Class Notes (1,100,000)
CA (630,000)
UTM (20,000)
POL114H5 (100)
Lecture

Globalization


Department
Political Science
Course Code
POL114H5
Professor
Jurgensen

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November 18, 2010
Globalization
States have been interconnected in some extent
The extent of what we trade to each other (unique)
Third world societies support raw materials
Western Europe manufacturing centres
Global economy existed for 500 years
States try to protect themselves by cutting themselves off from global trade
Specialize on what they produce efficiently and trade
UN estimates 23,000 people that starve to death every single day (mostly children)
Per capital GDP in high income countries is 16x that of per capita GDP in developing
countries
Richest 20% consume 75%
Globalization has been a failure
Measurements are not entirely accurate
GDP is measure of everything that is traded (everything that involves a monetary
transaction)
North America and Europe have strict environmental standards
Steel manufacturers Germany
Germany sold steel plants sold factories to China
Economists strongly favour multinational organizations
Provide investment that otherwise would not be available
BENEFITS:
oInvestment creates benefits (jobs)
oMultinational organizations pay better than local
Favour stabilities
Training
oPeaceful domestic environment
oTransfer of technology
oProvides less developed countries with access to world markets
oEmploy lot of people in particular areas where labour costs are really low
Multinational organizations engines of development
Marxist exploits working class
Dependency theorists interested in making profits
Multinationals exasperate income inequalities
Preventing change since development entails increasing literacy, sets liberty standards,
human rights…,etc.
Form of cultural imperialism
MacDonalds marketing strategy exact same burger
www.notesolution.com
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