Globalization and its Implications

Introduction

Both the globalization/localization issue and the question of the nature of the interactions between firms can be considered in light of a distinction between the production of the good and the market in which it is sold. In contrast, in the recorded discs industry both production and the market are global. To their examples we would add that many economic activities are both produced and marketed locally, though mostly not in the transportable goods industries. House building and such consumer services as hairdressing are often local in both senses. Thus it is possible for an industry to ...