Globalisation globalisation during this investigation and I will also

Globalisation is the communication between businesses
internationally to make trades or exchanges. It greatly improves businesses
ability to save money as they may communicate with a business’s abroad, and buy
materials for cheaper out of their country. However, globalisation brings lots
of positives, but it can be argued that it can do a lot of harm to workers, and
local communities helping multinational corporations achieve their goals. There
are three perspectives of globalisation and these include a neoclassical,
institutionalist and socialist view point. I will cover all parts of globalisation
during this investigation and I will also look into whether globalisation is
more beneficial or not for the world.

This is a definition of globalisation
produced by the Economist, who are a renowned English newspaper company who
produce businesses and politics related news stories. “Globalisation is the
more or less simultaneous marketing and sale of identical goods and services
around the world. So widespread has the phenomenon become over the past two
decades that no one is surprised any more to find Coca-Cola in rural Vietnam,
Accenture in Tashkent and Nike shoes in Nigeria.”1(The
Economist – online.) My next definition of globalisation is from
a financial times website who cover similar stories and topics like the
Economist, but they are much smaller sized business. “Globalisation describes a
process by which national and regional economies, societies, and cultures have
become integrated through the global network of trade, communication,
immigration and transportation.”2 (Lexicon
financial times – online) Finally my last definition of globalisation is by
David Held. He said that “globalisation can be thought of as a process which
embodies a transformation of the spatial organisation of social relations and
transactions.” David Held produced this definition in 1999, and it is now
featured on the united nations educational, scientific and cultural
organization information page on globalisation. 3

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Neoclassical perspective looks at the
rejection of the Marxian notion of exploitation and the promotion of the idea
that the distribution of social resources produced by market exchanges is
innately fair. Economists use the neoclassical paradigm for analysing how the
economy works and understanding how it works according to the world. According
to the paradigm, workers, consumers and organisations make calculated decisions
that are in their best interests. Neoclassicism is a basic principle, like
matters of supply and demand, output and growth. Economics covers all areas of
life, and it would be hard to find an aspect of life where economics does not
cover. Globalisation in recent years has caused a huge global financial crash,
and this has highlighted a range of issues like the fact economic forecasting
has been proven to be ineffective at predicting current crisis’s. Globalisation
has caused widespread unemployment throughout western countries and gradually entering
inequalities into the third world. There is a clear trend from resources that
the neoclassical theory has not worked well when tested against the data, and
this means that businesses should be careful when using it for trading and
distributional concerns.


Institutionalist perspective theory is much
deeper and more resilient at social aspects of social structure. It considers
the structures, including schemes, rules, norms and routines become established
as authoritative guidelines for social behaviour. 4
(Institutional theory on globalisation – Wikipedia – William Richard Scott) Structuralism
has been a leading perspective in researching globalization. The perspective
states that people take globalization for granted and is seen as something that
has always been available for everyone. A systematic perspective is widely
known for its view to reflect the features of reality that are controllable.
More extreme cases of structuralism have no uncertainty, and the determinism is
made by social institutions.    

Socialism is an economic system where
everyone in the society equally owns the factors of product. The ownership is
usually through a democratically elected government. The main four factors of
production are labour, entrepreneurship, capital goods and natural resources. 5
Globalisation only produces capital easier, and it only makes money, machines,
and factories get the best return for a country. Globalisation from a socialist
perspective can be seen as a form of imperialism as it is just another way of a
countries power and influence through colonization. Countries like the United
states of America, use foreign factories for cheaper labour, but workers are
forced to work in extreme conditions which often leads to suicides. An example
of this would-be apple factories in China, where workers are paid £1.12 per
hour to produce iPhones and iPad’s for western countries. One of the ‘sweat
shops’ in Shenzhen has had over 18 people kill themselves, and as a result
suicide nets have been installed to factories to prevent workers killing
themselves. Many believe that western countries have economic and political
control over other nations, and they are not globalising the world for the
culture of poorer countries, but rather for the exploitation of other nations
resources for the benefit of western countries. This may be an extreme
viewpoint to directly put globalisation and imperialism in the same basket, as
globalization refers to the interaction economically, politically between
different nations, organisations, citizens, and governments. On the other hand,
it is believed that Imperialism refers to a nation which occupies multiple
foreign nations and regions, like Japan during World War 2. I think that
globalisation is just expansion of things like business on a global scale. The
global economy has become globalised, but due to this there has been an
increase in exploitation of workers as more poorer communities are being
reached by globalisation and this has meant they have been forced to adapt to
the global change and work under multinational corporation’s work regulations
which may not be the best conditions as countries like China have far more
different health and safety regulations to a country like the United kingdom.


July 20th 2009 – Online extract – The Economist

Lexicon financial times

David Held – September 2000 – International social science


– the balance by Kimberly Amadeo – November 30th, 2017 


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