“Globalization” refers to the increasingly international relationships involving culture, people, and economic activity. Most often it refers to economics: the planetary distribution of locations where goods and services are produced, enabled through the reduction of barriers to international trade such as tariffs, export fees, and import quotas. Globalization has accompanied and contributed to economic growth in developed and developing countries through increased specialization and the principle of comparative advantage (the ability of a person or a country to produce a particular good or service at a lower cost). The term can also refer to the transnational circulation of ideas, languages, and popular culture...
The economy is an expression of human nature and reflects our human relations. This is why it must match the level of development of humanity. Thus, we must understand the characteristics of the global-integral reality, where we are all interdependent. The integral reality emphasizes the need to achieve mutual guarantee in order to obtain economic and social prosperity and utilize the advantages of adjusting human relations to the global-integral system. The laws of the new, mutual guarantee economy will reflect this transformation in human relations. Only such a process will guarantee that the economy is stable, efficient, and maintains a sustainable balance...
Reality dictates that we adjust the current economic and social systems to ones based on mutual consideration, collaboration, synergy, sharing information and resources, and balanced consumption. We must also unify economic, fiscal, and monetary mechanisms. These new systems express mutual guarantee, while the current economy is based on maximizing personal utility and profit, competitiveness, and stimulating inherent conflict among people and countries...
An economic policy based on mutual consideration will lead to allocating necessary public resources to raising lower income classes above the poverty line. At the same time, workshops and training in life skills and personal finance will help develop personal and economic independence. Living beyond one’s means, over-consumption, and reckless use of credit have become a global pandemic that requires treatment. These have played a major role in the global economic crisis that has been going on since 2008, if not before...