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31 Legit Money Making Apps That Pay Cash

R.J. Weiss, CFP®

• Updated August 15, 2024

What are the highest-paying apps available today?

To find out, we’ve tested the most popular money-making apps. Our goal was to discover which ones are legit and worth your time, ranking them based on their earning potential, ease of use, user ratings, and company reputation.

Our top picks are:

Note : The reviews and ratings below were collected on August 15, 2024. We update this data periodically throughout the year to keep it current.

Table of Contents

Side Cash Apps

To create this list of the best side cash apps, we tested the top survey apps , best cash-back apps and gaming apps that pay .

#1. Branded Surveys

Branded Surveys is a highly-reputable survey platform that’s been around since 2012 and has paid out more than $38 million to its users. 

What makes Branded Surveys stand out is its large inventory of available surveys, which generally take 5 to 15 minutes each and can pay up to $5.

The downside to Branded Surveys in our testing was the high disqualification rate. You may not qualify for all surveys available on the platform, or you may get kicked out after answering a few questions because you don’t fit the demographic. 

Minimum withdrawal : You can cash out once you’ve earned $5, with available options including PayPal, bank account transfer or gift cards (including Amazon).

Download Branded Surveys .

#2. Swagbucks

Swagbucks is a reader and personal favorite for good reason: while you can take surveys, there are also several other simple tasks you can do to make money, such as watching videos, playing games and getting cash-back for shopping online.

While Swagbucks is a solid survey platform, its wide variety of tasks and generous $10 sign-up bonus make it one of our favorite overall money making apps.

Minimum withdrawal : There’s technically no minimum to cash out, but most reward options start at $3 (including PayPal cash and select gift cards).

Download Swagbucks .

#3. Survey Junkie

Survey Junkie is a top market research company with over 10 million members, high user ratings, an “Excellent” Trustpilot score, and a low $5 cash-out minimum. 

It stands out for its large inventory of surveys, allowing for flexible earning opportunities. 

Although there’s no sign-up bonus, new users can complete high-value tasks like profile surveys and watching a video to quickly reach the $5 minimum payout.

Minimum withdrawal : 500 points gets you a $5 transfer to your PayPal account, or you can redeem these reward points for gift cards.

Download Survey Junkie .

#4. Rakuten

Rakuten is a top-rated app that offers up to 40% cash-back at more than 3,500 partnered merchants. Simply search for the retailer in the app, click the link, and shop as usual.

For in-store purchases, link your card and activate cash-back offers before checking out. 

Sign up using this link for a $10 bonus on a qualifying purchase of $25 or more. 

Minimum withdrawal : $5, but note that payments are not available on-demand. Your cash-back will be paid automatically every three months via your choice of PayPal, paper check or American Express rewards points.

Download Rakuten .

#5. Freecash

Freecash is a comprehensive rewards platform that offers various opportunities but primarily specializes in games.

There are free and paid games where you can earn Freecash Coins, which can be exchanged for cash.

According to the website, the most active users reported an average daily earning of $19.52.

One downside is that the game selection is limited initially, but more options become available as you play and progress.

Game options right now include Monopoly Go and Family Island.

While there is only an Android app, there are both iOS and Android games you can access after signing up via their website.

Minimum withdrawal : $5. Options include PayPal, cryptocurrency, and gift cards.

Download Freecash

#6. Mistplay

Branded as “the loyalty program for gamers,” Mistplay is a free gaming app that rewards you with points for playing games on your Android smartphone (an iOS version is in development). 

Sometimes, you must provide Mistplay with feedback on the game itself. In other cases, you’re required to reach certain in-game milestones (like leveling up).

Your points can be redeemed for gift cards to major retailers like Amazon, Starbucks and the Nintendo store.

Minimum withdrawal : 1,500 points, which is roughly equal to $5 in value.

Download Mistplay .

Upside is a cash-back app focused on gas purchases. In our testing, we found gas stations that offered up to 35 cents per gallon (though 25 cents and lower is more common).

The app offers cash-back at select grocers and restaurants, but availability varies by zip code.

Minimum withdrawal : You can withdraw at any time for a $1 fee. Once your balance reaches $10, you can withdraw for free.

Download Upside .

#8. Fetch Rewards

Unlike many receipt scanning apps, Fetch Rewards works at any store. There are no barcodes to scan or coupons to clip, and you don’t have to buy specific products to earn points.

The big downside to Fetch is that each receipt only pays a few cents. However, you’ll get bonus points for buying sponsored items, and these are often common household products that you may be buying anyway.

Minimum withdrawal : 3,000 points gets you a $3 gift card.

Download Fetch Rewards .

#9. Rakuten Insight

Rakuten Insight is a paid survey app from the company behind Rakuten, the most well-known cash-back shopping portal in the United States.

We earned $9.62 per hour during our testing period, making this one of the best-paying survey apps we’ve reviewed. 

The downside to Rakuten Insight is that the number of available surveys is limited compared to bigger platforms like Survey Junkie .

Still, the above-average pay makes this a great option when you’re thinking about giving paid surveys a shot.

Minimum withdrawal : $5 to cash-out via PayPal.

Download Rakuten Insight .

#10. Nielsen Computer and Mobile Panel

Nielsen, a renowned research company known for TV viewership ratings, also analyzes smartphone usage with their Nielsen Computer and Mobile Panel app. 

This app runs in the background, anonymously collecting data on phone usage and activity types, such as browsing or watching videos. 

Users are entered into a $10,000 monthly sweepstakes and can earn up to $50 per year in gift cards or PayPal cash if the app remains installed for 12 months.

Download the Nielsen Computer and Mobile Panel app .

#11. SurveyMonkey Rewards

SurveyMonkey, which is widely used by numerous businesses for gathering customer feedback, also offers a lesser-known rewards app. 

In our testing, we earned an impressive $13.56 per hour (significantly above the survey app average). 

The platform’s surveys are typically brief, taking just 2-3 minutes to finish. However, survey availability is limited; we received only nine opportunities during a month-long test. 

Despite this, we reached the $5 cash-out minimum with minimal time and effort.

Minimum withdrawal : You must earn a minimum of $5 to redeem rewards. Amazon gift cards or a contribution to charity are the only redemption options. 

Download SurveyMonkey Rewards .

#12. KashKick

KashKick functions similarly to other reward apps like Swagbucks in that offers a range of different ways to earn money.

When we tested the platform, we found that taking surveys on KashKick only pays about $1 per hour on average, so it’s not worth your time.

However, KashKick does provide some unique money-making offers that are worth checking out.

For example, we found an offer allowing users to earn $300 from KashKick for buying a $100 annual LifeLock subscription (which can be canceled after the first year). In other words, you can net an easy profit of $200.

KashKick also offers games. We found that KashKick games provide higher payouts than on competing platforms (such as Mistplay), but they usually require that you reach the designated milestones faster in order to earn (e.g., 7 days instead of 14 days).

While that aggressive timeline may not work for everyone, KashKick’s games could be worthwhile if you have the time to commit. 

Minimum withdrawal : $10 minimum via PayPal.

Download KashKick .

#13. InboxDollars

InboxDollars is a popular money making app that lets you earn through surveys as well as a variety of other tasks. It’s owned and operated by the same company that runs Swagbucks, but there are some key differences between the two (including that it’s one of the few sites where you can get paid to read e-mail ).

InboxDollars also rewards you in real money (not points) for the activities you complete. The downside? There’s a $15 minimum to cash out, though the $5 sign-up bonus can help you reach that milestone.

Minimum withdrawal : $15 to cash out.

Download InboxDollars .

#14. Ibotta

Ibotta is widely recognized as one of the best cash-back apps for groceries , but has expanded into local retail and online cash-back. 

It works like this: you use the app to scan the barcode of the product you purchased at the store, and then you upload a photo of your receipt. Often, you’ll have to watch a 15-second video clip to have the money posted to your account. 

