What Are The Benefits Of Globalization?
Higher real wages through lower prices and greater employment opportunities. Real globalization based on free trade, ie: no government interference, allows consumers to purchase products from anywhere in the world based on quality and price. This freedom forces companies to sell higher quality products at lower prices in competition with other companies with similar products. The unrestricted free trade in labour also allows for labour to flow from areas of lower productivity, less capital investment per capita, higher population where wages are lower both nominally and in real terms ie, third world countries, to areas of higher productivity, lower population and higher capital investment per capita where wages are higher in both nominal and real terms, developed countries thereby bringing about an equalization of both labour, goods and income worldwide. This would also tend to eliminate wars as well.
