Chapter 19-Globalization Mar 18 2009

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23 Aug 2010
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March 18th, 2009
Chapter 19: Globalization
Introduction
x The Burger and Fries Go Global
o Our food is Globalized
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o NA markets of fats food influences global eating
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o Controversy of the definition of globalization
o Globalization + baloney
x Defining Globalization
o Globalization: social, economic, political process that makes it easier for people, goods, ideas, capital, to travel
around the world at an unprecedented pace (more quickly and efficiently than before)
o Email, IM, telephones, web cams
o Space-Time Compression: we are no longer slowed down by long distances
o Virtual Communities: a pace where people can meet, share ideas build relationships across state borders without
ever meeting them
o Digital Divine: inequality in access to means of communication
o History- world started to becRPH๎€ƒยณVPDOOHUยด๎€ƒZLWK๎€ƒWKH๎€ƒLQYHQWLRQV๎€ƒRI๎€ƒVWHDPERDW๎€๎€ƒORFRPRWLYH๎€ƒWHFKQRORJLHV
x The Global and the Ethical
o Globalization is not good or bad
o Consequences of globalization affect humans/environment
o Ethical Debates
๎‚ƒ Rose substantially after 9/11
๎‚ƒ Widening gap between rich and poor in global economy
x Top-Down vs. Bottom-Up Globalization
o Top Down: involves actions of groups promoting globalized capitalism and free trade; dominated by Neoliberal
politics (associated w/ US globalization)
o Neoliberalism: economic policies; free market economics; retreat from state intervention/regulation; individual
responsibility; less protection for labour/environment; privatization of state resources
o Bottom Up: groups that criticize the injustices that result from globalization process; advocate democracy;
environmental protection; social justice in global context
Capitalists Go Global
x The Rise of Financial Capital
o Financial capital has grown much faster than production and trade
o Fully computerized global financial system-> traders can move around millions of dollar to profit from minuscule
changes in currency rate
o Casino Capitalism: stand to make or lose money in short periods; Neoliberal policies, 80s
x Overcapacity and Centralization
o *OREDO๎€ƒFRUSV๎€ƒDUH๎€ƒSURGXFLQJ๎€ƒPRUH๎€ƒWKLQJV๎€ƒWKDQ๎€ƒWKH๎€ƒZRUOGยถs consumers can afford to purchase
o Financial markets are booming, wealth appears to be growing exponentially for some
o Corps have transformed into meaner, leaner, bigger, more diverse, more involved with complex financial dealings
around the world
o To survive overcapacity corps-> trimming operating costs
x Growth of the Corporate Giants
o Corps have become, bigger and more powerful than many national governments
o Corp pressure-> Decrease of corporate taxes= allowing them to get bigger/richer
x Critics of Corporate Power
o Bottom up globalizers reaction to growth of global corps=
๎‚ƒ Anti sweat shop movements
o Corps response to criticism
๎‚ƒ Changing company name
๎‚ƒ Introduce best practices for labour/environment
o Corps have grown in strength
o *RYยถWV๎€ƒORVW๎€ƒJURXQG
o Globalization= end of state system?
Are States Still Relevant In A Global World?
x Democratic Deficit: ordinary citizens are disenfranchised from the process of governance
x The Three Sisters
o IMF, WTO, WB
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