Both my wife and I use the app, often stacking one of the many apps that are similar to Ibotta to double-dip on rewards. We’ve found the 30 seconds it takes to always be time well spent. 

You can earn a $5 welcome bonus by signing up with our link and making a $15 purchase through the app.

Minimum withdrawal : $20 in cash transferred to Venmo or PayPal.

Download Ibotta .

Gig & Sharing Economy Apps 

The gig and sharing economy has opened up dozens of legit earning opportunities that you can leverage with your smartphone, including on-demand delivery jobs , odd jobs and more.

#15. DoorDash

DoorDash allows you to earn extra money by delivering restaurant take-out orders. You’ll need a car, bicycle or scooter, a driver’s license, and valid insurance to become a Dasher.

With DoorDash, you have the flexibility to schedule your shifts ahead of time or use DashNow, a feature only available during peak hours where no pre-scheduling is required. 

That means you’ll have less scheduling flexibility than with UberEats (see below), but it also means you’ll usually have a more consistent flow of orders (because there are fewer drivers working at any given moment).

Download the D oorDash driver app .

#16. Instacart

Instacart lets you earn money by shopping for and/or delivering groceries. Full-service Instacart shoppers both shop for and deliver items, but if you don’t have access to a car, you can be an in-store shopper only.

Similar to many gig economy apps , a big perk of working with Instacart is that you can set your own schedule. That said, peak times, such as weekends, often pay the most per hour.

Instacart shoppers get paid per order based on the time it takes to complete the order, as well as the distance (if delivering). Delivery drivers also get tips from customers.

Download Instacart .

#17. Fiverr

Fiverr is a freelance marketplace known for its wide variety of tasks offered.

What’s unique about Fiverr is that you’re the one designing the gig and posting it for others to buy. As such, you can create jobs you can fulfill entirely from your smartphone.

This could include video editing, proofreading and photo editing — among many others.

Visit Fiverr .

Uber gives you two ways to make money with a single app: ride-sharing as a driver or delivering takeout food orders with UberEats. And with over 100 million active monthly customers in 900+ cities, there’s plenty of demand to keep you busy.

Being a driver with Uber is the most famous side hustle in the world for a reason: Uber freelancers can earn solid money (earnings vary based on factors like location and demand), and you can work literally whenever or wherever you want, with no need to set a schedule. Just open the app, make yourself available and then accept the gigs that are sent your way.

UberEats is similar to DoorDash (mentioned above) in that you can earn money by delivering food orders from local restaurants using your car, scooter or bike — or even on foot in some cities.

Plus, whether you drive people or deliver food, you have the ability to request instant payout for a small fee — meaning you can get paid the same day you work instead of waiting around for a deposit to hit your bank account.

Download the Uber driver app .

Rover is a pioneer in the pet care industry when it comes to pet sitting, dog walking, doggy daycare and boarding. The app allows you to connect with local pet owners in need of these services. Rover advertises that walkers can get paid up to $20 per hour.

It’s ideal for those living in a more urban area, where they can often take out multiple dogs and travel short distances. For those not living in a city, boarding can help maximize your earnings.

Download Rover .

Turo is a car sharing app that allows you to earn money by renting your vehicle. 

The app works similarly to Airbnb in that you can list your car for rent and set your own price. Once a renter is found, they’ll contact you to arrange a time to pick up the car. 

Alternatively, many Turo hosts use remote lock technology, giving renters access to the car without meeting in person. Theoretically, you can earn passively, as the app handles the entire transaction. 

Download Turo .

#21. Neighbor

Neighbor is an app that allows you to get paid for renting unused space in your home. This could be an extra garage spot, driveway space, shed, attic or basement.

While there is some work involved upfront — such as listing your space and connecting with clients — once the storage is set up, there’s very little work required on your part.

Download Neighbor .

Investing Apps

When we think of money making apps, it’s all about turning minimal time, effort and resources into cash — all through your smartphone.

A select few investment apps fall into this category, in that you can earn money without investing a lot of time or cash. This may include being paid a sign-up bonus , getting free shares of stock , or having the ability to automatically invest your spare change.

#22. Arrived

Arrived , backed by Jeff Bezos, provides a platform for investing in single-family rental and vacation homes, with a minimum investment of $100.

Unlike traditional methods, Arrived manages the properties, allowing investors to earn quarterly dividends from net income without the usual landlord hassles. The platform specializes exclusively in single-family homes, employing a systematic approach to select properties in lucrative markets aimed at optimizing rental income and asset appreciation.

Although relatively new with a limited track record, Arrived’s innovative model, lower entry barrier, and passive income potential make it an intriguing option for those looking to diversify their investment portfolios in real estate.

Download Arrived.

#23. Acorns

Acorns is a mobile app that automates investing through:

• Spare change investing . Acorns’ Round Ups feature sets aside the difference from your purchases (e.g., 80 cents from a $17.20 expense) and invests it into a mutual fund, helping you save and build an investment portfolio gradually.
• Acorns Earn . Partnering with hundreds of retailers, Acorns allows you to earn money when shopping at specific stores (up to 10% of the purchase amount) and adds it to your investment account.

By using Acorns Earn and investing spare change, you can build a substantial portfolio for retirement or generate side income.

Download Acorns .

#24. Public

Public is one of our favorite apps for investing in individual shares of stock .

What stands out about Public is its simplicity: the app offers a very clean and user-friendly experience, and forgoes more advanced features, like options and futures trading, that aren’t necessary for beginning investors.

Download Public .

Miscellaneous Money Making Apps

From taking pictures of products at local retailers to achieving fitness goals, these apps don’t fit into one of the categories above but are still great for making extra money.

#25. TikTok (Shop)

The best-selling author in late 2023 was 24-year-old Keila Shaheen. Her self-published book The Shadow Work Journal outsold every other title on Amazon.

Her secret? TikTok Shop.

TikTok Shop is a new opportunity for creators to earn money by either launching products directly on TikTok or by promoting other products as an affiliate. 

Then, you create content around those products, ideally taking advantage of TikTok’s algorithm (which is more favorable to new creators regardless of follower count).

A strong network of affiliates is how videos of The Shadow Work Journal have now been viewed over 1 billion times. 

See our article on how to make money on TikTok for tips if you want to give it a try.

#26. Amazon (Influencer Program)

The Amazon Influencer program allows everyday people to make money by creating short product review videos. 

While you’re free to promote your videos via social media to increase your earnings, what’s unique about this opportunity is that videos can be featured directly within Amazon listings. You then earn a commission whenever viewers watch your videos and make a purchase. 

This is great news in that you don’t need a large social following to get started or do well. 

To learn more, check out our article on the Amazon Influencer program . 

Foap is a mobile app that allows you to make money by selling pictures you take with your phone. What’s nice is that one photo can sell multiple times, which allows you to generate a source of passive income.

The best way to earn is through “missions,” in which Foap teams up with a specific brand to show how everyday people use their product. 

Minimum withdrawal : There’s no minimum, but Foap pays you once per month via PayPal.

See also : Here are some more ways to get paid to take pictures with your phone .

Download Foap .

#28. Bookscouter

A popular free app among book lovers, Bookscouter allows you to sell used books.

How it works is that you enter or scan a book’s ISBN number and Bookscouter provides a list of companies looking to purchase that title (along with how much they’re willing to pay).

Those who earn the most know where to find used books for cheap (garage sales, library book sales, etc.), and use the app on the spot to find the ones that will fetch the highest profit margins.

Download Bookscouter .

#29. Field Agent

Field Agent is an app that allows you to make money by completing random local tasks, like taking pictures of products (to make sure they’re properly displayed) and completing mystery shopping missions to evaluate stores’ customer service. In that sense, it’s a form of mystery shopping (which can be a legit side hustle).

