Capitalism: The Propelling Force of Globalization

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Capitalism is the engine driving globalization. Therefore, the development of capitalism — from the age of mercantilism to today’s neoliberalism — is reflected in the way globalization has unfolded. Since the rise of mercantile capitalism in the 1500’s, the desire for profit has intensified the spread of people, commodities, ideas, images, culture, and capital across the globe. This process of global integration has brought (often by force) non-capitalist economies under the all powerful system of world capitalism that guides our lives today (Robbins 68). The evolutionary path of globalization has been punctuated by periods of change in capitalism facilitated by the adaptive radiation of profit seeking technological advancement in transportation, …show more content…

Neoliberalism was popularized by the Ragin administration and proliferated today by institutions such as the International Monetary Fund, World Bank, World Trade Organization, and Free Trade Zones (NAFTA). Neoliberalism holds that sustained economic growth is the path to human progress, markets should be free of government regulation, international trade barriers (such as tariffs) should be removed, privatization should be encouraged, and governments should prioritize infrastructural improvements that benefit commerce and enforce laws that protect private property rights (Robbins …show more content…

This transfer of power from the localized State, to deterritorialized TNCs revels that, today, international corporations rule the world -- perhaps this represents the ultimate stage of capitalist globalization. From the colonization of the global south to the rise of TNCs, capitalism has driven globalization and defined today’s world. The effects of capitalist globalization are imbedded in our daily interactions in ways beyond counting; everything from texting to inequality are products of globalization. As the finite natural resources – water, air, oceans, and hydrocarbons -- that have fueled the engine of capitalism deplete, it will be fascinating (and possibly terrifying) to witness the impact of capitalism slowing down on our globalized

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