The Importance Of Capitalism And Globalization

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Globalization
Globalization refers to a process that involves integration and interaction among individuals, companies as well as government of various countries. It is bolstered by international trade, investments as well as modern technology. Globalization, through internet, has revolutionized business in various ways. Companies in foreign nations can compete for clients in other regions of the world due to globalization. Notably, the importance of globalization has mainly been cherished in the business world forgetting about its impacts on social lives of individuals. In the past, there have been debates regarding the role of globalization various cultural practices across the world. Globalization has been termed in many occasions as the …show more content…

Capitalism refers to an economic system whereby few individuals own as well as control few assets in a given region. Capitalism is mainly oriented on few individuals accumulating wealth in terms of profits and investments and consequently controlling the economics of a nation. It is mostly oppressive social wise. Understanding how globalization encourages capitalism will be necessary. Capitalism is not a common culture in many regions of the world. Capitalism does not allow other people to stack wealth compared to others. Analysis on the manner in which globalization encourages capitalism as well as how this result in end of communal or collective efforts to improve economic wellbeing of everyone in a society. Some of the examples that will be useful in illustrating the idea of capitalism in relation to globalization will include comparing the type of economy of the Western world to that of other regions. Capitalism is a common type of economy in areas where dictatorial governance is common. It is also present in democratic countries where few individuals own companies whereas the larger population consists of individuals doing jobs that cannot even make them meet their daily expenses effectively. Quotes from individual authors will be useful in this part. Quotes based on capitalism will be important in offering more understanding of the topic in relation to globalization. Quotes of businesspersons on monopoly and capitalism will be crucial in offering analyses

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