This
paper explains that the globalization of the world's economy began with the
colonial powers, such as England and Spain,
expanding their influence through trade into ever-expanding empires. The author points out that, after the Second World War, new world economists Harry Dexter White and John Maynard Keynes developed the ideas upon which the
current globalized economy is based. Its goals were to open up gradually
global markets to the extent seen prior to the Great Depression. The paper relates that the success of the current globalization is possible because (1) consumers no longer prefer items made "at home" and (2)
information technologies have expanded global business transactions to the fingertips of the
individual.