Full Project – THE IMPACT OF GLOBALIZATION ON THE INDUSTRIAL GROWTH OF NIGERIA (1980 – 2010)

Globalization has benefited the advanced countries at the expense of the less developed countries. To the Marxists, this is not surprising as they hold that globalization is a product of the capitalist. They argued that the capitalist system epitomizes exploitation, it involved class conflict and it is a system of unequal relation marked by an unequal exchange. It is a system where one group must benefit at the expense of the other. Thus globalization being of such a system is bound to be exploitative. Several scholars has traced the origins of globalization in modern times, others trace its history long before the European age of discovery to the new world. Some even trace the origins to the third millennium BCE. Since

the beginning of the 20th century, the pace of globalization has intensified at a rapid rate, especially during the post cold war era. The term globalization has being in use since the mid-1980’s and since the mid 1990’s.However, the main originators of globalization can be traced to the classical economists that showed that trade can be beneficial to their nation. Globalization developed through the

Pre-capitalist era to the period of industrial revolution in England and evolved into what we are seeing today.