It’s also one of the best apps that pay you for walking .

This free app is best suited for those in urban areas, as you’re only paid on a per-task basis. Since you have to factor time and cost of travel into your net earnings, you’ll make more if you live near a high concentration of participating businesses.

Minimum withdrawal : $10 via PayPal.

Download Field Agent .

#30. Facebook and Other Selling Apps

Selling your stuff is one of the best ways to make money fast . Apps such as Facebook Marketplace (located in the Facebook app), Craigslist, and OfferUp are great for selling items locally.

eBay is best suited for selling items outside of your local area. While you have to ship the item, you can typically sell it for a higher price (as your group of potential buyers is greatly enhanced). This makes eBay ideal for collectibles and items that are in high demand (like iPhones).

Not sure what to sell? We did the research to find the best things to sell online .

#31. Evidation

Evidation (formerly called Achievement) is a combination of a survey app and a fitness app. It works by syncing with other fitness apps you have on your phone, including:

• Apple Health
• MapMyFitness
• MyFitnessPal
• And over a dozen others .

In addition to earning rewards via healthy activities — e.g., hitting 10,000 steps in one day —  you can earn rewards for answering health-related surveys. 

Minimum withdrawal : You’ll need a minimum of 10,000 points to cash out, which gives you a $10 gift card to popular retailers.

Pro tip : Turn this into a passive income app by syncing it with an app like Apple Health, which tracks your activity and steps in the background.

Money Making Apps That Aren’t Worth Your Time

We found plenty of apps that didn’t make the cut. Here are some of the most popular, along with why they’re worth skipping. The links below will take you to our full review of each app, where you can learn more.

• ATM App . While it has an interesting premise — users can choose to match with brands and then get paid for interacting with them, in a form of “brand dating” — we found the earning potential to be very low.
• Capital One Shopping . We highly recommend this app based on our experience, as it has provided us with some of the most rewarding shopping credits. However, it doesn’t serve as a direct source of income since the rewards are given in the form of gift cards only. For a more detailed insight, check out our Capital One Shopping Review .
• Honeygain . This app does legitimately pay you for sharing your internet connection. However, the pay rate is so low it’s not worth the hassle of installing it.
• LifePoints . We found LifePoints to have an extremely high disqualification rate combined with a limited inventory of surveys. So while it’s a legit site that will pay you for your time, there are better options.
• Lucktastic . This popular sweepstakes app was shut down in March 2022.
• OnMyWay . The app promises to pay you cash for safe driving, but you have to refer 250 users to unlock cash rewards.
• Sweatcoin . You can only earn money by referring friends to Sweatcoin — not by walking, as advertised.
• Testerup : The company makes bold claims about how much you can earn, but when we tested the app, our earnings came out to less than $1 per hour. Plus, you have to reach $70 in order to cash-out.
• Zogo . This free app pays you for completing lessons about basic personal finance topics. We made an average of $6.07 per hour in our testing, but our earning rate declined quickly the more we used the app.

Money Making Apps FAQ

Yes, money making apps work. However, it’s important to have realistic expectations. In most cases, your earning potential will be relatively limited. It’s best to view these apps as tools you can use to make extra cash in your spare time, since most were not designed to generate anything close to a full-time income. At the same time, there are some money making apps that can generate a substantial amount of money when used consistently. One example is the cash-back shopping category. If you’re reading this, you probably shop online. And if you’re not using a cash-back app like Swagbucks or Rakuten , you’re effectively paying more than you have to for everything you purchase. Depending on how much you spend online over the course of a year, apps like these may realistically save you hundreds of dollars. And then there are gig economy apps like DoorDash and Uber , which are fantastic options when you’re looking for a part-time job or a side hustle . This category of money making apps obviously requires real work, but it offers unmatched flexibility and pay that typically ranges from $15 to $25 when tips are factored in.

Selling apps, such as Facebook Marketplace and eBay , are your best bets for making money fast. Beyond selling, DoorDash and Uber are also good options. These two apps enable you to make decent money on a per-hour basis, as well as to cash-out your earnings daily (for a small fee). These are among the highest and fastest-paying paying apps you’ll find.

Money making apps are generally safe, but there are some things to keep in mind before downloading them. First, understand that virtually all money making apps collect some form of user data. This may include basic information like your demographics (age, location, etc.), but it may also include more personal data like your internet browsing habits. If you’re concerned about data collection, make sure to read the app’s privacy policy. Of course, privacy policies are often written in legalese, so it’s a good idea to refer to the company’s FAQ or knowledge base to see if they provide clear and easy-to-understand details about what data is collected and how it is (or isn’t) used. Another concern many people have is the safety of their financial information, such as bank login credentials or account details. Often, in order to get paid by a money making app, you’re required to provide a routing and checking number or link your bank account through a third-party provider like Plaid . Services like Plaid are generally considered secure, and we think you should be comfortable using them. On the other hand, we’re not fans of manually providing our bank account details, because it’s not always clear how strong a given app’s security practices are. In cases like this, we recommend setting up a free online checking account that you use specifically for money making apps.

When you’re evaluating money-making apps, pay close attention to user reviews — and specifically the ones on the Google Play Store and iOS App Store. Unlike some other user review sites, companies can’t edit or delete reviews that appear on the official app stores. So if an app is a scam, chances are you’ll see that quickly based on user feedback. Sort by negative reviews, and read through three to five to see the common complaints. If a lot of users have trouble withdrawing money or not getting responses from customer support, it’s best to avoid the app. You can also search r/BeerMoney , a popular subreddit where people talk about their experiences with different apps.

There are a number of different business models and app monetization strategies used by these companies to generate revenue. – Online survey companies sell the data they collect to third parties seeking to improve their products and services. – Many gig economy apps take a percentage of revenue from each transaction. – Cash-back shopping apps like Rakuten are among the highest paying apps for a reason: they earn a solid commission for sending you to retailers’ sites, which they then share with you. Apps that give you money are always getting something in return — whether that’s your data, your feedback, your business or something else. Keep that in mind when picking which ones to use and make sure you’re comfortable with the tradeoff.

Best Money Making Apps: Final Thoughts

Our top priority when compiling this list was to make sure every app we included was both legitimate and worthwhile. There are many other apps out there, and while some of them work for some people, others just collect your data and waste your time without providing any real chance to cash-out your earnings.

Depending on your situation, they may or may not be worth looking into. But this list is the cream of the crop.

If you’re looking just for surveys, Branded Surveys is a great starting point. 

Our favorite all around rewards app is Swagbucks , thanks to the wide range of ways you can earn. 

If you’re looking for a dedicated cash-back app, Rakuten is an ideal choice.

For the entrepreneurial minded, consider running a business you can operate 100% from your phone, such as getting started with the Amazon Influencer program or making money with TikTok Shop . 

These types of opportunities can turn into lucrative side hustles , but they can take some time to get up and running.

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This is one great list. I’ve been in this niche quite a long time and one thing I’ve learned is that there are so many opportunities out there, just have to choose one (or a few) and stick to it. When it comes to apps, think that you’ll have to research a bit, then go to PlayStore/AppStore, search for relevant apps, back to google and search what people says about an app.

I make about $10 per month with both HoneyGain and Pawns App. There are another 4 or 5 desktop apps that work in the same way and are profitable like ProxyRack and EarnApp. Pretty good list though.

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Ideas for Earning Income: Making Money with Your Boat

Owning a boat is a dream for many people, but it can be expensive to maintain and operate. From fuel costs to regular maintenance, boat owners are often looking for ways to offset these expenses. Thankfully, there are several ways that you can earn income by using your boat. In this article, we will cover some creative and practical ideas to turn your boat into a money-making venture.

Renting Your Boat

Boat rental services.

One of the most popular ways to make money with your boat is by renting it out to others. Boat rental services like Boatsetter and GetMyBoat allow boat owners to list their boats for rent, connecting them with potential renters. These platforms handle payments and insurance, making the rental process easy and worry-free for both parties.

