Globalization

Miriam Erez

Globalization is the most significant change taking place in today's work environment. It connotes the economic interdependence among countries that develops through cross-national flows of goods and services, capital, know-how, and people. This entry covers mainly the organizational and human aspects of globalization. Globalization has come into common use since the 1980s, reflecting technological advances and electronic communication that have made it easier to create economic interdependence across countries. Globalization is not just a recent phenomenon. But today commerce and financial services are far more developed and deeply integrated than they were in the past. The most striking aspect of this has been the integration of financial markets made possible by modern electronic communication. Twenty-five years ago no one talked of world economy ; the prevalent term was international trade , consisting of international trade and foreign investment. But today it has taken the form of a global economy, consisting ...

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