SOCI 3340 Lecture Notes - Lecture 4: Capital Market, North American Free Trade Agreement, Free Trade
12 Oct 2017
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Document Summary
In the last quarter of the 20th century capitalism became reorganized: 3rd industrial/technological revolution, technological development built into capitalism more than previous economic systems, the entire planet has become capitalist. It is old because it appeals to relentless competition in the pursuit of profit and individual satisfaction (deferred or immediate) is its driving engine. Information technology driven capitalism can go green: the more we can dispense humans and use more machines to replace labour that produces value. It is fundamentally new because it is tooled by new information and communication technologies that are at the roots of new productivity sources, of new organizational forms, and of the formation of a global economy. Illusion of development that everyone can catch up to the others: dependency theory since the 1970s uneven and unequal development is not a matter of mere of backwardness but is part of the logic of the system.
