Posted at 12.13.2018
Keywords: technology and globalization essay, aftereffect of technology, technology global result. This scientific development has helped globalise the planet economy. . .
Technology is thought as the driving power of globalization that started in the 18th century and has sustained ever since to the 21st century, in-between three commercial revolutions have taken place. The very first industrialization revolution is at the 18th century that occurred in manufacturing market sectors. The 2nd industrialization revolution was in the services sectors. The 3rd industrialization trend of the 21st century which we 're going through is know as information age as identified by Adam Smith.
This technical development has helped globalise the entire world economy and it is also known as the "Kondrative long Wave process" (K-wave). As the diagram below shows:-
The diagram describes the tends of technological changes which may have taken place because the industrialization revolution, relating from creation, circulation and communication, that has fuelled the globalization. It has brought about invention and relationship between countries that weren't possible before. That has led to some of the greatest technology that revolutionized trade, communication and conversation to a whole new level and increased globalization. As Thomas Friedman's said "Globalization is not a choice. Basically, 80% from it is motivated by technology".
According to Cable (1995) Transportation costs are dropping with upgraded physical communication by using improved technological developments in telecommunication, computing, fibre optics and satellites. Which includes resulted in the accelerating of information circulation and the travelling of goods across nations more quickly and efficiently. That is being achieved through the technology mentioned previously, that is at the heart and soul of the communication and travel globalization, which is ongoing. Joseph Schumpeter has called it a "glaze of creative distraction". Take for example travel system wouldn't have been permitted without the technology off "steam engine unit in 1796 problems solved by Adam W"
The diffusion of steam engine technology to streamline ships, with the help of propulsion technology and the release of "Jet Aeroplanes in 1950s" brought about new dynamics of globalization which includes allowed versatility in movements of labour openly. This innovation has allowed substantial economic expansion to take place and triggered "Global Shrinkage, " in conditions of distances. As the Diagram below illustrates about how travelling ranges have been reduced over time and made world smaller: -
The diagram shows the Global Shrinkage: the effect of changing transportation technology on Real ranges. Improvements manufactured in transportation and the development of containerization allowed goods to go from destination to place and continent to continents ever since its launch in "1956 to go goods from Newark, NJ to Houston Tx through the Gulf of Mexico". Shipping jacks around the world have cranes created to lift the containers more efficiently and so saving cash and speeding trade. Compare to pre-containership period of 1960s where trade was sluggish and unreliable that also fall season due to inclement weather or thieves. As Economist Paul Kurgnam says that the effect is "new financial geography" requiring new theories of location and trade. The changes have been both technological and political.
Technological development has helped increased globalization. A perfect example of technical globalization is the fact China and India have benefited economically as solutions like airplane, box boats have allowed China to export its goods to European countries and US vice versa and allowed countries to exploit their comparative advantage in trade. Article known as "The box that changed the world" printed by Virginia Postrel in New York times re-enforces the idea that" Low transportation costs help to make it economically reasonable for a stock in China to create Barbie dolls with Japanese hair, Taiwanese plastics and American colorants, and dispatch them off to excited girls all over the world, " writes Marc Levinson in. . . "The Field: How the Shipping Container Made the planet Smaller and the planet Economy Bigger".
According to "Kondrative Wave" (K Wave) system we are in the fifth circuit that is known as the "Information Years". THE WEB /World Wide Web has been the biggest thing to emerge from Information technology breakthroughs. That has revolutionized how information is transferred or its availability thus creating an economy based on knowledge. THE WEB has been referred to as "a decentralized, global medium of communication composed of a global web of connected networks and pcs. " As people across countries can trade and communicate instantaneously economically, for example e-mail has allowed instant communication through the World Wide Web, World Wide Web on the other has made "World One" as countries can now trade with one another, all made possible due to the cost effectiveness technical progress like the internet /world large web. Where information is been exchanged at a worldwide level instantaneously. As "Information is the new mantra that spells success in the modern world"
Technology like the web has given climb to E-commerce; E-commerce that identifies business conducted through method of electronic communication sites like Internet. That has caused new dynamics to the globalization of businesses. Where exclusive business can be setup and operate worldwide with no barriers stopping them. For instance business like Amazon, Edges and eBay which may have sprung up because of Internet have altered the way small business operate and also have given chance to individuals to type in these global markets. As Internet help provides a cheaper faster way of communication between business and its own consumers worldwide.
Another sector that has seen the biggest impact because of technological globalization is the financial sector, where diffusion of information structured technology has made possible people across the world to trade 24/7 trading has transferred to digital system from the physical system earning money move more effectively and on a faster level, thus allowing more participation of those people who are linked with the internet.
Technology has also impacted the ethnical globalization with innovations like cell phone and television. Cell phone has made it feasible for any one to talk to each other no matter where they are geographically on the planet, all permitted by using satellites and mobile phones that has permitted to produce a call, receive e-mail, text messages and even allow video recording call. It really is due to scientific advancements manufactured in the field of communication, as seen no countries are now really apart. All made possible due to technological discovery in communication that contain revolutionized business, business, and linked thousands of people. Television on the other palm has connected elements of world, where they feel and see and never have to leave the room. On TV'S by just a touch of the distant button, which allows people to explore worlds on different stations it is made available because of Internet, communication developments and by making use of sounds and visual that are transmitted through the TV. Communication technology has brought the world deeper and people nearer no matter where they are on earth.
We have found out that form the 1st industrial revolution Technology has already established a great impact in the globalization as it help sign up for the world mutually, where distance is no hurdle for trade and is considered to be an important part of economical globalization activity. As Friedman remarked that 80% of globalization is technology powered. The technical development made in areas like communication and the invention of mobile phone and Mobile phones all by making use of satellites has made help removed the time and distance that has thrilled before. Transport on the other hand has allowed trade to occur more successfully and cost effectively by making use of the containerships, Aircraft Aircraft and electric trains. It offers helped facilitated progress between countries, as countries have the ability to take good thing about their comparative advantages as large goods can be exported and imported between countries.
The get spread around of it has made development networks cheaper and easier, all made possible because of digital networks like the Internet that is affordable. It has been one of the essential economical globalization factors that have helped overcome the friction of distance and time. Without these technical advancements globalization wouldn't normally be made possible or even achieved As the K-Wave shows the types of technologic advances at different periods of industrialization and there monetary impact that all began in the later 18th century.