Final answer:
Globalization brings both benefits and drawbacks, including development, international awareness, and increased wealth versus potential weakening of countries, dominance of major corporations, and exacerbated economic disparities. Economic freedom may or may not have been achieved for the majority, as outcomes vary around the world.
Step-by-step explanation:
The question of whether globalization is harmful or beneficial is complex, as it involves various aspects of economics and international relations. Globalization can lead to the accelerated progress of development, promoting international awareness, and increasing the potential for wealth. On the other hand, it has been observed that some countries are adversely affected due to the growing influence of large international corporations, which may wield their power to prioritize their interests over those of local populations.
Benefits of globalization include expanded markets, the spread of new technologies, and increased cultural exchanges. Yet, these come with the drawbacks of potential job losses in developed countries due to outsourcing, the undermining of national sovereignty, and environmental challenges. Furthermore, economic disparities between different socioeconomic groups within countries and among countries can be exacerbated by globalization.
Nevertheless, the question remains whether economic freedom for the majority of the world's population has been realized due to globalization. While many enjoy increased access to goods and services, others face new challenges and barriers. Ultimately, globalization's impacts are both multifaceted and far-reaching, affecting economies and societies around the globe.