Globalization Is Not Being Exploited By Capitalists Essay

At one time, Joan Robinson, a British economist had said, â€Å"’There is only one thing that is worse than being exploited by capitalists. And that is not being exploited by capitalists’† (Nayyar 2006, 4). The process of globalization has changed the ways of human interaction and the flow of goods and services, people, information and ideas creating an interconnected single community that is continuously uniting many nations across borders. The emergence of easier accessibility to consumers’ needs has skyrocketed the production and consumption of goods and services. With a greater demand comes greater production and the twenty-first century capitalist economies have changed patterns of free trade, rely on commodities and resources to be able to make profit and be integrated into the open-market, benefitting from further economic growth. This change in trade patterns amongst different markets are based on product specialization and the division of labour t o create employment opportunities, income and surplus benefits are extended to other parts of the globe. These patterns of trade encourage greater competition between markets and low cost goods and services for consumers (Ebeling 2004, 3). However, the process of globalization has created two different worlds of a winner and a loser; the included and the excluded. Comparing these two worlds, one of them consists of industrialized countries that benefit from more prosperity, inclusion, advanced efficient production throughShow MoreRelatedEssay on The Industrial Revolution1326 Words   |  6 PagesFinal Project From the beginning of the Industrial Revolution to the present day, the structure and culture of the American workplace have been affected by many forces, among them capitalism, technology, globalization, and issues of equality. 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