The Link Between Globalization and Political Instability | Summary and Q&A

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July 14, 2017
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Stanford Graduate School of Business
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The Link Between Globalization and Political Instability

TL;DR

Globalization has led to job transformations, causing political instability and shifts away from traditional left-right politics.

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Key Insights

  • πŸ‡ΊπŸ‡Έ In the 1800s, the United States underwent significant occupational changes from farming to industrial work, leading to urbanization and societal challenges.
  • πŸ₯³ From the 1950s to the 1970s, industrial workers in many parts of the world had stable jobs with benefits, but globalization, automation, and supply chain management disrupted this equilibrium.
  • ↔️ Political stability has been challenged by globalization, leading to the rise of non-traditional candidates and shifts away from traditional left-right politics.
  • ❓ Globalization has brought both wealth and inequality, with some individuals benefiting greatly while others struggle to compete.
  • πŸ’„ The complexity of globalization makes it difficult to find political and economic solutions that address the concerns of different countries.
  • πŸ€‘ Globalization has led to the influence of finance, money, and businesses in decision-making, with economic factors taking precedence over political solutions.
  • 🌍 The world market created by globalization has resulted in winners and losers, making it necessary to address inequality and its societal consequences.

Transcript

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Questions & Answers

Q: How have jobs changed due to globalization?

Globalization has shifted occupations from farming and domestic work to industrial jobs in the United States, but automation and supply chain management have led to job losses and economic changes.

Q: What are the consequences of job transformations?

Job transformations caused by globalization have led to political instability, as traditional left-right politics are being challenged by non-traditional candidates and shifting voting patterns.

Q: What are the effects of globalization on wealth inequality?

Globalization has created a world market where some individuals, like actors, can earn enormous amounts of money while the best carpenters or plumbers struggle to compete, resulting in increased wealth inequality.

Q: How does globalization affect political solutions and campaigns?

While globalization has lifted billions of people out of poverty, it is challenging to run political campaigns solely on its positive impacts, as local politics often prioritize solutions that benefit domestic interests.

Summary & Key Takeaways

  • In the United States, there has been a significant shift in occupations from farming to industrial work, leading to urbanization and various societal issues.

  • From the 1950s to the 1970s, industrial workers enjoyed stable jobs and benefits, but automation and supply chain management led to job losses and global economic changes.

  • This job transformation has resulted in political instability and the rise of non-traditional candidates, causing shifts in voting patterns and center-periphery politics.

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