Discuss the ways in which globalisation has changed work patterns and Essay

Discuss the ways in which globalisation has changed work patterns and labour structures - Essay Example The recent discussions on globalization involve the arguments on its existence, the importance given to it today as compared to the past, the change in the concept of nation and citizenship because of globalization, the importance of globalization as against regionalism and localism. In addition a crucial debate is continuously rising on weighing the positive and negative impacts of globalization and exploring the people who are directly or indirectly influenced by the changes brought in by this concept. Globalization is a comprehensive and broad topic and covers a huge list of important issues including economic, social, political, cultural, religious and moral etc. The definition of globalization is also defined in the light of all these perspectives. As it is defined by James Rosenau, a political scientist, as "a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a particular geograph ic space and its local and established practices" (1997, p.360). Most of the researchers bordered their research on the economic impacts of globalization. ... The microeconomic effects refer to the technological advancements and the impact at individual firm levels, whereas, the macroeconomic effects involve the collaborative analysis of markets for business purposes (Oman, 1994). Pros and Cons of Globalization All countries experience some positive and some negative influences of more and more integration in the world economy. Pros of Globalization The list of positive aspects of globalization includes the excess availability of external finance. This excess amount of finance is helpful especially for the developing countries. The excess availability of excess finance from external sources is evidenced by the IMF, Direction of Trade Statistics Yearbook and World Bank, Global Development Finance, 1999. For instance the increase in capital flows is observed in the East Asia Pacific from 15.8 in 1980 to 36.3 in 1997. Similarly, an increasing trend of capital flows has been observed in Eastern Europe and Latin America. The percentages of this increase varied from region to region. The availability of external finance helped in releasing the constraints on foreign exchange that reduced and somehow suppressed growth and development in 1980s. The availability of foreign direct investments that were included in the new funds cannot be ignored. The concept of foreign direct investments is encouraged by the governments of the developing states. Foreign Direct Investments are encouraged because they improve the capital accumulation process and help the country develop with a faster pace in the present and thereby, affirm its success and prosperity on economic grounds in the upcoming years. Globalization does not only provide direct advantages to the countries influenced by it but