Ethics And Globalization

The world has been utterly transformed in recent years by a phenomenon affecting us all, what we call globalization. Although there was a time when it was possible for citizens of one country to think of themselves as owing no obligation to the people of other nations, admittedly that was long ago. Today national borders have less meaning as issues of trade, environment, and health, along with incredible technological advances of the last century, have left us with a legacy of connectedness we cannot ignore.

We know globalization involves complete economic liberalization, i.e., opening doors to big businesses. Multinational corporations are at the forefront. Globalization wants the governments around the world to create an environment that is as conducive as possible to its growth of business. Regional groupings like APEC, GATT and WTO are totally committed to the same goal. The connection between big businesses, governments and regional and international institutions to create an environment for globalization is not an accident. It has historic roots in colonization, and as such, the dominant forces behind globalization are based in the developed world. Nonetheless, it would be wrong to describe globalization today as a replica of the Western colonial experience only. This is because one of the centres of power is based in Japan. Other centres of control in Northeast and Southeast Asia are emerging.

In reflecting on the good and bad sides of globalization we find that whatever good has come out of it is actually a by-product. The very motive, maximizing profit is responsible for its bad sides. So, globalization may well be one of the most serious challenges ever to the integrity of human civilization. Since society and culture hold some positive aspects it is important that it is not completely rejected. Ethics and moral standards should be injected into some economic activities as a short-term and medium-term strategy. The market should be regulated by ethical principles. The challenge is to devise ethical economically-sound policies built into the globalization process that are in keeping with values. I mean, the economic dimensions of globalization are not the only factors that need reconsidering. Culture should be guided by moral universal values whereby a strong ethic of restraint is within one culture is applied to prevent the dominance of another culture. The internationalization of the ethical values within the consciousness of the individual and the community could be the only hope for humanity. It is almost impossible to effectively censor all information through the Internet, satellite, etc. The individual who derives his/her value-system should be guided by time-honoured principles of what is right and wrong. Such individuals are the real antidotes to the bad effects of globalization.

Positive aspects of Globalization

Ø Foreign Direct Investment (FDI) has helped to reduce poverty by creating jobs and improving incomes.

Ø The expansion of trade and foreign investment has accelerated social mobility and strengthened the middle class.

Ø New communications and information technology have helped disseminate knowledge in many fields of study and disciplines.

Ø Communication is cheaper and easier. Costs of telephone calls as well as travel have fallen. This makes it easier to understand one another. Communities although heterogeneous, can be more cooperative now that are more means of understanding each other.

Ø Globalization makes it possible for humanity to have compassion for each other when calamities, natural or man-made, affect others.

Ø Issues such as human rights and public accountability are brought to the fore.



Ø The rights of women are highlighted and the problems many women face are now addressed.

Negative aspects of Globalization

v Environmental degradation due to unrestrained activities of multinational corporations whose sole aim is to multiply profits.

v Although poverty has been reduced to a certain extent, new economic disparities have been created. There are stark regional disparities in poverty.

v Basic necessities in life are set aside in favour of profits. Many developing countries have been occupied with facilitating foreign investment in industries that are lucrative to foreign markets and discarding the most fundamental needs of the people.

v Globalization aids the removal of national controls over cross-border financial flows. Dramatic outflows of capital from one country to another have caused havoc in some currencies, particularly in Southeast, and South Asia including Bangladesh.

v Advances in technology aggravated by the outflow of capital to low cost production sites in the developing countries has caused growing unemployment in the developed countries, which is an cause offence to human dignity.

v Globalization has popularized the consumer culture. Consumerism has given birth to materialism where people are more interested in what they have rather than the essential aspects of humanity.

v Global consumerism is now forming a homogeneous global culture where rich indigenous cultures of many developing countries are being replaced by cultures with vibrant economies.

v Formal education systems are emphasizing technical and managerial skills responding to market demands and leaving aside traditional academic subjects. This means that education is nothing more than acquiring specific skills and techniques to do business and less emphasis on development of social or basic sciences.

v Although the IT boom has given rise to an expanse of information there is a lot of information that is useless and meaningless causing people to be pre-occupied with unimportant things.

v Double standards are present in the human rights aspect of the present world where they are used as part of many governments’ policy but only when it suits them.

Because of globalization we have some advantages and disadvantages. We are human beings. Take good things and leave bad things. The policies of some developed countries are not good for developing countries. The ethical value decreases day by day. The business person gives more important for profit only. Organizational ethics is very important.

Centre for Globalization

The Yale Center for the Study of Globalization uses a variety of means to explore globalization and promote the flow of ideas pertinent to our core issues. The activities organized by the YCSG are designed to interconnect in ways that will further the Center’s mission and enable us to achieve our goals. It is necessary to establish this type of centre in our university also. In the modern generation also computer literacy is very low in our community. It is very sad thing that our students have no interest to learn computer education. It is very necessary in the scientific and technological world.