Globalization
Globalization
The Elusive Concept of Globalisation
This activity will enable you to:
- Understand the process of globalization and its consequences for societies, cultures, groups, and individuals.
Before participating in the discussion, please read the following:
- Lechnar and Boli (Eds), (2012) The Globalization Reader (4th ed.):
- Chapter 3: The Elusive Concept of Globalisation
- Chapter 4: Jihad vs. McWorld
- Chapter 5: The Clash of Civilations
- Watch the following movie:
Answer the following discussion questions:
- Do you agree that capitalism is primarily concerned with profit making and not world welfare?
- Analyze the profit motive, and give two to three examples of the actions resulting from it. Explain how these actions affect welfare, positively or negatively.
Answer Preview………………..
Do you agree that capitalism is primarily concerned with profit making and not world welfare? I agree with the view that the primary objective of capitalism is making profit rather than enhancing people’s welfare. The outlook is driven by the major components of this economic system, which is exploiting the workers. The viewpoint is supported by the fact that all means of production are controlled by capitalists whereas the laborers control labor only. Consequently, the workers are coerced into accepting any wages as they do not have other options. At the same time, capitalism ensures capitalists control the prices of commodities and services in the market. Accordingly, they ensure that they sell their manufactured goods above the standard prices to increase their profit margins. Therefore, the major objective of the capitalist system is to give all economic powers to capitalists, thereby allowing them to develop economical policies, which allow them to maximize their profits………………
APA 398 words