While some historians trace the history of globalization back to classical antiquity, most agree that modern globalization begins with industrial and imperial developments in Western civilization and their subsequent worldwide impact. Both of these components are intrinsically connected to the expansive character of 19th century capitalism.Know More
The first glimpses of globalization occur in the ancient world, where thriving trade networks developed in the Mediterranean world and in the Indus River Valley. By the Islamic golden age, these markets were integrated, and cosmopolitanism was enhanced not only through trade, particularly by Jews and Muslims, but through the pilgrimage-oriented faith of Islam itself. By the early modern period, trade, exploration and colonialism brought new sources of raw materials and burgeoning markets for European states. It also saw the rise of capitalism and the advent of a powerful European merchant class.
By the 19th century, European conquest and imperialism interwove Western economies with others worldwide more deeply than ever before, leading to a more recognizable regional separation between industrial and agrarian economies, while the world economy itself became almost completely devoted to capital accumulation. While the process of globalization lagged after World War I, it rebounded in the decades following WWII, largely due to significant reductions in shipping or transportation costs, the elimination of many tariffs, more consistent support of intellectual property rights across international boundaries and the creation and sustenance of specialized subsidies for both small businesses and global corporations, just to name a few.
By the 20th century, advances in communication and social media technologies contributed to increased capabilities in crossing cultural and linguistic barriers, another boon for globally integrated business.Learn More
There are no officially recognized beginning and ending dates for the Korean War, as neither the United States nor North Korea ever made an official declaration of war. The war also ended in a stalemate, meaning that North and South Korea are technically still at war, despite the fact that, as of 2014, the countries have few, if any, armed conflicts.Full Answer >
There is no specific date that marked the beginning of the Cold War, but most agree that it began shortly following the second World War, somewhere from 1945 to 1947. Unlike other wars, the Cold War never involved actual fighting or traditional war events, but instead describes a prolonged tense state between the United States and Russia.Full Answer >
Globalization has both benefits and disadvantages. Some of the benefits of globalization include more efficient markets, wealth equality, beneficial partnerships, increased opportunities and new solutions to problems. The shortcomings of globalization include unhealthy competition and over-exploitation of the environment.Full Answer >
Michelangelo Buonarroti created numerous masterpieces that had a part in defining Western civilization and that have been admired and studied for centuries. He is widely considered to be one of the greatest artists who ever lived.Full Answer >