...been debates about the positive and negative aspects of globalization. Those who are in favour of globalization point out that economically weaker countries can have the opportunity to join the global market and export their goods and services and thereby improve their economies. Also, different governments can co-operate together for global welfare and citizens can experience other cultures and become global citizens. The positive aspects of globalization are again overshadowed by its negative aspects which include loss of territorial identity and original culture. International bodies like the World Bank and International Monetary Fund are often Western-focused in their finance policies towards developing countries and there is no real progress or profit for the borrowers. The essay will discuss on the negative impact that globalization brings on the environment and highlight capitalism as its agent for impact on the environment. Beginning with a brief definition of globalization in human...
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...Capitalism What I have learned about ‘FREE MARKET CAPITALISM’ is that it is just a summary term for an array of exchanges that take place in society.(Investopedia, 2005) Mostly free market means the government does not control what you need to do or how you innervate your product. So when someone wants to exchange a product for goods they are allowed to or if they want to create a product for just pure profit because they know the market will buy it they are allowed to do as they want; but as always the government will have some control on taxation and on price control with some restrictions. So over all free market capitalism is where two or more people trade goods or services to better one another. Now Creative Capitalism is much better to me because it benefits a lot of people as well as makes the mind work harder to reassure that profit is made but enough profit to where some is given to solve the world’s inequities. Bill Gates came up with the idea to have big companies like Dell and Motorola and Gap to do the work to help out the world in a way it was beneficial to all. This is mostly explained by making the consumers feel like they are contributing to the need of others by buying their own needs and a portion of the profit they spend goes to the needy. So when someone buys an item from lets say the Gap a small percentage of the proceeds goes to charity. When big companies support organizations like this and let some of the profit go to helping others I feel that...
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...globalisation has transformed our world giving rise to many opportunities although there are numerous risks. However, globalisation has much significance as it affects all our lives. It has benefited many as barriers have been lowered and it has fostered the increased integration of economies. According to Allen and Thomas (2000) ‘Globalisation is a ‘process which embodies a transformation in the spatial organization of social relations and transactions- assessed in terms of their extensity, intensity, velocity and impact-generating transcontinental or interregional flows and networks of activity, interaction, and exercise of power’(Allen and Thomas,2000, p.348). This essay will argue that the term globalisation does deserve the significance it has acquired in recent years, by exploring four themes through the lens of technological advancement, capitalism, the economic dimensions and the impact on the British economy. Globalisation as a concept is not particularly new but it has a historical background which predates 1870 and can be traced even further to earlier periods. Contemporary globalisation is more advanced with the growth of technology and governing institutions such as the IMF, World Bank and the European Union. There is a more prevalent interconnectedness of world economies, which has its positive and negative drawbacks. However, Allen and Thomas (2000) states that ‘globalisation involves much more than simply interconnectedness or a shrinking world, for it...
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...The origins of capitalism can be traced back to the man who is considered its founding father, Adam Smith. In 1776, Smith published The Wealth of Nations, a magnum opus that described the philosopher’s views on topics such as the division of labor and productivity, and how each played a role in the implementation of laissez-faire economics. Smith believed that the adoption of this type of system would create an ideal society through supply and demand enterprise. Karl Marx once prophesized that a working-class revolution was inevitable due to effects of capitalism and free-markets. Drawing his ideologies from his observations during the Industrial Revolution, Marx realized that social inequality existed between the proletariat and the bourgeoisie....
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...United Arab Emirates and Economics Institution United Arab Emirates and Economics Introduction The United Arab Emirates is a capitalist country which gives the private investors an opportunity to manage, and maintain commercial and industrial sectors in order to ensure growth and development. The economy has one of the highest Gross Domestic Product (GDP) per capita worldwide. Thus, this allows many people from different parts of the world entering and investing in the economy and also gives them the opportunity to leave whenever they feel like without engaging in various formalities. The country can also be viewed as one that has a liberal market philosophy and which comprises small amounts of corruption in most of the public sectors. Capitalism refers to a system of raising, spending and conserving a given set of monetary value in a given market. Under this economic system, there are three key markets that are the money or financial market, the labor market and the product market. Labor providers are paid wages and salaries depending on the nature of employment. They make products that are sold by the firms, companies and corporations to the consumers. Money market is involved in both the supply and demand for money. Money supply is mostly undertaken by the central banks of various countries while demand is determined by the speculative transaction and precautionary motives respectively. The money market operates...