Private Rentals

If you prefer a more direct approach, you can rent out your boat privately to friends, family, or through local classified ads. Make sure to establish appropriate rates and clearly outline any terms and conditions you have in place for renting your boat.

Fishing Charter Services

If you have a deep passion for fishing and your boat is equipped to handle fishing, you can offer fishing charters to clients. Fishing charters can vary from half-day trips to multi-day expeditions, depending on the local fishing options available. Advertising on Google or in local fishing publications can help you generate business.

Take People on Cruises or Boat Tours

Guiding people on sightseeing and eco-tours can be a great way to earn income with your boat. If your area offers picturesque views, unique landscapes, or captivating wildlife, consider offering tours that highlight these features.

Sunset Cruises

Offer romantic sunset cruises for couples, complete with onboard refreshments, allowing guests to enjoy an unforgettable evening on the water.

If your local area is home to fascinating marine life, offer tours to educate people on the various species and their habitats. You can partner with local marine biology organizations for more in-depth insight and potential cross-promotion.

Maritime Events and Boat Shows

Participating in maritime events and boat shows can allow you to showcase your boat while earning income. Organizers often look for boats to feature at these events, and you may receive compensation for allowing your boat to be on display. Furthermore, you can also offer charters or rides to attendees looking to experience being on a boat while at these events.

Boat Lessons and Instruction

If you are an experienced and skilled boater, offer lessons or instruction to those looking to gain confidence and expertise on the water. From basic boat handling to sailboat racing techniques, your knowledge and experience can be valuable to others.

Safety and Skills Courses

Partner with local boating safety organizations or yacht clubs to offer safety and skills courses that can benefit novice and experienced boaters alike.

Licensed Captains

If you hold a captain’s license, people in required situations (e.g., moving larger vessels) might hire a licensed captain to skipper their boat. This can be a lucrative way to use your maritime expertise.

Boat Deliveries

Another method of using your boat for income is offering boat delivery services. Many boat owners need their boats moved from one location to another, whether it be from a seasonal boating location, boatyard, or marina. You can offer this service for a fee, taking the stress off the boat owner and ensuring their vessel gets to its destination safely.

As you can see, there are numerous ways to generate income with your boat. Whether you are renting it out, offering charters, providing boat tours, or offering instruction, there are plenty of opportunities available to you. With some creativity and initiative, you can make your boat a profitable venture that helps offset your boating expenses. So, hoist the sails and embark on your money-making journey!

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6 Pros and Cons of Globalization in Business to Consider

• 01 Apr 2021

Throughout history, commerce and business have been limited by certain geographic constraints. In its earliest days, trade happened between neighboring tribes and city-states. As humans domesticated the horse and other animals, the distances they could travel to trade increased. These distances increased further with the development of seafaring capabilities.

Although humans have been using ships for centuries to transport goods, cargo, people, and ideas around the world, it wasn’t until the development of the airplane that the blueprint of a “globalized economy” was laid. This was for a simple reason: You can travel greater distances faster than ever before.

The development of the internet accelerated this process even more, making it easier to communicate and collaborate with others. Today, your international co-worker, business partner, customer, or friend is only a few taps or clicks away.

Globalization has had numerous effects—both positive and negative—on business and society at large. Here’s an overview of the pros and cons of globalization in business.

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What Is Globalization?

Globalization is the increased flow of goods, services, capital, people, and ideas across international boundaries according to the online course Global Business , taught by Harvard Business School Professor Forest Reinhardt.

“We live in an age of globalization,” Reinhardt says in Global Business . “That is, national economies are even more tightly connected with one another than ever before.”

How Globalization Affects Daily Life

Globalization has had a significant impact on various aspects of daily life.

For example, it’s changed the way consumers shop for products and services. Today, 70 percent of Americans shop online. In 2022, there were 268 million digital buyers in the US and by 2025, this number is predicted to reach 285 million.

In addition, the globalized economy has opened up new job markets by making it more feasible to hire overseas workers. This has created a wide range of career opportunities for both job seekers and employers.

The emergence of remote work post-pandemic was also made possible by globalization. According to a survey from WFH Research , only seven percent of paid workdays in the US were remote in 2019. However, this number climbed to 29 percent by January 2024.

Check out the video below to learn more about globalization, and subscribe to our YouTube channel for more explainer content!

Advantages of Globalization

1. economic growth.

It’s widely believed that one of the benefits of globalization is greater economic growth for all parties. There are several reasons why this might be the case, including:

• Access to labor: Globalization gives all nations access to a wider labor pool. Developing nations with a shortage of knowledge workers might, for example, “import” labor to kickstart industry. Wealthier nations, on the other hand, might outsource low-skill work to developing nations with a lower cost of living to reduce the cost of goods sold and pass those savings on to the customer.
• Access to jobs: This point is directly related to labor. Through globalization, developing nations often gain access to jobs in the form of work that’s been outsourced by wealthier nations. While there are potential pitfalls to this (see “Disproportionate Growth” below), this work can significantly contribute to the local economy.
• Access to resources: One of the primary reasons nations trade is to gain access to resources they otherwise wouldn’t have. Without this flow of resources across borders, many modern luxuries would be impossible to manufacture or produce. Smartphones, for example, are dependent on rare earth metals found in limited areas around the world.
• The ability for nations to “specialize”: Global and regional cooperation allow nations to heavily lean into their economic strengths, knowing they can trade products for other resources. An example is a tropical nation that specializes in exporting a certain fruit. It’s been shown that when nations specialize in the production of goods or services in which they have an advantage, trade benefits both parties.

2. Increased Global Cooperation

For a globalized economy to exist, nations must be willing to put their differences aside and work together. Therefore, increased globalization has been linked to a reduction—though not an elimination—of conflict.

“Of course, as long as there have been nations, they've been connected with each other through the exchange of lethal force—through war and conquest—and this threat has never gone away,” Reinhardt says in Global Business . “The conventional wisdom has been that the increased intensity of these other flows—goods, services, capital, people, and so on—have reduced the probability that the world's nations will fall back into the catastrophe of war.”

3. Increased Cross-Border Investment

According to the course Global Business , globalization has led to an increase in cross-border investment. At the macroeconomic level, this international investment has been shown to enhance welfare on both sides of the equation.

The country that’s the source of the capital benefits because it can often earn a higher return abroad than domestically. The country that receives the inflow of capital benefits because that capital contributes to investment and, therefore, to productivity. Foreign investment also often comes with, or in the form of, technology, know-how, or access to distribution channels that can help the recipient nation.

Disadvantages of Globalization

1. increased competition.

When viewed as a whole, global free trade is beneficial to the entire system. Individual companies, organizations, and workers can be disadvantaged, however, by global competition. This is similar to how these parties might be disadvantaged by domestic competition: The pool has simply widened.

With this in mind, some firms, industries, and citizens may elect governments to pursue protectionist policies designed to buffer domestic firms or workers from foreign competition. Protectionism often takes the form of tariffs, quotas, or non-tariff barriers, such as quality or sanitation requirements that make it more difficult for a competing nation or business to justify doing business in the country. These efforts can often be detrimental to the overall economic performance of both parties.

“Although we live in an age of globalization, we also seem to be living in an age of anti-globalization,” Reinhardt says in Global Business . “Dissatisfaction with the results of freer trade, concern about foreign investment, and polarized views about immigration all seem to be playing important roles in rich-country politics in the United States and Europe. The threats in Western democracy to the post-war globalist consensus have never been stronger.”

2. Disproportionate Growth

Another issue of globalization is that it can introduce disproportionate growth both between and within nations. These effects must be carefully managed economically and morally.

