Sociology 1025A/B Lecture Notes - Lecture 8: North American Free Trade Agreement, International Monetary Fund, World Trade Organization

• School: Western University
• Department: Sociology
• Course: Sociology 1025A/B
• Professor: Lauren Barr

Document Summary

Globalization is a set of social processes that appear to transform weakening nationality into globality (cid:894)e(cid:454). (cid:862)the greater i(cid:374)ter(cid:272)o(cid:374)(cid:374)e(cid:272)ted(cid:374)ess of the (cid:449)orld"s people(cid:863)(cid:895) Emergence of globalization: historically trade routes, migration, 19th century technological developments (industrial revolutions, post 2nd world war. Transnational financial institutions: foundation of neoliberalism, international monetary fund (imf, world bank, world trade organization (wto) Global assembly line: concentration of economic power. 44 of the top 100 economies in the world are corporations, not countries. Nafta to conclude that it failed to provide the boost to living standards they expected while exacerbating a wide array of socioeconomic problems. Creating lack of labor and environmental protections. Political dimension inequality, stagnating wages and living standards. Job displacement for workers: declining power of nation-states, power is transferred upward to international organizations, power is transferred downward. Cultural dimension: cultural ideas and products are conveyed transnationally through.