How technology fasten the process of globalisation?
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Keywords: technology and globalization essay, effect of technology, technology global effect. This technological development has helped globalise the world economy...
Technology is understood to be the driving force of globalization that began in the 18th century and has continued ever since to the 21st century, in-between three industrial revolutions have taken place. The 1st industrialization revolution was in the 18th century that took place in manufacturing industries. The 2nd industrialization revolution was in the services industries. The 3rd industrialization revolution of the 21st century which we are going through is know as information age as described by Adam Smith.
This technological development has helped globalise the world economy and it is also known as the "Kondrative long Wave process" (K-wave) [3] . As the diagram below shows:-
The diagram describes the tends of technological changes that have taken place since the industrialization revolution, relating from production, distribution and communication, that has fuelled the globalization. It has brought about innovation and interaction between nations that weren't possible before. That has led to some of the greatest invention that revolutionized trade, communication and interaction to a whole new level and increased globalization .As Thomas Friedman's said "Globalization is not a choice. Basically, 80% of it is driven by technology" [4] .
According to Cable (1995) Transportation costs are falling with improved physical communication with the help of improved technological advances in telecommunication, computing, fibre optics and satellites. [5] Which has resulted in the speeding up of information flow and the transportation of goods across nations more quickly and efficiently . This is being achieved through the technologies mentioned above, that is at the heart of the communication and transportation globalization, which is ongoing. Joseph Schumpeter has called it a "glaze of creative distraction" [6] . Take for instance transportation system wouldn't have
Technology is understood to be the driving force of globalization that began in the 18th century and has continued ever since to the 21st century, in-between three industrial revolutions have taken place. The 1st industrialization revolution was in the 18th century that took place in manufacturing industries. The 2nd industrialization revolution was in the services industries. The 3rd industrialization revolution of the 21st century which we are going through is know as information age as described by Adam Smith.
This technological development has helped globalise the world economy and it is also known as the "Kondrative long Wave process" (K-wave) [3] . As the diagram below shows:-
The diagram describes the tends of technological changes that have taken place since the industrialization revolution, relating from production, distribution and communication, that has fuelled the globalization. It has brought about innovation and interaction between nations that weren't possible before. That has led to some of the greatest invention that revolutionized trade, communication and interaction to a whole new level and increased globalization .As Thomas Friedman's said "Globalization is not a choice. Basically, 80% of it is driven by technology" [4] .
According to Cable (1995) Transportation costs are falling with improved physical communication with the help of improved technological advances in telecommunication, computing, fibre optics and satellites. [5] Which has resulted in the speeding up of information flow and the transportation of goods across nations more quickly and efficiently . This is being achieved through the technologies mentioned above, that is at the heart of the communication and transportation globalization, which is ongoing. Joseph Schumpeter has called it a "glaze of creative distraction" [6] . Take for instance transportation system wouldn't have
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