Within countries, globalization often has the effect of increasing immigration. Macroeconomically, immigration increases gross domestic product (GDP), which can be an economic boon to the recipient nation. Immigration may, however, reduce GDP per capita in the short run if immigrants’ income is lower than the average income of those already living in the country.

Additionally, as with competition, immigration can benefit the country as a whole while imposing costs on people who may want their government to restrict immigration to protect them from those costs. These sentiments are often tied to and motivated—at least in part—by racism and xenophobia.

“Meanwhile, outside the rich world, hundreds of millions of people remain mired in poverty,” Reinhardt says in Global Business. “We don't seem to be able to agree about whether this is because of too much globalization or not enough.”

3. Environmental Concerns

Increased globalization has been linked to various environmental challenges, many of which are serious, including:

• Deforestation and loss of biodiversity caused by economic specialization and infrastructure development
• Greenhouse gas emissions and other forms of pollution caused by increased transportation of goods
• The introduction of potentially invasive species into new environments

While such issues are governed by existing or proposed laws and regulations, businesses have made climate change concerns and sustainability a priority by, for example, embracing the tenets of the triple bottom line and the idea of corporate social responsibility .

Managing the Risks of Globalization

The world is never going to abandon globalization. While it’s true that individual countries and regions put policies and practices in place that limit globalization, such as tariffs, it’s here to stay. The good news is that businesses and professionals willing to prepare for globalization’s challenges by developing strong social impact skills have the potential to benefit immensely.

Whether you’re a business owner, member of executive leadership, or an employee, understanding the impacts of globalization and how to identify its opportunities and risks can help you become more effective in your role and drive value for your organization.

Taking a course like Global Business is one path toward developing international business skills and gaining an understanding of the macroeconomic, political , and social conditions that continue to impact globalization.

Are you interested in breaking into a global market? Sharpen your knowledge of the international business world with Global Business , one of our online business in society courses . If you aren't sure which course is the right fit, download our free course flowchart .

This post was updated on February 26, 2024. It was originally published on April 15, 2021.

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Globalization: definition, benefits, effects, examples – what is globalization.

• Publié le 21 January 2019
• Mis à jour le 25 March 2024

Globalization – what is it? What is the definition of globalization? Benefits and negative effects? What are the top examples of globalization? What famous quotes have been said about globalization?

What is Globalization? All Definitions of Globalization

A simple globalization definition.

Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.

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An Official Definition of Globalization by the World Health Organization (WHO)

According to WHO , globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries. It is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows.”

What Is Globalization in the Economy?

According to the Committee for Development Policy (a subsidiary body of the United Nations), from an economic point of view, globalization can be defined as: “(…) the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, the flow of international capital and the wide and rapid spread of technologies. It reflects the continuing expansion and mutual integration of market frontiers (…) and the rapid growing significance of information in all types of productive activities and marketization are the two major driving forces for economic globalization.”

• Related: Planet VS Economy: How Coronavirus Is Unraveling A Dysfunctional System

What Is Globalization in Geography?

In geography, globalization is defined as the set of processes (economic, social, cultural, technological, institutional) that contribute to the relationship between societies and individuals around the world. It is a progressive process by which exchanges and flows between different parts of the world are intensified.

Globalization and the G20: What is the G20?

The G20 is a global bloc composed by the governments and central bank governors from 19 countries and the European Union (EU). Established in 1999, the G20 gathers the most important industrialized and developing economies to discuss international economic and financial stability. Together, the nations of the G20 account for around 80% of global economic output, nearly 75 percent of all global trade, and about two-thirds of the world’s population.

G20 leaders get together in an annual summit to discuss and coordinate pressing global issues of mutual interest. Though economics and trade are usually the centerpieces of each summit’s agenda, issues like climate change, migration policies, terrorism, the future of work, or global wealth are recurring focuses too. Since the G20 leaders represent the “ political backbone of the global financial architecture that secures open markets, orderly capital flows, and a safety net for countries in difficulty”, it is often thanks to bilateral meetings during summits that major international agreements are achieved and that globalization is able to move forward.

The joint action of G20 leaders has unquestionably been useful to save the global financial system in the 2008/2009 crisis, thanks to trade barriers removal and the implementation of huge financial reforms. Nonetheless, the G20 was been struggling to be successful at coordinating monetary and fiscal policies and unable to root out tax evasion and corruption, among other downsides of globalization. As a result of this and other failures from the G20 in coordinating globalization, popular, nationalist movements across the world have been defending countries should pursue their interests alone or form fruitful coalitions.

How Do We Make Globalization More Just?

The ability of countries to rise above narrow self-interest has brought unprecedented economic wealth and plenty of applicable scientific progress. However, for different reasons, not everyone has been benefiting the same from globalization and technological change: wealth is unfairly distributed and economic growth came at huge environmental costs. How can countries rise above narrow self-interest and act together or designing fairer societies and a healthier planet? How do we make globalization more just?

According to Christine Lagarde , former President of the International Monetary Fund, “ debates about trade and access to foreign goods are as old as society itself ” and history tells us that closing borders or protectionism policies are not the way to go, as many countries doing it have failed.

Lagarde defends we should pursue globalization policies that extend the benefits of openness and integration while alleviating their side effects. How to make globalization more just is a very complex question that involves redesigning economic systems. But how? That’s the question.

Globalization is deeply connected with economic systems and markets, which, on their turn, impact and are impacted by social issues, cultural factors that are hard to overcome, regional specificities, timings of action and collaborative networks. All of this requires, on one hand, global consensus and cooperation, and on the other, country-specific solutions, apart from a good definition of the adjective “just”.

When Did Globalization Begin? The History of Globalization

For some people, this global phenomenon is inherent to human nature. Because of this, some say globalization begun about 60,000 years ago, at the beginning of human history. Throughout time, human societies’ exchanging trade has been growing. Since the old times, different civilizations have developed commercial trade routes and experienced cultural exchanges. And as well, the migratory phenomenon has also been contributing to these populational exchanges. Especially nowadays, since traveling became quicker, more comfortable, and more affordable.

This phenomenon has continued throughout history, notably through military conquests and exploration expeditions. But it wasn’t until technological advances in transportation and communication that globalization speeded up. It was particularly after the second half of the 20th century that world trades accelerated in such a dimension and speed that the term “globalization” started to be commonly used.

• Are we living oppositely to sustainable development?

Examples of Globalization (Concept Map)

Because of trade developments and financial exchanges, we often think of globalization as an economic and financial phenomenon. Nonetheless, it includes a much wider field than just flowing of goods, services or capital. Often referred to as the globalization concept map, s ome examples of globalization are:

• Economic globalization : is the development of trade systems within transnational actors such as corporations or NGOs;
• Financial globalization : can be linked with the rise of a global financial system with international financial exchanges and monetary exchanges. Stock markets, for instance, are a great example of the financially connected global world since when one stock market has a decline, it affects other markets negatively as well as the economy as a whole.
• Cultural globalization : refers to the interpenetration of cultures which, as a consequence, means nations adopt principles, beliefs, and costumes of other nations, losing their unique culture to a unique, globalized supra-culture;
• Political globalization : the development and growing influence of international organizations such as the UN or WHO means governmental action takes place at an international level. There are other bodies operating a global level such as NGOs like Doctors without borders  or Oxfam ;
• Sociological globalization : information moves almost in real-time, together with the interconnection and interdependence of events and their consequences. People move all the time too, mixing and integrating different societies;
• Technological globalization: the phenomenon by which millions of people are interconnected thanks to the power of the digital world via platforms such as Facebook, Instagram, Skype or Youtube.
• Geographic globalization: is the new organization and hierarchy of different regions of the world that is constantly changing. Moreover, with transportation and flying made so easy and affordable, apart from a few countries with demanding visas, it is possible to travel the world without barely any restrictions;
• Ecological globalization: accounts for the idea of considering planet Earth as a single global entity – a common good all societies should protect since the weather affects everyone and we are all protected by the same atmosphere. To this regard, it is often said that the poorest countries that have been polluting the least will suffer the most from climate change .

