GGR112H1 Lecture Notes - Lecture 2: Multinational Corporation, Mercantilism, Industrial Revolution
19 Dec 2017
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Document Summary
Globalisation - key term of a master disclosure of the general state of the world, shapes the reality it purports to describe. 3 myths (sparke 2013: tide that lifts all boats. Enabling individual, corporations and nationstates to reach around the world farther, faster, deeper and cheaper than ever before not really analytical. Sink or swim approach (not encouraging to working together and efficiently) Race to the bottom (nations, companies or states attempt to undercut the competition"s prices by sacrificing standards, safety, regulations, wages, etc ) A qualitatively new stage in the history of world capitalism . Capitalist class: owns the means of production. Labouring class: owns nothing but their own labour power. Constant drive for accumulation the labouring class. Industrial evolution where result of this was emphasized. Result of competition (competing for higher profits on quantitative products) Leads to productivity gains (expand the production) Intensive expansion: new sectors previously not subject to the laws of capitalism.
