A Contemporary Look at the Social Consequences of Globalization

Abstract

In addition to socio-economic positives, the transition towards a more unified global market also presents systemic challenges for individual consumers, companies and governments. The globalization processes encourage industrial and economic activities resulting in various negative consequences of a predominantly social nature such as: loss of national sovereignty; offshoring and job losses; poverty and growing inequality in terms of earnings; environmental and climate changes. The present article offers a contemporary look at their development and significance for preserving life on our planet.