This essay will be analyzing the perceived benefits and detractors that globalization has on human populations and the planet. The issue of when globalization occurred and how it is defined is the first issue that will be explored as there are a few conflicting interpretations. Many people feel that globalization has had a positive effect on the world by connecting far away communities and expanding business opportunities. Others argue globalization has a negative effect overall because it allows the more powerful nations to exploit foreign populations for labor and resources and gives multinational corporations an unfair advantage over small business. The role of the IMF and the World Bank in the global market will also be explored as these organizations are key regulators of the global economy. This essay will argue that the negative impacts of globalization far outweigh those that are positive and the current system serves the interest of those with the most power and influence at the expense of those without, which is the vast majority.