What is globalization, and what are some of the traditional international trade theories that support the concept of globalization?
             Globalization has been defined by a multitude of examples and constructs. In the context of the 21rst century, globalization has been written by Thomas Friedman, author of The World is Flat (2005) and The Lexus and the Olive Tree (1999). In the latter book, Friedman describes globalization as follows: "The inexorable integration of markets, nation-states, and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than ever before. The spread of free-market capitalism to virtually every country in the world " (T.L. Friedman, The Lexus, and the Olive Tree, 1999, p. 7-8).
             The following international trade theories support the concept of globalization. Dr, Michael Porter's Determinant of Competitive Advantage as defined in his books and articles on the Competitive Advantage of Nations (1990) reflect an extension to the Ricardian-based theories of global trade competitiveness emanating from the productivity of specific industries within nations, stating that human, not automated productivity is the clearest measure of national competitiveness. Heckscher and Ohlin (1991) have stated in much of their analysis that the basis of specialization and hence trade advantages are the results of differences in factor endowments and that the rate of change across factor endowments within nations has a significant effect on their progress towards economic growth. Additional international trade theories that support the concept of globalization include the theory of Absolute Advantage as defined by Adam Smith in Wealth of Nations (1776) is also Ricardian in its approach to defining free trade. The theories of Comparative Advantage and Factor Endowments are also international trade theories t...