The core challenges of capitalist globalisation are ethical rather Essay

The core challenges of capitalist globalisation are honourable rather than economic Discuss - Essay ExampleAlthough, globalization particularly capitalist globalization is mainly viewed as an economic based process, it can make maximal social impacts in various forms. Whether by dint of business organizations functioning and through different economic based decisions, globalization can make more business and social impacts, and this is where estimable challenges will arise. With globalization mainly carried issue to fulfil economic potential, honourable aspects could be given second preference. That is, when economic opportunities are vehemently tapped through globalization, without focusing on other aspects particularly social aspects and business ethics, ethical challenges could be a major issue. Needless to say in that respect are both die-hard critics as well as ardent supporters of the trend of capitalist globalization, with ethical issues brought into more prominence.W hen the term, globalization is focused from an overall perspective, it can be used to define the practices and processes that are carried out by business organizations, governments, social groups and common passel to interact and assimilate among themselves in different spheres of charitable life, from economical to cultural, social, etc., breaking the geographical boundaries or a particular countrys borders in various, etc.. globalization may be thought of as the widening, deepening and speeding up of ballwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritually. (Wiley, Nandi and Shahidullah, 1998). This definition of globalization was further reinforced by Joseph E Stiglitz, recipient of the Nobel Prize in Economics. He defined it as the closer integration of the countries and peoples of the world ...brought about by the enormous reduction of costs of transportation and communication, and the breakin g down of artificial barriers to the flows of goods, services, capital, knowledge, and people across borders. (2002,