What are the economic dimensions of globalization?
(8) One of the most important dimensions of globalization is the economic dimension. The rapid transference of information and capital allows for business transactions at a greater pace and with greater intensity. This has resulted in the development of a form of capitalism under very few cultural or governmental controls or regulations. The homogenizing powers of the economic forms of globalization give the impression that there is no alternative to neo-liberal capitalism. These types of economic forces risk intensifying forms of idolatry already in existence within business and financial institutions. Expanding short-term profit margins at all costs has become the mantra and creed of too many businesses. (9) It also represents one of the profound paradoxes of globalization. Despite its potential to improve life for all, it has, at least to this point, widened the gap between a few immeasurably wealthy groups and individuals and the ever-greater number of people imprisoned in economic
