What are the connections between technology and globalization?
Interesting question. One factor is that global markets justify greater investment in technology and capital equipment, especially as technology tends to give returns to scale. Thus the early development of the cotton mills was funded by selling the resulting cheap cotton all over the world. Another factor is that globalization clearly encourages the development of technology as it is harder to keep outsiders out, so local industry has to compete harder, which means taking advantage of whatever is available, including technology. A growing factor is that globalization creates more technology to take advantage of. For example, Japan has been generating a great deal of new technology that Europe and the U.S. have been able to use. (Note how about half of all U.S.
