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Chapter 2: Problem 5

Why might it be easier to recognize the costs of globalization than the benefits?

Short Answer

Expert verified
It is often easier to recognize the costs of globalization as they are immediate and visible, like job losses or decline in certain sectors. The benefits, while significant, are often subtler, long-term, and require understanding complex economic dynamics.

Step by step solution

01

Identification of Costs

Globalization's costs can be easier to recognize because they're often tangible, immediate, and highly visible. These could include job losses due to offshoring, declining industries, and the disruption of local cultures.
02

Understanding the Benefits

On the other hand, benefits can be more subtle and require a broader or long-term view. These could include greater access to goods and services, development of technologies, and opportunities for economic progress in developing nations.
03

Linking Costs and Benefits to Recognition Ease

The visibility and immediacy of the costs could make them more impactful and easier to recognize. The benefits, in contrast, often require an understanding of complex economic principles and long-term impacts, making them less obvious to most people.

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