A few days back, I read an article read by Swaminathan Ankleseria Aiyer in Economic Times. It talked about the impact of globalization over the society. This sparked an idea inside my mind. I may be right or wrong, the readers have to decide, and please express your opinion.
The hottest discussion today is whether globalization is a boon or a bane. This discussion runs continuouly everywhere - in b-schools, in parliments, in coffee-shops, and in all the countries where people have right of speech and expression. The biggest fire ball that is thrown on globalization is that it makes rich, richer and poor, poorer.
Is this claim true? Is it true for countries? Yes and no. There are some countries, the economies of which faced a declivity as a result of globalization. But there are also countries like India, China, Brazil which use globalization as a fulcrum for their growth.
Is this claim true for individuals? Again yes and no. For yes, no example is required. It doesn't matter whether globalization is running or great depression is running, most of the unfortunate poor become poorer. People in some African countries have reached the poorest possible condition, that they can't go any further poorer. But the answer is also no. There are a lot of first generation millionaires who came up as a result of globalization. Earlier, the Forbes' richest list usually contained Sultans, and barons who were richest, because their fathers were richer and grandfathers were rich. Now, the situation is different. Bill Gates is the richest according to the recent most list. But he was not born in a rich family. So was the second ranked Warren Buffet - a newspaper boy, who ended up as the most successful investor.
What should we learn from this? All the richest people during the globalization are innovative. They are all experts in their business. They all had killer instinct and some luck during the start of their business, because the other innovators and experts did not become or did not choose to become this successful. But above all these, they all used the oppurtunity, that knocked their door. They all used globalization as an opportunity, and they all came up.
So globalization is neither a boon, nor a bane. Whoever can use it as an opportunity succeeds and whoever misses it, is carried away.