Globalization and Latvian Kulture

The economical system, which most often is linked with Globalization is Capitalism. Capitalism is an economic system, in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. (Online 1) Globalization is good for the large companies, but it is still a bad thing for small companies, because small companies have to face strong competition. It is very difficult to survive in these conditions because large companies are too powerful, and it is hard for the small companies to compete. Large companies are trying to make a monopolistic situation, to make an easier way to increase their profits and to make market full with their products and services. For the consumers it is not good because if only one company offers any kind of goods or services, they can increase their prices and consumers will have no opportunity to make a choice.
To conclude, I can say that there are advantages and disadvantages concerning Globalization. There are many people and each of them have rights to express their opinions about Globalization. However, not always people are informed correctly about this process, and very often people make wrong judgments about the issue. I think that our society needs more information to be able decide their position in this issue.


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