The stated factors belong to the concept of economic globalization, which implies the process through which states and corporations expand to the global scale. Globalization is a complex aspect, which affects and is impacted by cultural and political factors. Markets denote the combination of institutions, systems, infrastructures, systems, and procedures for exchange. In economics, alienation can be described as the isolation of people from functions of human nature because of stratified social classes. Global inequality is synonymous to alienation and it entails economic inequalities between countries (National Research Council, 2010). Together, these factors contribute to economic globalization, which affects daily life as reflected through access to information and markets, economic power and living standards, and job displacement and disappearance.
Globalization has enhanced technological development, which has facilitated such processes as efficient communication. The inception and development of the internet has facilitated various operations. For example, I can do online shopping, send and receive money both locally and internationally, and engage in online interactions such as social media interactions with my friends. Banking, online shopping, and communication are aspects of daily life. Technology has also enabled me access information through social media and Google. Access to markets entails ecommerce where I can purchase products and services online. For example, I recently purchased a smartphone on Amazon. In turn, technology affects living standards by creating opportunities. For instance, a person can learn about a job posting and apply for the post online. Moreover, Schwartz (2014) argues that people work to gain technology or skills, which are intangible values. However, Goldin (2009) warns that such technological advancements may not offer such benefits equally through alienation or limited access for some people such as those in the rural regions. Equally, technological advancement can contribute to job disappearance and displacement through the introduction of machinery. However, he also points that the recognition of this disparity and appropriate use of government power can inform strategies toward improving everyone’s quality of life through enhanced accessibility.
References
Goldin, I. (2009). Navigating our global future. TED Conferences. Web.
National Research Council. (2010). Understanding the changing planet: Strategic directions for the geographical sciences. National Academies Press.
Schwartz, B. (2014). The way we think about work is broken. TED Conferences. Web.