Comparison of Globalisation Now and Then: Impact on Italian Economic Development, Tourism and Employment

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Introduction
As there can be found no commonly established definition of globalization, economists
frequently used the term in order to refer to global integration in commodity, economy and
labour markets. However using integration in these markets as a true standard it has been evident
that globalisation is not a recently developed phenomenon. Studies of Mahbubani (2018) have
revealed that since the mid 19th century there has been found at least two significant episodes of
globalisation. The first episode initiated around the mid 19 century and concluded with the
commencement of World War I. However the second chapter had its opening with the
repercussion of World War II and has been ongoing in recent times as well. According to Ritzer
and Dean (2019) in these both significant events of globalization rapid growth as well as output
development has travelled together with major development in the relative size of the financial
systems which have been involved. In the view of Asteriou, Dimelis and Moudatsou (2014)
globalisation has not been a smooth procedure and has frequently been indicated by periods of
accelerated integration as have been witnessed in the 19th century as well as in the second half of
the 20th century along with the periods of dramatic reversals which resulted to valuable
outcomes. The following essay intends to show the comparison of globalisation now and then. In
addition to this the people will highlight the impact of globalisation on the Italian economic
development tourism and employment and its prospective future in the Global evolution.
Discussion
The course of people across various regions has been distinguished as a significant aspect
of the globalisation process in the 19th century. Studies of Baylis, Smith and Owens (2017) have
stated that between 1900 and 1950 over 20 millions of people have migrated from Europe to new
areas of settlements primarily in North and South America Australia as well as New Zealand.

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These flows of migration eventually facilitated the countries to magnetize the rapid intensifying
European labour force which lost its productivity and efficiency in employing people in
European agriculture and thus resulted to the contribution to the major expansion in agricultural
output in newly developed areas of settlement. According to Claval (2016) the interwar period
witnessed immensely constrained migration close to these particular areas of European
settlement. However the situation eventually undergone significant changes in the second half of
the 20th century. Thus it is significant in evoking that period of 1940 which have been
successfully attributed by record population growth. Whilst the global population intensified by
an approximate of 11.5% at an annual rate between 1910 to 1945,the 1950 to 2005 period had
seen an annual population growth of around 1.9% or more than twice which have been witnessed
in the form of period (Ezrow and Hellwig 2014).
Italy has been recognized as the world’s ninth leading financial system whereby its
economic structure primarily has been reliant on services and manufacturing. Studies of Baylis,
Smith and Owens (2017) have revealed that post World War II, Italy undergone a significant
shift in its economic structure. Such a vital shift thus resulted to its transformation from an
agricultural society to one of the highly industrialized economies in the world. Furthermore, in
the view of Ritzer and Dean (2019), the influence concerning the post-war economic
phenomenon reflected to the development of small as well as medium sized enterprises in the
field of export related industries. However, Italy gradually successfully encountered the
dejection in the 1930’s chiefly due to its value as an agricultural state in comparison to the
industrial power of Europe which encountered significant challenges from the Depression that
had its incidence in the 1930’s. Moreover, as per the studies of Claval (2016), Italy in relation to
its financial expansion did not have the spread of industry in order to reinforce the nation’s