Globalization and Localization as Feedback Mechanisms - Internalization of Economic Externalities
Philosophy for Business, Vol. 5, No. 50, December 16, 2008
16 Pages Posted: 26 Feb 2009 Last revised: 30 Mar 2009
Date Written: December 16, 2008
While globalization has created changes across the social, cultural and economic dimensions by challenging status quo positions, it has also led to a call for more localization. This article analyzes how the opposing forces of globalization and localization are interlinked and provide feedback function for each other. The joint impacts of globalization and localization forces, their origins and philosophical implications to the 'One World' paradigm are discussed.
Keywords: Globalization, Localization, Economics, Externalities, One World
JEL Classification: D6, D7, O00, P00, Z10
Suggested Citation: Suggested Citation