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Globalization and how the world has changed in the past 100 years. - Admission Essay Example
Pages 5 (1255 words)
Based on the current rate of growth of world human population, the year 2050 is a fair estimate of when the 9 billionth baby will be born. The rate of scientific and technological advancement in the last few centuries has happened at an unprecedented pace…
As recent as the beginning of the 19th century, societies across the globe were functioning on the feudalistic model, where local landlords and warlords ruled their dominions with brute authority. The agrarian societies of the time quickly gave way to the mass industrial economic models, where, as Adam Smith famously pointed out, division of labor and efficiency of production were given great importance. This era lasted a century and half till the 1970, by which time a new global economic paradigm was beginning to take shape. The 1970s is the pivotal decade in which the neo-liberal economic model (also commonly called ‘globalization’) was being adopted as the core government policy. The United States can be said to have masterminded this transition from industrial-capitalist to the global neo-liberal program. It is not a straight forward case of unrelenting progress from agrarian to industrial to neo-liberal economic structures. If the growing disparity in distribution of health and wealth across the globe is taken into account, then it is easy to get nostalgic about the ‘good old days’. ...