The Benefits of Globalization

Globalization has benefits that cover many different areas. It reciprocally developed economies all over the world and increased cultural exchanges. It also allowed financial exchanges between companies, changing the paradigm of work. Many people are nowadays citizens of the world. The origin of goods became secondary and geographic distance is no longer a barrier for many services to happen. Let’s dig deeper.

The Engine of Globalization – An Economic Example

The most visible impacts of globalization are definitely the ones affecting the economic world. Globalization has led to a sharp increase in trade and economic exchanges, but also to a multiplication of financial exchanges.

In the 1970s world economies opened up and the development of free trade policies accelerated the globalization phenomenon. Between 1950 and 2010, world exports increased 33-fold. This significantly contributed to increasing the interactions between different regions of the world.

This acceleration of economic exchanges has led to strong global economic growth. It fostered as well a rapid global industrial development that allowed the rapid development of many of the technologies and commodities we have available nowadays.

Knowledge became easily shared and international cooperation among the brightest minds speeded things up. According to some analysts, globalization has also contributed to improving global economic conditions, creating much economic wealth (thas was, nevertheless, unequally distributed – more information ahead).

Globalization Benefits – A Financial Example

At the same time, finance also became globalized. From the 1980s, driven by neo-liberal policies, the world of finance gradually opened. Many states, particularly the US under Ronald Reagan and the UK under Margaret Thatcher introduced the famous “3D Policy”: Disintermediation, Decommissioning, Deregulation.

The idea was to simplify finance regulations, eliminate mediators and break down the barriers between the world’s financial centers. And the goal was to make it easier to exchange capital between the world’s financial players. This financial globalization has contributed to the rise of a global financial market in which contracts and capital exchanges have multiplied.

Globalization – A Cultural Example

Together with economic and financial globalization, there has obviously also been cultural globalization. Indeed, the multiplication of economic and financial exchanges has been followed by an increase in human exchanges such as migration, expatriation or traveling. These human exchanges have contributed to the development of cultural exchanges. This means that different customs and habits shared among local communities have been shared among communities that (used to) have different procedures and even different beliefs.

Good examples of cultural globalization are, for instance, the trading of commodities such as coffee or avocados. Coffee is said to be originally from Ethiopia and consumed in the Arabid region. Nonetheless, due to commercial trades after the 11th century, it is nowadays known as a globally consumed commodity. Avocados , for instance, grown mostly under the tropical temperatures of Mexico, the Dominican Republic or Peru. They started by being produced in small quantities to supply the local populations but today guacamole or avocado toasts are common in meals all over the world.

At the same time, books, movies, and music are now instantaneously available all around the world thanks to the development of the digital world and the power of the internet. These are perhaps the greatest contributors to the speed at which cultural exchanges and globalization are happening. There are also other examples of globalization regarding traditions like Black Friday in the US , the Brazilian Carnival or the Indian Holi Festival. They all were originally created following their countries’ local traditions and beliefs but as the world got to know them, they are now common traditions in other countries too.

Why Is Globalization Bad? The Negative Effects of Globalization

Globalization is a complex phenomenon. As such, it has a considerable influence on several areas of contemporary societies. Let’s take a look at some of the main negative effects globalization has had so far.

The Negative Effects of Globalization on Cultural Loss

Apart from all the benefits globalization has had on allowing cultural exchanges it also homogenized the world’s cultures. That’s why specific cultural characteristics from some countries are disappearing. From languages to traditions or even specific industries. That’s why according to UNESCO , the mix between the benefits of globalization and the protection of local culture’s uniqueness requires a careful approach.

The Economic Negative Effects of Globalization

Despite its benefits, the economic growth driven by globalization has not been done without awakening criticism. The consequences of globalization are far from homogeneous: income inequalities, disproportional wealth and trades that benefit parties differently. In the end, one of the criticisms is that some actors (countries, companies, individuals) benefit more from the phenomena of globalization, while others are sometimes perceived as the “losers” of globalization. As a matter of fact, a recent report from Oxfam says that 82% of the world’s generated wealth goes to 1% of the population.

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The Negative Effects of Globalization on the Environment

At the same time, global economic growth and industrial productivity are both the driving force and the major consequences of globalization. They also have big environmental consequences as they contribute to the depletion of natural resources, deforestation and the destruction of ecosystems and loss of biodiversity . The worldwide distribution of goods is also creating a big garbage problem, especially on what concerns plastic pollution .

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Globalization, Sustainable Development, and CSR

Globalization affects all sectors of activity to a greater or lesser extent. By doing so, its gap with issues that have to do with  sustainable development  and  corporate social responsibility  is short.

By promoting large-scale industrial production and the globalized circulation of goods, globalization is sometimes opposed to concepts such as resource savings, energy savings or the limitation of greenhouse gases . As a result, critics of globalization often argue that it contributes to accelerating climate change and that it does not respect the principles of ecology. At the same time, big companies that don’t give local jobs and choose instead to use the manpower of countries with low wages (to have lower costs) or pay taxes in countries with more favorable regulations is also opposed to the criteria of a CSR approach. Moreover, the ideologies of economic growth and the constant pursuit of productivity that come along with globalization, also make it difficult to design a sustainable economy based on  resilience .

On the other hand, globalization is also needed for the transitioning to a more sustainable world, since only a global synergy would really be able to allow a real ecological transition. Issues such as global warming indeed require a coordinated response from all global players: fight against CO2 emissions, reduction of waste, a transition to renewable energies . The same goes for ocean or air pollution, or ocean acidification, problems that can’t be solved without global action. The dissemination of green ideas also depends on the ability of committed actors to make them heard globally.

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The Road From Globalization to Regionalization

Regionalization can also be analyzed from a corporate perspective. For instance, businesses such as McDonald’s or Starbucks don’t sell exactly the same products everywhere. In some specific stores, they consider people’s regional habits. That’s why the McChicken isn’t sold in India, whereas in Portugal there’s a steak sandwich menu like the ones you can get in a typical Portuguese restaurant.

Politically speaking, when left-wing parties are in power they tend to focus on their country’s people, goods and services. Exchanges with the outside world aren’t seen as very valuable and importations are often left aside.

• Related: Why Is It Important To Support Local And Small Businesses?

Globalization Quotes by World Influencers

Many world leaders, decision-makers and influential people have spoken about globalization. Some stand out its positive benefits and others focus deeper on its negative effects. Find below some of the most interesting quotes on this issue.

Politic Globalization Quotes

Globalization quote by the former U.S President Bill Clinton ??

No generation has had the opportunity, as we now have, to build a global economy that leaves no-one behind. It is a wonderful opportunity, but also a profound responsibility.

Globalization quote by Barack Obama , former U.S. president ??

Globalization is a fact, because of technology, because of an integrated global supply chain, because of changes in transportation. And we’re not going to be able to build a wall around that.

Globalization quote by Dominique Strauss-Kahn, former International Monetary Fund Managing Director ??

“We can’t speak day after day about globalization without at the same time having in mind that…we need multilateral solutions.”

Globalization quote by Stephen Harper , former Prime Minister of Canada ??

“We have to remember we’re in a global economy. The purpose of fiscal stimulus is not simply to sustain activity in our national economies but to help the global economy as well, and that’s why it’s so critical that measures in those packages avoid anything that smacks of protectionism.”

Globalization quote by Julia Gillard , Prime Minister of Australia ??

“My guiding principle is that prosperity can be shared. We can create wealth together. The global economy is not a zero-sum game.”

Other Globalization Quotes

Globalization quote by the spiritual leader Dalai Lama ??

“I find that because of modern technological evolution and our global economy, and as a result of the great increase in population, our world has greatly changed: it has become much smaller. However, our perceptions have not evolved at the same pace; we continue to cling to old national demarcations and the old feelings of ‘us’ and ‘them’.”

