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Posted: August 5th, 2013

Global Capitalism Reply

Student 1

Student one views globalization as an issue that has a weakening effect on the influence of global nation states. The interaction between different countries in many aspects has been heightened owing to the development in technology. This however has a weakening effect on nation states as individuals as well as corporations now have the ability to connecting much easier. In support of this view, the book Capitalism by Paul Bowls establishes that the twenty first century was ushered in by technological change that had a propelling effect on globalization. In terms of economy for example, the telecommunications and information revolution has allowed global corporations to communicate with each other in a cheap and fast means. Consequently, this constitutes a major influence on the global economy.

Globalization brings about both negative and positive prospected effects on worldwide nations. The student also speaks about how globalization will have a weakening effect on the influence of global nation states. Indeed, despite the idea of globalization leading to a common and efficient social, political, and legal system, this move also runs the risk of leading to a catastrophic system. Global capitalism could bring about problems in the social, political, economical, and cultural system on many nations. With corporations wielding all the power on global matters, there lacks any authority to govern their endeavors. These corporations are forms of business and every business is driven by the desire of making more profit. This implies competition among the corporations for the most profitable fields as well as resources. Rather than a lowered per capita income, the gap will only increase. This will lead to people becoming unequally rich and by a vast margin.