The Globalization of Greed

1067 Words3 Pages

Globalization refers to the expansion of global relations and the integration of different cultures that are interacting in new ways. Through globalization people are able to communicate and exchange information. To corporations it is purely an economic process: “the result of the market system unleashed on a worldwide scale” (“Perspective: The Exigencies of Globalization”). Globalization has made profit the core objective of large corporations, though the consequences of these large scale productions both environmentally and ethically are often overlooked. This essay will investigate the consequences of globalization by examining the power dilemmas between the nation state and intercontinental nations, as well as the corporate drive for profit which has detrimental effects on cultures and the environment.

Globalization’s shift to large scale production has forced companies to move towards localization, or expanding to other nations, and less standardization. Localization allows corporations to monopolize the power over cultures of other nations. In fact according to the World Bank’s World Development Report in 2000, of the world's 100 largest economic entities, 51 are now corporations and 49 are countries (Anderson, Sarah). National governments have lost their grasp on world power. The top corporations now suppress the combined economies of the countries and not to mention control the working conditions of countries they hold much influence over. Allowing these corporations to do as they please, charge what they want, and pay less than expected. After all how else would they be so powerful without excess profit? For example according to one source, 60% of the banana trade is controlled by only 3 companies and the all fami...

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