One good effect of globalisation is improvement in the standard of living. It means that people now have more disposable income to spend on goods and services to materially "enrich" their lives. It doesn't mean that people are happier. It just means that they have more possessions and more money to buy even more possessions. If everyone has the same wants, then inevitable the prices of goods and services will rise over time, leading of course, to inflation.Friday, February 27, 2009
Rising Prices of Foodstuffs
One good effect of globalisation is improvement in the standard of living. It means that people now have more disposable income to spend on goods and services to materially "enrich" their lives. It doesn't mean that people are happier. It just means that they have more possessions and more money to buy even more possessions. If everyone has the same wants, then inevitable the prices of goods and services will rise over time, leading of course, to inflation.