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There are those that have experienced a negative effect on jobs in some industries.
Some of the traditional theories that support the concept of globalization include Mercantilism, Adam Smith’s theory, Free Trade, and Comparative Advantage (Hill, 2004).
Mercantilism advocated that countries should harmoniously encourage exports and discourage imports. Adam Smith’s theory of absolute advantage occurs when a country is more efficient in producing a particular good than other countries and therefore, should specialize in that production for trade with other countries. Free Trade refers to the absence of government influence through quotas or duties and allows things to happen through natural influence...
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