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The Globalization of Capitalism.pdf

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Thomas Boogaart

In the last 50 years, the process of globalization has tremendously accelerated. The system I was born into is one that was made and created. John Lennon's song: A global future that we don't. You can call it anarchy, utopianism, etc. Keynesian System started going out of whack in the 1970s. American model of laissez fair capitalism emerged and became popular What is globalization? What are the main economic, social, cultural, and political features of globalization? Important in understanding globalization: Have a global perspective. We are living in a period of time where our industrial economy is productive. Nation-states no longer control the game. Forces shaping our realities are coming from outside the borders of Canada. For people in the non-western world, globalization isn't about economics, it's about culture. What piggybacks on the back of market integration is cultural baggage. Ie, France has become Americanized. In the Islamic world and other places, people are struggling to maintain their culture. Lowering of trade barriers: Development has sought out opportunities all throughout the world. Globalization has created new losers and new winners. Globalization: extension of capitalist system across the globe Capitalism: system of commodification. Assigns value to stuff based on the market price. I. Globalization: Various theories and Definitions a. Theories i. Jack Welch: part of the group of people who believe that globalization would provide wealth by providing many different opportunities ii. Controversy: globalization had critics from the beginning 1. Jimmy carter: globalization is bringing high paying jobs from places like canada and making them low paying jobs somewhere in the caribbean, and this will not provide any kind of significant benefit to anybody. 2. Culture and politics: globalization largely about culture. Globalization has largely unleashed american culture on other people's civilizations. iii. Approaching a definition 1. Telecommunications revolution helped to invoke globalization 2. Transportation: the most radical aspect of tech revolution was container revolution. It was low tech but it was an essential component a. Before 1950, imagine a boat coming in with bananas. How would these bananas come in to gatineau? They would not be in containers, a fisherman would have to haul the bananes. i. Container system provided an efficient way of transporting. 3. Production a. Gone in various stages after WWII i. First stage is replacing human labour on assembly lines with machines because it is more efficient. ii. Started experimenting with removing assembly line to di
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