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Essay text:
According to Carbaugh,
globalisation has political, technological, cultural and economic dimensions.
Martin Wolf says that globalisation is about a movement towards greater
integration of countries, as both natural and man made barriers to international
economic exchange continue to fall. Wolf goes on the say that a necessary
consequence of such a process of integration is the increased impact of
economic change in one part of the world on what happens in other parts of the
world. Globalization is not new. The economic historian Angus Maddison has
calculated global and per person income for the last 2000 years, and his figures
show that global growth recorded its greatest increase in the middle part of the
nineteenth century (Table 1)...
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