Seminar paper from the year 2007 in the subject Economics - Other, grade: 10, Vilnius University (Economics department), course: Globalization, language: English, abstract: One of the most cited buzzwords in the world today is the term "Globalization". However, the word is used quite liberally to describe a variety of issues. Globalization can be defined as the worldwide integration of economic, cultural, political, religious, and social systems. This demonstrates the vast range the term includes. Globalization is not entirely a new phenomenon. This research paper will discuss the following topics of interest: Is the process of globalization providing us a world with a fairer distribution of wealth? Why are there so many people who protest more and more violently against globalization? Is globalization increasing the world s GDP and if so is that the complete and ultimate goal? This research paper attempts to provide answers to these questions. It is written in the frame of the course "Globalization" at Vilnius University and gives a rather personal opinion about special aspects of globalization.