The famous German sociologist Ulrich Beck also spoke of globalization ??

“Globalization is not only something that will concern and threaten us in the future, but something that is taking place in the present and to which we must first open our eyes.”

Globalization quote by Bill Gates, owner and former CEO of Microsoft ??

“The fact is that as living standards have risen around the world, world trade has been the mechanism allowing poor countries to increasingly take care of really basic needs, things like vaccination.”

Globalization quote by John Lennon, member of the music band The Beatles ??

Imagine there’s no countries. It isn’t hard to do. Nothing to kill or die for. And no religion, too. Imagine all the people. Living life in peace. You, you may say I’m a dreamer. But I’m not the only one. I hope someday you will join us. And the world will be as one

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globalization

globalization , integration of the world’s economies, politics, and cultures. German-born American economist Theodore Levitt has been credited with having coined the term globalization in a 1983 article titled “The Globalization of Markets.” The phenomenon is widely considered to have begun in the 19th century following the advent of the Industrial Revolution , but some scholars date it more specifically to about 1870, when exports became a much more significant share of some countries’ gross domestic product (GDP). Its continued escalation is largely attributable to the development of new technologies—particularly in the fields of communication and transportation—and to the adoption of liberal trade policies by countries around the world.

Social scientists have identified the central aspects of globalization as interconnection, intensification, time-space distanciation (conditions that allow time and space to be organized in a manner that connects presence and absence), supraterritoriality, time-space compression, action at a distance, and accelerating interdependence. Modern analysts also conceive of globalization as a long-term process of deterritorialization—that is, of social activities (economic, political, and cultural) occurring without regard for geographic location. Thus, globalization can be defined as the stretching of economic, political, and social relationships in space and time. A manufacturer assembling a product for a distant market , a country submitting to international law , and a language adopting a foreign loanword are all examples of globalization.

Of course history is filled with such occurrences: Chinese artisans once wove silk bound for the Roman Empire ( see Silk Road ); kingdoms in western Europe honoured dictates of the Roman Catholic Church ; and English adopted many Norman French words in the centuries after the Battle of Hastings . These interactions and others laid the groundwork for globalization and are now recognized by historians and economists as important predecessors of the modern phenomenon. Analysts have labeled the 15th to 18th century as a period of “proto-globalization,” when European explorers established maritime trade routes across the Atlantic and Pacific oceans and encountered new lands. Integration prior to this time has been characterized as “archaic globalization.”

What distinguishes the process of modern globalization from those forms of global integration that preceded it are its pace and extent. According to some academics, three distinct eras of modern globalization can be identified, each of them marked by points of sudden acceleration in international interaction. Under this scheme, the “first globalization” era refers to the period between approximately 1870 and 1914, during which new transportation and communication technology decreased or eliminated many of the drawbacks to distance. The “second globalization” era is said to have lasted from roughly 1944 to 1971, a period in which an international monetary system based on the value of the U.S. dollar facilitated a new level of trade between capitalist countries. And the “third globalization” era is thought to have begun with the revolutions of 1989–90, which opened the communist Eastern bloc to the flow of capital and coincided with the creation of the World Wide Web . Some scholars argue that a new period of globalization, the “fourth globalization,” is underway, but there is little consensus on when this era began or whether it is truly distinct enough to merit its own designation.

New levels of interconnectedness fostered by globalization are credited for numerous benefits to humanity. The spread of industrial technology and the resulting increase in productivity have contributed to a reduction in the percentage of the world’s population living in poverty. The sharing of medical knowledge has dramatically decreased the incidence of once-feared diseases and even eliminated smallpox. And economic interdependence among countries discourages war between them.

However, the implementation of globalization has been much criticized, leading to the development of the anti-globalization movement. Opponents of globalization—or at least, globalization in its present form ( see neoliberal globalization )—represent a variety of interests on both the political left and right. Labour unions disdain multinational companies’ ability to move their operations to countries with cheaper labour; Indigenous peoples rue the difficulty of maintaining their traditions; and leftists object to the neoliberal character of the new world economy, arguing that the capitalist logic on which they contend globalization is based leads to asymmetrical power relations (both internationally and domestically) and transforms every aspect of life into a commodity. Right-wing critics of globalization believe that it threatens both national economies and national identity. They advocate national control of a country’s economy and rigidly restricted immigration.

Globalization has also produced effects that are more universally worrisome. Expanded transportation networks facilitate not only increased trade but also the spread of diseases. Undesirable trade, such as human trafficking and poaching, has flourished alongside legitimate commerce. Moreover, the pollution generated by the world’s modernization has resulted in global warming and climate change , threatening Earth’s very habitability.

Whether globalization will adapt to these problems remains to be seen, but it is already changing again. For example, globalization began in the 19th century with an explosion in exports, but, even before the COVID-19 pandemic that swept through the world in 2020 resulted in global lockdowns, trade as a share of many countries’ GDP had fallen. It can be argued that the global supply chains today rely more on knowledge than on labour . And services now constitute a larger share of the global economy than goods. A “fourth globalization” might indeed be here—or at least on the way.

ENCYCLOPEDIC ENTRY

Globalization.

Globalization is a term used to describe the increasing connectedness and interdependence of world cultures and economies.

Anthropology, Sociology, Social Studies, Civics, Economics

Freight Trains

Freight trains waiting to be loaded with cargo to transport around the United Kingdom. This cargo comes from around the world and contains all kinds of goods and products.

Photograph by Bloomberg

Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result. It may be pictured as the threads of an immense spider web formed over millennia, with the number and reach of these threads increasing over time. People, money, material goods, ideas, and even disease and devastation have traveled these silken strands, and have done so in greater numbers and with greater speed than ever in the present age. When did globalization begin? The Silk Road, an ancient network of trade routes across China, Central Asia, and the Mediterranean used between 50 B.C.E. and 250 C.E., is perhaps the most well-known early example of exchanging ideas, products, and customs. As with future globalizing booms, new technologies played a key role in the Silk Road trade. Advances in metallurgy led to the creation of coins; advances in transportation led to the building of roads connecting the major empires of the day; and increased agricultural production meant more food could be trafficked between locales. Along with Chinese silk, Roman glass, and Arabian spices, ideas such as Buddhist beliefs and the secrets of paper-making also spread via these tendrils of trade. Unquestionably, these types of exchanges were accelerated in the Age of Exploration, when European explorers seeking new sea routes to the spices and silks of Asia bumped into the Americas instead. Again, technology played an important role in the maritime trade routes that flourished between old and newly discovered continents. New ship designs and the creation of the magnetic compass were key to the explorers’ successes. Trade and idea exchange now extended to a previously unconnected part of the world, where ships carrying plants, animals, and Spanish silver between the Old World and the New also carried Christian missionaries. The web of globalization continued to spin out through the Age of Revolution, when ideas about liberty , equality , and fraternity spread like fire from America to France to Latin America and beyond. It rode the waves of industrialization , colonization , and war through the eighteenth, nineteenth, and twentieth centuries, powered by the invention of factories, railways, steamboats, cars, and planes. With the Information Age, globalization went into overdrive. Advances in computer and communications technology launched a new global era and redefined what it meant to be “connected.” Modern communications satellites meant the 1964 Summer Olympics in Tokyo could be watched in the United States for the first time. The World Wide Web and the Internet allowed someone in Germany to read about a breaking news story in Bolivia in real time. Someone wishing to travel from Boston, Massachusetts, to London, England, could do so in hours rather than the week or more it would have taken a hundred years ago. This digital revolution massively impacted economies across the world as well: they became more information-based and more interdependent. In the modern era, economic success or failure at one focal point of the global web can be felt in every major world economy. The benefits and disadvantages of globalization are the subject of ongoing debate. The downside to globalization can be seen in the increased risk for the transmission of diseases like ebola or severe acute respiratory syndrome (SARS), or in the kind of environmental harm that scientist Paul R. Furumo has studied in microcosm in palm oil plantations in the tropics. Globalization has of course led to great good, too. Richer nations now can—and do—come to the aid of poorer nations in crisis. Increasing diversity in many countries has meant more opportunity to learn about and celebrate other cultures. The sense that there is a global village, a worldwide “us,” has emerged.

