During the 1400s, an age of exploration began in Europe that lasted several centuries, with nations such as Spain, Portugal, and Great Britain creating vast empires to aid trade and increase prosperity.
Just as modern-day globalization has done, the colonization of distant lands gave Europeans a new knowledge of foreign cultures, including foods, religions, and farming techniques.
However, some economists are critical of globalization, especially the practices that began in the late 1990s.
During that time, a social reform movement often known as the antiglobalization movement began to take shape.
Antiglobalization activists note that contemporary globalization practices have resulted in unfair and devastating conditions in many nations.
They contend that multinational corporations have grown in strength, power, and wealth, while developing nations continue to struggle with dire poverty.
In addition to interlinked economies, globalization has led to a greater sense of connectedness among individuals, making the cultures of the world more accessible and familiar.
Many economists have long argued that a global economic system is a key to worldwide prosperity and peace among nations.
Wealthy and powerful nations have always traded with one another.
Such nations have also established empires by seizing control of other lands to make use of natural resources and inexpensive labor forces.