Free «Globalization and Technology in the 21st Century Economy Essay» Essay Sample

Information Technology is an extremely fundamental tool in any countries path to economic stability and prosperity. As depicted in the journal, it promotes globalization a great deal by increasing foreign investments, international trade and is a source of comparative advantage (Baum, 2004). It has also mentioned that Information technology itself can be termed globalization. There is more to this definition than meets the eye. The key words here are free, healthy life and safe environment. Meaning, there are underlying factors that must be met by any country before other factors come into play for a state to be considered developed (Berger, 2009).


In relation to the evidence in the journal, it is stated that most of the irregularities in the globalization in the developing countries is caused by their lack of incorporation of information technology in their economic sector. It is a correct sentiment and one full of plenty of evidence (Bhagwati, 2006). Hard to complain about, but, if it was to be used to explain the unevenness of globalization in the developing countries then there is a reason not to agree with James. There is a much greater array of problems at the foundation that make third world countries remain third world. These problems are so critical and wide spread and must be solved entirely for other factors such as information technology to be tackled (Kagan, 2009).



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What is information technology to a population that has no food security? Food is considered to be an important as well as a basic need for any population to grow and prosper. With most third world countries having little or no food, to sustain it's people, thought of investing on IT is quite far reached. Most of the developing countries rely on aid while others have a majority of it's land under commercial food production while others have unfavorable conditions that prevent survival of crops. A healthy nation is growing nation this is why such problems require attention and action of concerned parties (government, NGOs etc) in order to be dealt with and finished completely (Kaplan, 2008).

What is information technology without peace among a nation’s people or stability in government? Well, the answer is, it is needed, but not at the moment, because at the moment, the fighting communities in developing countries should become peaceful and united (Newman, 2009). Take an example of Somalia, with it's legal structure divided into religious, civil law as well as customary law. Due to economic social and political differences the country has always been in war, fighting over power that no one seems to be winning. If such a people where to be introduced to information technology, chances are they would use it to organize their troops and get more weapons to finish their ‘enemies’ rather than use it to influence globalization (Verma, 2005).

Most leaders still have thirst for power and corruption in the majority of these countries. A divided government with corrupt leaders is a doomed democracy. Information technology will only enable their poor leadership to affect all the people under their rule hence deter development of the nation.

The article shows that transport and communication are aspects of the economy that must work together in the development process. Therefore, the above claim will apply only to countries with a transport system in the first place, which majority of third world states lack. Infrastructural development is poor in these countries, and if the writers’ statement was to be applicable to the uneven globalization, then there must be a good transport system present before information technology is put in place (Sondgrass, 2007).

Another major problem that must be addressed before information technology is the issue of illiteracy (Bhagwati, 2006). Most of the citizens of developing nations are not literate. Education has not reached everyone, and it’s not of a good quality. Most of the citizens are not able to use information technology equipments and gadgets that come with the information technology like faxes, computers without knowledge on what they are and how they function. The aspect of education quality means that most of the education systems, based on their curriculum, lack specialization. Most graduates end up specializing in what they are not gifted in doing or talented or interested. This creates a bulk load of a non-specialized misplaced work force that cannot work together efficiently to enable development even with the introduction of information technology (Newman, 2009).

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These are just but a few of the major problems that if solved, then introduction of information technology will be of great advantage and importance to any of the third world countries. No foreign investor will want to invest in a country that lacks peace and stability in both it's social, economic and political aspects. Once such issues are solved, then foreign investors will not even need calling, but instead they will rush in to utilize the opportunity in an economy with potential (Bhagwati, 2006).


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