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Home — Essay Samples — Sociology — Globalization

Essays on Globalization

Hook examples for globalization essays, "the global village" metaphor hook.

"In the age of globalization, our world has transformed into a 'global village.' Explore the implications of this metaphor and how it has reshaped our understanding of interconnectedness and cultural exchange."

The Impact of Digital Connectivity Hook

"In an era where a single tweet can reach millions, digital connectivity has revolutionized globalization. Delve into the profound impact of the internet, social media, and technology on global interactions."

The Paradox of Local vs. Global Hook

"Globalization blurs the lines between local and global identities. Analyze the paradox of preserving cultural heritage while embracing the globalized world and how this tension shapes our societies."

The Global Marketplace Hook

"Globalization has ushered in an era of unprecedented trade and economic interconnectedness. Explore the dynamics of the global marketplace, from multinational corporations to supply chains spanning continents."

Cultural Fusion and Identity Hook

"Globalization has led to a melting pot of cultures, but what happens to cultural identities in the process? Investigate how globalization impacts the preservation and evolution of cultural identities."

The Challenges of Globalization Hook

"While globalization offers numerous benefits, it also presents challenges. Examine issues such as income inequality, cultural homogenization, and environmental concerns that arise in a globalized world."

The Future of Globalization Hook

"As we stand on the brink of a globalized future, what can we expect? Join me in exploring the potential trajectories of globalization, from its impact on politics to the role of emerging technologies."

The Best Globalization Essay Topics

• The Impact of Globalization on Local Cultures: Integration or Erasure?
• The Impact of Globalization on Cultural Identity in Anthropological Studies
• Globalization and Economic Inequality: Bridging the Gap Between Rich and Poor
• The Role of Technology in Advancing Globalization and Its Social Implications
• Environmental Consequences of Globalization: Challenges and Sustainable Solutions
• Analyzing the Advantages and Disadvantages of Globalization
• The Influence of Globalization on Education and Cross-Cultural Exchanges
• Global Political Dynamics: How Globalization Affects Sovereignty and Governance
• Globalization and Health: The Spread of Diseases and Global Health Initiatives
• Consumer Culture and Globalization: The Homogenization of Global Markets

Globalization: a Double-edged Sword

Globalization pros and cons, made-to-order essay as fast as you need it.

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Difference Between Globalisation and Americanisation

The effects of globalization on developing countries and its advantages and disadvantages, the impact of globalization to cultural identity, globalization, its causes and effects on the world, let us write you an essay from scratch.

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Good and Bad Impact of Globalization

History of globalization and its benefits for society, financial, social and political effects of globalization, globalization: global concerns of global development, get a personalized essay in under 3 hours.

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Globalization's Theories and Effects in The Modern World

The effects of globalization on health and medicine, a study on globalization and its various sides, overview of five articles about globalization, globalization: two sides of the arguments both for and against, globalization and its positive and negative sides for india, the advantages and disadvantages of the globalization process based on real-life examples, criticism and controversial benefits of globalization, globalization: importance of english nowadays, the impact of globalization, nationalism and protectionism on india, an overview of the overall impact of globalization, research of effects of globalization on the media in the world, globalisation as an economical, political and cultural process, pro globalist and anti globalist view from developed country perspective, how global issues impact individual states, electronic commerce in the globalization era, the effect of globalization and americanization on mass media, components of globalization: concept sociocultural and social globalizations, how the impact of globalization on illicit drug trafficking has affected international security, discussion of whether globalization is good or bad for the indian economy.

1. Halliday, T. C., & Osinsky, P. (2006). Globalization of law. Annu. Rev. Sociol., 32, 447-470. (https://www.annualreviews.org/doi/abs/10.1146/annurev.soc.32.061604.123136) 2. Fischer, S. (2003). Globalization and its challenges. American Economic Review, 93(2), 1-30. (https://www.aeaweb.org/articles?id=10.1257/000282803321946750) 3. Lang, M. (2006). Globalization and its history. The Journal of Modern History, 78(4), 899-931. (https://www.journals.uchicago.edu/doi/abs/10.1086/511251?journalCode=jmh) 4. Spring, J. (2008). Research on globalization and education. Review of educational research, 78(2), 330-363. (https://journals.sagepub.com/doi/abs/10.3102/0034654308317846?journalCode=rera) 5. Scott, A., & Storper, M. (2003). Regions, globalization, development. Regional studies, 37(6-7), 579-593. (https://www.tandfonline.com/doi/abs/10.1080/0034340032000108697a) 6. Jameson, F. (1998). Notes on globalization as a philosophical issue. In The cultures of globalization (pp. 54-78). Duke University Press. (https://www.degruyter.com/document/doi/10.1515/9780822378426-005/html?lang=de) 7. Frankel, J. A. (2003). The environment and globalization. (https://www.nber.org/papers/w10090) 8. Teeple, G. (2000). What is globalization?. Globalization and its discontents, 9-23. (https://link.springer.com/chapter/10.1057/9780333981610_2)

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• Sociological Imagination
• Modern Society
• Social Change
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IELTS Essay, topic: The advantages and disadvantages of globalization

• IELTS Essays - Band 8

Even though globalization affects the world’s economies in a very positive way, its negative side should not be forgotten. Discuss.

Globalization is such a commonly used term in the century. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. It is undeniable that globalization has resulted in both positive and negative effects which must be addressed accordingly.

Secondly, several companies from the more developed countries have already ventured to establish foreign operations or branches to take advantage of the low cost of labor in the poorer countries. This kind of business activity will provide more influx of cash or investment funds into the less developed countries.

However, one cannot deny the negative effects which derived from globalization. One crucial social aspect is the risk and danger of epidemic diseases which can easily be spread as the transportation becomes easier and faster in today’s advanced society. This is evidenced in the recent birds flu disease which has infected most Asian countries over a short period of time.

As large corporations invest or take over many offshore businesses, a modern form of colonization will also evolve which may pose certain power pressure on the local governments of the less developed countries. Unemployment rates in the more developed regions such as Europe may also escalate as corporations choose to outsource to the cheaper work force from Asian countries.

In conclusion. to reiterate that globalization is inevitable and we must urge individuals, companies and governments to use a more balanced approach by taking the appropriate steps to deal with matters relating to the financial or economical gains verses the social, political or ecological concerns of the world.

This essay is too long, 318 words instead of 250-265. Otherwise (except for some minor grammatical errors) it is a very nice work. It covers the task, has the right structure, the paragraphs are coherent and are logically connected by elegantly used linking words, the structure of sentences is fine and so is your vocabulary. Seems worthy of Band 7.5 or 8.

Click here to see more IELTS essays of band 8

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Home / Essay Samples / Social Issues / Globalization / The Effects of Globalization: A Comprehensive Analysis

The Effects of Globalization: A Comprehensive Analysis

• Category: Economics , Social Issues
• Topic: Globalization , Indian Economy

Pages: 3 (1463 words)

• Downloads: -->

History of Globalization

Features of globalization.

• It leads to greater interaction between different populations in social terms.
• Culturally, globalization represents the exchange of ideas, values and artistic expression between cultures and even a trend towards the development of a single world culture.
• Globalization has paid political attention to intergovernmental organizations such as the United Nations and the World Trade Organization.
• Legally, globalization has changed the creation and enforcement of international law.

Factors That Led to Globalization

Globalization on the example of indian economy.

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