How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes?

Need a paper written? Our academic experts can create an original essay on any subject for ~~$13.00~~ $11/page Learn More

Technology change has enhanced globalization by increasing the amount of information being transferred. The information is transferred at low costs, which is very useful in emerging markets because it helps to raise opportunities due to plummeting global communication costs. In general, vast changes in technology have influenced the high globalization of world markets and production. However, according to the endogenous trade model by Econ, these vast technological changes will affect wages significantly, and these changes might even exceed the magnitude effects of traditional wages and other sectors.

This is because for longtime, technological inventions have been associated with economic, social, and institutional changes, but this has changed in the last decade, this includes the current upheaval over e-commerce, digital government, virtual and all “dot.com” organizations because it appears that the so-called “internet time” compresses development so tightly which makes it not easy to determine what is going to be reflected at the end of a given time period and the real “new thing” that is going to happen is uncertain.

Rate the answer:

Further research on topic

Communication Technology and Globalization

Answer by Academic.tip's expert

An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2022) 'How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes'. 10 November.

Reference

Academic.Tips. (2022, November 10). How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes? https://academic.tips/question/how-have-changes-in-technology-contributed-to-the-globalization-of-markets-and-production-would-the-globalization-of-production-and-markets-have-been-possible-without-these-technological-changes/

References

Academic.Tips. 2022. "How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes?" November 10, 2022. https://academic.tips/question/how-have-changes-in-technology-contributed-to-the-globalization-of-markets-and-production-would-the-globalization-of-production-and-markets-have-been-possible-without-these-technological-changes/.

1. Academic.Tips. "How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes?" November 10, 2022. https://academic.tips/question/how-have-changes-in-technology-contributed-to-the-globalization-of-markets-and-production-would-the-globalization-of-production-and-markets-have-been-possible-without-these-technological-changes/.

Bibliography

Academic.Tips. "How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes?" November 10, 2022. https://academic.tips/question/how-have-changes-in-technology-contributed-to-the-globalization-of-markets-and-production-would-the-globalization-of-production-and-markets-have-been-possible-without-these-technological-changes/.

Work Cited

"How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes?" Academic.Tips, 10 Nov. 2022, academic.tips/question/how-have-changes-in-technology-contributed-to-the-globalization-of-markets-and-production-would-the-globalization-of-production-and-markets-have-been-possible-without-these-technological-changes/.

Copy