Globalization and the experiences of aging.

Globalization is a product of urbanization and economic intensification which has escalated since the 1970s. Globalized markets have created many of the features of modern life including consumerism, increased cultural homogeneity, increased social polarization, erosion of the sovereignty of nation states, and delocalization of daily life. The consequences of globalization for older people are primarily disadvantageous. Most notably is the restructuring of the redistributive economy. The globalization of labor results in lower wages and marked social stratification. Also family life is altered with fewer relatives who must balance work and family obligations.