Globalization has brought tons of life changing affects that have made up our modern world. When looking at it from an economic aspect, you can see the many pros that come with it. To restrain the giant that is globalization is to limit potential growth around us. The advantages of globalization are actually much like the advantages of technological improvement. They have very similar effects: they raise output in countries, raise productivity, create more jobs, raise wages, and lower prices of products in the world economy (Gopinath, G. & Parker, C., 2019). With such potential gained from globalization, restraining it would limit the listed pros. Prices would rise from products such as cars from lack of competitors around the world. The “American Dream” wouldn’t be as substantial as it is without globalization. Those who would want to come to America and share their culture in order to make a living from it here would struggle more than usual if we choose to restrain. Not all sides to the story are bad. Through the restraining of globalization immigration to the U.S. would have to be limited as well, therefore lowering the population for the future of our country and lowering the competition for lower wage jobs. This implies robust social safety nets that don’t just catch people who’ve been hurt by globalization, but relaunches them with work supports, ranging from wage subsidies, health and child-care assistance, and a direct job when labor markets are persistently soft (Bernstein, J., 2016). According to Bernstein, “I’m solidly on the record as simply not believing that globalization can be stopped or even particularly slowed. It can be reshaped, however, and there are different ways to go about that.” (Bernstein, J., 2016).
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