Globalization Vs Localization

Some definitions we ought to get right:

globalization. n.
1. the deregulation of trade and finance in order to enable businesses and banks to operate globally.
2. the emergence of a single world market dominated by transnational companies.
(Often confused with international collaboration, interdependence, global community.)

"Globalization is really a code name for corporatization. It's an attempt by the largest corporations in the world, and the largest banks in the world, to re-engineer the world in such a way that they won't have to pay decent wages to their employees, and they won't have to pay taxes to fix potholes and to maintain parks, and to pay pensions to the old and handicapped." 
~ Paul Hellyer, former Deputy Prime Minister of Canada

localization.n.
1. the removal of fiscal and other supports that currently favor giant transnational corporations and banks.
2. reducing dependence on export markets in favor of production for local needs.
(Often confused with isolationism, protectionism, the elimination of trade.)

"When production and consumption both become localized, the temptation to speed up production, indefinitely
and at any price, disappears. All the endless difficulties and problems that our present day economic system
presents, too, would then come to an end."~ Mahatma Gandhi, 1934

"Drawing in our economic boundaries and shorten[ing] our supply lines… permit us literally to know where
we are economically. The closer we live to the ground that we live from, the more we will know about our
economic life; the more we know about our economic life, the more able we will be to take responsibility for it."
~Wendell Berry

Sourced from : http://www.theeconomicsofhappiness.org/study-guide