SOC101Y1 Study Guide - World Trade Organization, International Monetary Fund, Jared Diamond
Document Summary
Globalization is a social, economic, and political process that makes it easier for people, goods, ideas, and capital to travel around the world at an extraordinary pace. Essentially making the world look and feel smaller. Globalization as a process means it is neither naturally good or bad. It has an impact on the environment and every single human being in a different way. (e. g. digital divide, inequality of access to means of communication) Top-down globalization involves the actions of groups promoting globalized capitalism and free trade. Globalization from below: the actions of groups that criticize the injustices that result from globalization processes. It encompasses multiple perspectives: moderate critiques of neoliberalism, radical anti-capitalist positions, various forms of anarchism (lawlessness, armed peasant uprisings, fair-trade coffee projects. Financial capital (in economic terms): money used for investment, currency trading (98% of money exchanged on any given day is not tied to goods and services)
