Worksheet 1
Worksheet 1
Worksheet 1
1. Globalisation, since World War II, is largely the result of planning by statesmen to break down
borders hampering trade to increase prosperity and interdependence, thereby decreasing the
chance of future war. Their work led to the Bretton Woods Conference, an agreement by the
world’s leading statesmen to lay down the framework for international commerce and finance
and the founding of several international institutions intended to oversee the process of
globalisation.These institutions include the International Bank for Reconstruction and
Development (the World Bank) and the International Monetary Fund (IMF).
2. Globalisation, the integration of the world economy, has been a persistent theme of the past
thirty years. Growth of cross border economic activity has changed the structure of economics
and the political and social organisation of countries. Not all effects of globalisation can be
measured directly. But the scope and pace of change can be monitored along four key
dimensions – trade in goods and services, financial blows, movement of people and
communication.
3. In the last two decades of the 20th century, developing countries have adopted globalization
and liberalization as the medium to strengthen their poor economic condition and to increase
foreign investment. This worldwide change brought social and cultural calamity in India. The
worst effect was on Indian culture, the transition being from traditional to modern, national to
global, old to new. Another unfortunate effect is the alienation of the younger generation as
expressed in their rejection of culture and tradition and loss of faith in the social, political and
cultural tradition.
4. Joseph Stiglitz, the Nobel Laureate for Economics in 2001, says in his book Globalization and
Its Discontents, “Western countries acting through the International Monetary Fund and the
World Trade Organisation have failed. They have mismanaged the process of privatization,
liberalization and stabilization.” He further says, “Globalization today is not working, it is not
working for many of the world’s poor. It is not working for much of the environment. It is not
working for the stability of the global economy.”
5. The most drastic impact of globalisation has been the drifting away of modern youth from
familial ties. They wish for independence, privacy and space. As a result, the traditional joint
family system has given way to a nuclear family system.
6. Globalisation, which has become a worldwide phenomenon, has brought different cultures
closer to each other. The foreign channels propagate violence, vulgarity and promiscuity in the
name of entertainment for gaining wide viewership. The Indian media blindly and blatantly
copies their eroticism better than them. As a result, the national channels defining Indian culture
and broadcasting education-oriented programmes have been sidelined.
7. Another impact of globalisation is associated with the problem of unemployment as well. It has
brought machines, new factories and new approaches into the Indian market. Everything is
computerised. The most vulnerable section of society, that is women, are being exploited
continuously. It is a sterile world, where parents consider the girl child a burden.
8. Over the past five decades, the world has seen several models and paradigms which have
failed to provide concrete results. What we really need is a globalised economy, but one which is
placed in a human context. The policies should be introduced in such a way that they boost the
economy and do not affect the very essence of Indian culture. The developing countries need to
improve healthcare, literacy rate, education and most importantly, restore the cultural heritage,
because it is culture which identifies a country. If we want to reap the merits of globalisation, it
should be implemented in this manner. The Western culture should not be viewed as an
alternative to our own culture, but only as a supplement.