethical Issues Related to Globalization:

Labor Exploitation: The search for cheaper labor has made many companies set up factories in developing countries where employment laws are neglected. Workers are often subjected to poor working conditions, long hours, and low pay.

Environmental Degradation: Many companies outsource their manufacturing operations to countries with less stringent environmental regulations, leading to pollution and the depletion of natural resources.

How Globalization Contributes to These Ethical Dilemmas

Labor Issues: Globalization encourages a race to the bottom where companies constantly seek ways to cut costs. In countries with less robust labor laws, exploitation becomes easier and more prevalent.

Environmental Issues: Because globalization often involves the movement of goods across borders, it increases the carbon footprint. Additionally, companies aiming to minimize operational costs often neglect environmental regulations.

Proposed Solutions

Companies can adopt and enforce universal labor policies in all locations. Governments can enact legislation that holds companies accountable for unethical employment practices overseas. Although this approach might cause a slight increase in the cost of production, it can improve brand image and promote long-term sustainability.

Countries can also establish international environmental standards that companies must meet regardless of location and operations. Since firms must invest in cleaner technologies, they can build a sustainable brand image while protecting the environment.

We can create a more equitable and sustainable business environment by enforcing these ethical considerations through legislation and corporate policy.