Globalization and the Islamic-Arab Region: The Need for and Role of Advanced Business Education in the Middle East and Northern Africa

Abstract

Globalization, no matter how one comprehends or views it, has lifted both the real and potential social and economic welfare of millions of individuals around the world. On one side are offerings of great promise for social and economic development on a grand scale. The other side portends a degradation of local cultures and human welfare, if not spirit. The forces behind globalization (worldwide access to technology, finance and information) continue almost unabated. And so too goes the debate. Proponents tout globalization as the triumph of free-market capitalism over closed-market, centrally planned economic systems (communism and to a lesser degree socialism), and the emancipation of the consumer from state controlled economic tyranny. Opponents argue that globalization ultimately leads not only to the destruction of cultural identities but also to the economic, political and social subjugation of underdeveloped nations to more dominate counterparts, particularly the United States. All in all, not much has changed over the years with respect to these two viewpoints. However, two things appear to remain mutually agreed upon and constant with respect to both sides perception of globalization, including, 1) globalization is not going away (and no other model or theory explaining current human development and related challenges is anywhere close to usurping it), and 2) the foremost key to any individual, Country or region benefiting from globalization lies with a solid foundation in education.