Globalization perpetuates economic interdependence between countries. Through the increasing volume of goods and services moved across borders, globalization has created international capital flows and fostered the rapid diffusion of technology. According to Dr. Ismail Shariff, “Globalization is the worldwide process of homogenization of prices, products, wages, interest rates and profits.” Three forces control how globalization fosters development. These factors include the role of human migration, international trade and financial market integration. Discussing the pros and cons of globalization, a correlation between these factors reveals the intertwined web known as world trade. Thomas Friedman once said: “In Globalization 1.0, which began around 1492, the world went from large to medium. In Globalization 2.0, the era that introduced us to multinationals, we have moved from medium size to small size. And then, around 2000, Globalization 3.0 came along, where the world went from being small to tiny.” By this Friedman meant that the expansion of globalization has made the world “smaller”. Over the past fifty years, globalization has completely altered the way nations communicate with each other; make communication between nations instantaneous. Today, foreign economies are heavily dependent on each other to anticipate, predict and control the flow of capital. The benefits of globalization have been far-reaching. Economic trends reveal that productivity growth is more evident when countries produce according to their comparative advantage. A nation has a comparative advantage in producing a good or service if it can produce it at lower costs than other nations. In Adam Smith's book,......at the heart of the paper......global market and promotion of economic progress.Works Cited"Globalization." Np, nd Web. 10 April 2014. “North American Free Trade Agreement (NAFTA).” Office of the United States Trade Representative. Np, nd Web. 09 April 2014. .Skinner, Andrew. Adam Smith The Wealth of Nations. New York: Pelican Classics, 1979. Print.Smith, Adam, Edwin Cannan, and Max Lerner. An inquiry into the nature and causes of the wealth of nations. New York: Modern Library, 1937. Print.Sowell, Thomas. Basic Economics: A Citizen's Guide to Economics. New York, NY: Basic, 2000. Print."Thomas Friedman." Joy of thought. Np, nd Web. April 10. 2014. .