– Description of the Global System and The Economic Structure of different nations in the system: for example: at which level is a nation or nations place in the global system?
– What economy sector dominates the economic structure of the nation(s)
– How the global system work
-Describe the effects of the global economy on society and on individual people’s life, especially its effect on American society and American people, and relate these effects to the above-mentioned phenomena.
-Discuss the historical, environmental, and technological factors that may contribute to the development of the global economy.
Use some of the terms: the world system (or global economy),core nations, semi peripheral nation, peripheral nations, primary economy, secondary economy, tertiary economy, deindustrialization, the first world, second world, the third world, the developed nations, developing nations, underdeveloped nations, subsistence economy, industrial economy, post-industrial economy
From a sociological/global perspective, why a lot of young people delay marriage in present day of American society, or why majority of them have to get a college education?
International trade has gained much importance in the last few decades. Not only goods, but the global flow of technology, people, culture, ideas, and capitals are also given much value. Production and manufacturing of goods in today’s world involves the assembly of parts and pieces from all over the world. Nations are believed to be evolving through the globalization of the economic system. Sociologists say that the best results can be achieved through economic actions if they are nested, i.e., they occur within a combination of international, national, and local institutions. The universality of human rights has also been made possible through globalization. America is an important and leading nation in this global system, and its society has shown effects from the global effects. In the result of which, they tend to pursue their career for a better future, and it has resulted in the trend of late marriages among Americans. Moreover, attaining education has also increased among them because higher education guarantees their competitiveness. Thus, global system has changed the American society sociologically and economically, and this trend is witnessed through late marriages of Americans and tendency of getting a more college education.
The US accounts for almost one-fourth of the global GDP, one-third of capitals and one-fifth of the World’s FDI due to its interconnectedness as well as its size (Deutsch). The international trade is considered of much importance for US economy as it is responsible for a huge share of the country’s output, its position in the financial markets of the world as well as its labor productivity growth. The US conducts major trade of chemicals, electronics, business services with counties like Canada, China, and Mexico (Kose, Lakatos and Ohnsorge).
China has also become the second largest economy in the world. Its contribution to the global gross domestic product is 9.3 percent. It has dramatically changed its position in the global economy. China did not even register on the World’s economic scale till 1979. But due to its extraordinary performance, the economy of China has now a powerful impact on the economies all around the World (Justin Yifu). There exist certain dominant sectors that drive the economies of the states. The main sector that has a strong influence on India’s GDP is agriculture and the tertiary industries also known as the service sector.
Despite all the advantages, the globalization of the economic system has also been negatively affecting the family values and interpersonal relationships of individuals. The priorities and social values of the people also seem to evolve with the increase in globalization. It has made individuals more materialistic. The exchange of culture and traditions between countries results in the loss of real and authentic cultural identities of the states. Their family relations and values change, and they feel isolated. Globalization also believes to increase the divorce rate. People have become quite individual oriented. Globalization also promotes immigrant workers. As people work in faraway countries, their wives and children spend most of the time without them. This result is weakened relationships, and sometimes men or women get involved with others besides their spouse to fulfill their sexual desires. Marriages become secondary, and people tend to avoid them as much as possible (Abd-Rahman and Uddin).
Three reasons support the postponement of marriage in sociology. Most people tend to delay their marriages because of the cohabitation paradox. They believe that having a place to live before getting into the relationship of marriage lessens the risk of separation and divorce. It somewhat makes sense. But it is not true. Research shows that cohabitation before marriages results in increased rates of divorce. The second reason that is causing the Millennials to delay their marriages is the new mindset of experimenting sexually. They do not want to settle down in life before they have tried sexual chemistry with the person. People want to make sure that they are compatible with their partner before they enter into any commitment. The third reason marriage is now viewed as a problem rather than a blessing (Carroll). Thus, the trend of postponement of marriage has taken a rise and now, the average age for women to get married, has increased to 27 while for men, it is 30 (Nisen).
There exist some drivers that determine the relationship between the environment and the country’s economy. The environmental policy of a country can incentivizes innovations and help organizations to save cost-effective resources. Investment in infrastructure can minimize the environmental risks to the growth of the economy (Everet, Ishwaran and Ansaloni). The purpose of advancements in technology is to enhance productivity and reduce costs. Globalization promotes modernization and technology is the best way to achieve it. The use of advanced technology results in cheaper goods that lead to the best international competitiveness of the countries. Technology can have a significantly positive effect on a country’s economy (Caliskan).
The paper concludes that the pursuit of success in the competitive global market, American society has become success and performance oriented. Being the most developed and leading nation in the global system of trade and economy, American society has become much more competitive, and this has affected the sociological structure of the country. Young people tend to consume energy for a better future and they do not value entering into the bond of marriage. They keep postponing marriage as it can be decided any time. They focus on career and on the result; they delay marriage in present-day America. Moreover, getting a college education at least is also necessary for them because it guarantees a successful career ahead. It also results in a late marriage of young people in America because they have to spend time getting an education and then getting a job. However, it is recommended that family is an important institution in society and American young people should not ignore this.
Work Cited
Abd-Rahman, Saodah and Mohammad Sayed Uddin. “The Impact of Globalization on Family Values.” International Journal of Advanced Research 5.8 (2017): 968-977.
Caliskan, Hulya Kesici. “Technological Change and Economic Growth.” Procedia-Social and Behavioral Sciences 195.2015 (2015): 649-654.
Carroll, Jason S. “Delaying Marriage: The Trends and the Consequences.” IDS. IDS, March 2017. Web. 6 December 2018.
Deutsch, Alison L. “The 5 Industries Driving the U.S Economy.” Investopedia. Investopedia, 22 October 2018. Web. 5 December 2018.
Everet, Tim, et al. “Economic Growth and the environment.” Assets Publishing Services. Defra, March 2010. Web. 5 December 2018.
Justin Yifu, Lin. “China and the Global Economy.” China Economic Journal 4.1 (2011): 1-14.
Kose, M Ayhan, et al. “Understanding the global role of the US economy.” VOX. VOX, 27 February 2017. Web. 5 December 2018.
Nisen, Max. 5 Reasons Why People Are Getting Married Later And Later In Life. 28 October 2013. Web. 6 December 2018.
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