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...Parsons found three similarities between society and an organism. System organisms such as the human body and society are both self-regulating and inter-related, independent parts fit together in fixed ways. In the body these are organs; in society they are institutions, such as family and education. Both organisms have system needs for example an organism needs nutrition without which it would die. Social systems have basic needs for example members of society need to be socialized. Both society and organisms function to contribute to meeting the systems needs and thus ensure survival. For example the circulatory systems delivers oxygen to cells, similarly the economy in society helps meet the needs for food and shelter. Parsons argues the central question sociology tries to answer is how is social order possible? Parsons argues social order is achieved through the existence of a shared value system. A culture is a set of norms, values, beliefs and goals shared by members of society. It provides a framework enabling individuals to cooperate by laying down rules about how to behave and what others expect of them, defining goals they should pursue and so on. Social order is only possible so long as members of society agree on these norms and values. This agreement is called value consensus. Value consensus is the glue that holds society together. The basic function of value consensus is to make social order possible. It does this by integrating individuals into the social system so...
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...to be investigated is the role of corporation in society and its ethical influence on social responsibility. There have been arguments that capitalism and corporations are responsible for economic ills of the society. It is therefore necessary to understand the role of corporation and ethical influence if any. In other to address the problem stated above it is necessary to define what capitalism and corporation are, and give background insight through meaningful literature reviews. According to dictionary.com capitalism is an economic system in which investments, ownership and means of production, distribution, and exchange of wealth is driven and maintained mainly by private individuals or corporations, in contrast to cooperatively or state-owned means of wealth. A corporation on the other hand is a business organization created by its owners known as stockholders under authority of the law to exist continuously independent of its members; powers and liabilities (limited liability) separated from those of its members.(American Heritage Dictionary). The answer to the problem stated above may be embedded in the "not a cold mete or fallen from the sky" statement of Dr. Novak (Jennings, 2012, p.108). Role of Corporation In Society The problem to be investigated is the role of corporation in society and its ethical influence on social responsibility. There have been arguments that capitalism and corporations are responsible for economic ills of the society It is therefore necessary...
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...farming practices, but according to Worster, the Dust Bowl was a consequence of capitalistic and expansionary thinking and the culture it produced. The book Dust Bowl: The Southern Plains in the 1930s, by Donald Worster, provides an in-depth, yet understandable, view of the origins, actions, and effects of the Dust Bowl. And, as it is very valuable as a secondary source, Worster provides an important look at the economic and ecological disaster known as the Dust Bowl,...
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...Left Realism Theory Left Realism is part of Social Conflict Theory; The Critical Criminologist examines in a critical way how the conservative agenda of lowering labor costs through Union busting and welfare limitations and tax cuts that favored the wealthy, ending affirmative action, and reducing environmental control and regulations, how these actions effect the common person. Using Left Realism Theory the Critical Criminologist believes they have an obligation and responsibility for informing the public about the dangers of these developments. (Criminology (9th ed.), by L. J. Siegel, 2006, p.263, 264) Left Realism Theory Roots There are three roots of left realism the first is social and political unrest, and Karl Marx the Marxist theory it’s not necessary to have a particular amount of wealth or prestige to be a member of the capitalist class; it is more import to have power to exploit others economically, legally, and socially and the political and economic philosophy of the dominant class and they influences all aspects of life. The second root is exploitation of the working class Willem Bonger built his theory on top of Marx’s theory and he concludes that all crime will disappear if society progresses from a competitive capitalism to a monopoly system the redistribution of property according to each person needs would be the demise of crime. The third root is race, class, and gender discrimination was built on by Ronald Weitzer and Steven Tuch they examined the justice...
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...Dustin Jones There were many social theorists from the period of the late seventeenth and eighteenth centuries. This period of time is regarded as the period of the Enlightenment. A few of the major figures of this particular “movement” were Rene Descartes, Jean-Jacques Rousseau, and Immanuel Kant. They altered the way in which the social world was viewed and helped pave the way for other classical social theorists to explain the individual’s role in society. Karl Marx, Alexis de Tocqueville, Henri De Saint-Simon, and Emile Durkheim are only the names of a few classical social theorists who set out to explore the role of an individual within society. These men believed that Reason, along with the application of a scientific approach, would be able to positively change the world and break through to a new form of power and authority. Although the ideas and theories of these men give rise to far greater advancement in sociological theory, there is a failure in intuition, and thus, a failure of the classical sociological element. The first section of this paper includes an explanation of classical sociology along with an overview of the theories associated with some of the greatest sociologists of this time. The next section of this paper explores reasons and explanations for the failure of classical social theory and interpretations to why before-mentioned theories were compromised. The final section of this paper summarizes some of the conclusions drawn about the...
