Globalization And The Global System - 1343 Words

Globalization one of the most controversial and widely recognized term, and is biggest threat to liberty in the 21st century. The consolidation of power and wealth into the hands of a few has absolutely no benefit, except of course to the power hungry CEO s of transnational’s looking to suck the life out of every nation they can exploit. Despite the propaganda from the global elite it s done nothing but destroy the middle class in United States and any other industrialized nation. It will eliminate more cultures and enslave more people than even the most ambitious tyrant from history. Globalization is uneven and incomplete because the pace of globalization varies over time, and not all societies are fully integrated into the global†¦show more content†¦It is clear that the unchecked growth of financial capitalism is not the only outcome of today’s crisis and that regulations are necessary at all levels to meet the challenges of globalization. Increasing internationalization of the three circuits of capital is driving globalization: International trade (the global marketplace), international finance (the global casino) and international production (the global assembly-line), and the concomitant, increasing international concentration and centralization of capital. This characteristic of contemporary globalization, which distinguishes it from previous periods of international economic integration, has been a major contributor to the break-up of the institutional pillars of the postwar productive order, and is propelling further globalization. More than one billion people live in extreme poverty, which is defined by the World Bank as subsisting on less than one dollar a day. In 2001, fully half of the developing world lived on less than two dollars a day. Yet poverty rates are much lower today than twenty years ago. In the last two decades, the percentage of the developing world living in extreme poverty has been cut in half. While poverty rates were falling, developing countries became increasingly integrated into the world trading system. Poor countries have slashed protective tariff s and increased their participation in world trade. If we use the share of exports in gross domestic