Globalization as an ingrained culture of capitalism Essay

Globalization as an ingrained culture of capitalism - Essay ExampleThe paper tells that through years globalization has raised doubts in our minds. There has been a constant debate on the pros and cons of globalization. Many have debated this phenomenon is a result of the telecommunication boom leading to turning the world into a global village. With a growing sense of unease among many of us, the current trends in global capitalism and global society are being forever reviewed and reiterated. It has been argued by many theorists that the characteristic aspect of the globalized economy is the market economy. However, some have maintained that it is not so much market economy but capitalism that characterizes todays time. Trying to get a line the rules that guided capitalism in earlier days will help to understand the new miscellany of capitalism, globalization, today. Eighteenth-century definition of capitalism refers to an economic and social regime in which the benefits and ow nership of productive assets were appropriated by the minority to the exclusion of the many. The driving force was money which was used to make more money by any means available to those who already have a great deal. Capitalism has not been touch with the efficient allocation of resources to meet the needs of common man thus resulting in inequality and release mostly. The ideal of capitalism is a borderless global economy in which money and goods can be travel freely in search of short-term maximum profits without regard to the consequence for people, communities, and nature.