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...Paradigm Development has three spheres: the social, the economic and the political sphere. Although capitalism can be classified as a part of the economic sphere, modernization can affect all three. Social, in a sense that the people’s belief change overtime as their surroundings also transforms; political, where new policies are made in accordance to problems due to growing population and; economic, where industrialization is evident. Modernization is a term and approach that came into widespread use in the early 1960s, as a consequence of the efforts by a group of development specialists in the United States to develop an alternative to the Marxist account of social development. Modernization implies that the purpose of the development is the transformation of the traditional agrarian culture into industrial society where everything is a commodity. At the same time, modernization theory looks at the positive benefits of nations modernizing. New technologies often bring with them advancements in medical care, food production, education, and disaster protection. While modern communications can lead to a homogeneous culture, it can also help spread social ideals of greater liberty and freedom. Societies that modernize tend to move towards more free and open systems of government, greater equality between genders, religions, and races, and more invested populaces. While it has alarming consequences, we cannot deny the fact that this has been the way of life capitalism has evolved into...
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...The West’s Affect on the World Every nation is always in contention with one another. For every civilization that triumphs, others must suffer. For a majority of human history the strongest nations were comprised into a group known as the West. The west is home to the ideologies of democracy, capitalism, and consumerism. The idea of democracy has been forced upon many nations in the world by the Western states. Democracy however has been shown to be a very easily manipulated system. Capitalism has shown the need for expansion and exploitation over Africa, Asia, and Latin America. The west has always been in contention with other nations, along with contending with each other. Competition between western nations has led to a technological race and an arms race, which is now more apparent than ever in the United States. With military might came the need to take over other nations and thus the ideas of imperialism, and nation aristocracy. Africa, Latin America, and Asia has suffered and continues to suffer a great deal because of the triumph of the west through exploitation, expansion, and wealth, all major goals of capitalism and imperialism. The West has retarded the development in all facets for many countries in Africa, Latin America, and Asia and thus led to the suffering of the world. One of the oldest ideologies from the west to the world is democracy. Democracy comes from the Greek words “demo” meaning people and “kratia” meaning rule, therefore rule of...
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...origination of the social system Capitalism, there are new ruthless forms of exploitation that has resulted in millions suffering. In a capitalistic society such as Canada, exploitation in the workplace occurs daily. Exploitation can be defined as the utilization of another person for selfish purposes (William Morris, 2000). Since the rise of the social structure Capitalism, there has been a distinctive split between two classes of people – the bourgeoisie and proletarian (Karl Marx, 1848). To some, capitalism is the ‘end-all be-all ‘ social system, but these people are more than likely one of the fortunate few who have benefitted from it. By the fortunate few I mean the bourgeoisie class - the owners of the means of production. They own the capital and the resources (factories, farms, stores) to grow their wealth further, but they need labor to do so. Then there is the proletariat class - the labor. I reference them as the labor because in order to feed their families, they need money, and they have no means to make money other then to sell their labor. It is between these two classes that exploitation occurs. The bourgeoisies offer the lowest wages that the proletariats are willing accept, that way the bourgeoisie consume all the available profit for themselves. This exploitation is prevalent in the Canadian workplace. In this essay, I will investigate how the Canadian capitalistic structure exploits its workers today. The reality of this structure capitalism is there will always...
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...international activities and domestic activities. The traditional boundaries of international and domestic business are deliberated blurring, because most of the previously national markets are globalized now. Mention to the current situation about International Business, it is essential to understand what and how International Business is emerged. The variables of why International Business happened have been defined by scholars, first of all, Dunning (2001) believes competitive advantages are quite important to help corporations extend their business. Second, Johnson & Tuner (2003) indicates five drivers of International Business, that are Economy, International governance and regulation, Finance and capital, Communication technology, Social and cultural convergence, etc. Additionally, Huang (2005) and Ashar (2009) argued the improvement of containerization is a support power that accelerates the goods transportation. Furthermore, Paul (2001) points out that not only the former ways, but also competitiveness is an important way in the International Business Variables. Base on the above, through these scholars’ endeavours, the main variables which account for the emergence of International...
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...Does the capitalist free enterprise system improve justice in society? In what way does it do so? In what ways does it not? Explain and defend your overall conclusion? “Capitalism can be defined ideally as an economic system in which the major portion of production and distribution is in private hands, operating under what is termed a profit or market system (Shaw, Barry, & Sansbury, 2009, p.127).” Over the many centuries, capitalism has evolved from the emergence of capitalism during fifteenth and sixteenth centuries, mercantile capitalism, financial capitalism with the increased industrialisation and the intensified competition, to today’s globalised capitalism. Although, the names used to describe capitalism have been changed over the time, the dynamic nature of laissez-faire (to let people do as they choose) (Shaw et al., pp.131) in capitalism has never been changed. We have to admit that the free enterprise system has created the greatest productive power in all of our history and become the most influential socioeconomic system in the world. It is important that we understand the characters of the capitalist free enterprise system and how does this system work for our economy and society. Therefore, we are able to judge whether the capitalist free enterprise system improves justice in our society based on the moral principles. In the following paragraphs, it lists out important features within the capitalist free enterprise system and analyzes its strengths and...
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