Facets of Globalization
Hany H. Makhlouf

Abstract
Most definitions of globalization focus on its impact on world trade and the flow of capital and other factors of production across national lines. The stated goal is frequently to increase economic prosperity through greater international economic integration. Rarely are other consequences of globalization given the attention they deserve by scholars and commentators in order to better understand it from its multiple facets and dimensions. This article tries to bridge this gap between the economics of globalization on the one hand, and the politics, sociology, and psychology of globalization on the other. Therefore, it offers an integrated approach to such an important phenomenon that is not only impacting incomes, consumption, the international division of labor, and economic interdependence, but also is changing cultures, ways of life, social stratifications, value systems, norms, and the young people’s sense of cultural identity.

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