In The Late 20Th Century, Technology Began Advancing So

In the late 20th century, technology began advancing so quickly that entire world economies underwent extraordinary transformations in very little time. It used to be only a handful of powerful people and corporations interacting in global trade and commerce, but technology has made it so â€Å"countries like India are now able to compete for global knowledge,† giving leaders and companies the ability to work with more nations than ever before (Friedman 7). The internet has given men and women the power to connect, communicate and provide information to people across the planet in an instant. It has given people the opportunity to seek knowledge, educate themselves and single-handily play a role in the world economy. This is called†¦show more content†¦So far Thomas Friedman has identified three eras of globalization. Globalization 1.0 lasted from 1492 (when Columbus set sail to the ‘new world’) to 1800. Friedman describes this as when we â€Å"shrank th e world from a size large to a size medium† (9). This era began discovering new lands and set up trade with outside civilizations. Globalization 2.0 lasted from 1800 to 2000 when the world transformed to a â€Å"size small† due to the industrial revolution and the expansion of multinational corporations. And finally, globalization 3.0 when the world went flat because of remarkable technological advancements. Other nations, including those in the third world category, are finally able to access vast amounts of knowledge, and their previously closed off economies are now open to provide more work for their people. The economies of these nations exploded from a large labor force and exportation, but the American economy didn’t do as great. From 2000 to 2014, the share of adults living in middle-income households fell in 203 of the 229 US metropolitan areas. Global commerce has been dominated by transnational companies that do not care for individual countries, but rather cheap wages and productivity, which undeveloped nations have. Jobs that require high school diplomas, or are plain simple, are either sold off to another country or automated. Automation is the replacement of human beings with robots or machines in order to reduce salary expenses andShow MoreRelatedMedical Field Essay1353 Words   |  6 Pagessimilar to a casual visit with a personal friend. The fact of matter is that we as Americans are lucky to have designed a medical field that is easily reachable in case of an emergency. There have been many techniques developed throughout the past centuries. In recent years, it has become vital for many people to set up appointments with doctors as a monthly check up to monitor their health and well-being. 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