How Global Capitalism Works

Global capitalism is the fourth and current epoch of capitalism. What distinguishes it from earlier epochs of mercantile capitalism, classical capitalism, and national-corporate capitalism is that the system, which was previously administered by and within nations, now transcends nations, and thus is transnational, or global, in scope. In its global form, all aspects of the system, including production, accumulation, class relations, and governance, have been disembedded from the nation and reorganized in a globally integrated way that increases the freedom and flexibility with which corporations and financial institutions operate. In his book Latin America and Global Capitalism, sociologist William I. Robinson explains that today’s global capitalist economy is the result of â€Å"...worldwide market liberalization and the construction of a new legal and regulatory superstructure for the global economy... and the internal restructuring and global integration of each national economy. The combination of the two is intended to create a ‘liberal world order,’ an open global economy, and a global policy regime that breaks down all national barriers to the free movement of transnational capital between borders and the free operation of capital within borders in the search for new productive outlets for excess accumulated capital.† Characteristics of Global Capitalism The process of  globalizing the economy began in the mid-twentieth century. Today, global capitalism is defined by the following five characteristics. The production of goods is global in nature.  Corporations can now disperse the production process around the world, so that components of products may be produced in a variety of places, final assembly done in another, none of which may be the country in which the business is incorporated. In fact, global corporations, like Apple, Walmart, and Nike, for example, act as mega-buyers of goods from globally dispersed suppliers, instead of as producers of goods.The relationship between capital and labor is global in scope, highly flexible, and thus very different from epochs past. Because corporations are no longer limited to producing within their home countries, they now, whether directly or indirectly through contractors, employ people around the world in all aspects of production and distribution. In this context, labor is flexible in that a corporation can draw from an entire globe’s worth of workers, and can relocate production to areas where labor is cheaper or more highl y skilled, should it wish to.The financial system and circuits of accumulation operate on a global level. Wealth held and traded by corporations and individuals is scattered around the world in a variety of places, which has made taxing wealth very difficult. Individuals and corporations from all over the world now invest in businesses, financial instruments like stocks or mortgages, and real estate, among other things, wherever they please, giving them great influence in communities far and wide.There is now a transnational class of capitalists (owners of the means of production and high level financiers and investors) whose shared interests shape the policies and practices of global production, trade, and finance. Relations of power are now global in scope, and while it is still relevant and important to consider how relations of power exist and effect social life within nations and local communities, it is deeply important to understand how power operates on a global scale,  an d how it filters down through national, state, and local governments to impact the everyday lives of people all over the world.The policies of global production, trade, and finance are created and administered by a variety of institutions that, together, compose a transnational state. The epoch of global capitalism has ushered in a new global system of governance and authority that impacts what happens within nations and communities around the world. The core institutions of the transnational state are the United Nations, the  World Trade Organization, the Group of 20, the World Economic Forum, the International Monetary Fund, and the World Bank. Together, these organizations make and enforce the rules of global capitalism. They set an agenda for global production and trade that nations are expected to fall in line with if they want to participate in the system. Because it has freed corporations from national constraints in highly developed nations  like labor laws, environmental regulations, corporate taxes on accumulated wealth, and import and export tariffs, this new phase of capitalism has fostered unprecedented levels of wealth accumulation and has expanded the power and influence that corporations hold in society. Corporate and financial executives, as members of the transnational capitalist class, now influence policy decisions that filter down to all the world’s nations and local communities.

C209 - 2527 Words

------------------------------------------------- Task 2: Theories of Leadership Assessment Code: C200 Student Name: Robert Merrifield Student ID: Date: 4/15/2016 Student Mentor Name: Carol Kamen-Kannel Table of Contents Reflection on Seven Habits Profile 3 Personal Leadership Strengths 4 Personal Leadership Weaknesses 5 Recommendation for Personal Leadership 6 S.M.A.R.T Goals 6 Specific Actions 7 References 8 Reflection on Seven Habits Profile – A After completing the Seven Habits profile, I reviewed my results from the completed profile form. The profile was pretty true to form in how I look at life whether it be, business, or life goals and my end vision for how I would like things to turn out. I scored rather highly in all†¦show more content†¦Its about developing the habit of listening carefully and really understanding the other person BEFORE giving your thoughts†. Stephen Covey (1989) My second lowest habit score was, â€Å"Think win-win†, which also makes since as this habit that focuses on finding solutions that benefit not just yourself, but makes a solution for you and others. In life we are taught a win or lose situation is always it, but as in capitalism, that also gets a bad rap, but is similar in this habit as it focus on not just taking your slice of the pie, but rather growing the pie for everyone, which is a win/win for all. In looking at my seven habits profile I would consider myself a Transactional Leader and would scribe to the Transactional Leadership theory. I thrive on structure in an organization and in my life. As a Manager and competitive runner who is always planning to a set plan or program, I thrive on structure and perform well when a program has a well defined â€Å"rewards-penalty system†, and with groups who know their jobs well. According to Pamela Spahr, â€Å"A transactional leader is someone who values order and structure. They are likely to command military operations, manage large corporations, or lead international projects that require rules and regulations to complete objectives on time or move people and supplies in an organized way. Transactional leaders are not a good fit forShow MoreRelatedBolingbrook High School Staff Directory 2014 20153189 Words   |  13 Pages3493 Room Email Address adlingtonma@vvsd.org B144 B101 D200 E124 agustssonvs@vvsd.org albanomm@vvsd.org Albrightda@vvsd.org allenjs@vvsd.org allenmr@vvsd.org D238 A204A Cafà © D311 C106 D311 B111 alonsom@vvsd.org C118 C100 C209 D201 A119C D237 G107 E126 C102 D311 B144 C209 G107 D222B Cafe E126 D238 D301 C122 E126 C122 B211 B246 D238 C122 Cafà © B201 E126 C208A C208A babiczpm@vvsd.org altenburgrp@vvsd.org antoniosc@vvsd.org araizac@vvsd.org armisteada@vvsd.org arochop@vvsd.org baincr@vvsd.org balichht@vvsdRead MoreFm11 Ch 11 Mini Case2240 Words   |  9 Pagesdiscuss the results. Here we use an Excel Data Table to find NPV different unit sales, holding other thing constant. For example, after inputting the values for WACC in cells B205:B209 and the formula =C105 for NPV in cell C204, select the range B204:C209. Then choose from the menu Data, Table, and enter D31 (which is the input for WACC) as the Column input. This produces the sensitivity analysis for WACC as shown below. We summarize the data tables, arranged by sensitivity, and graphed the most sensitiveRead MoreEssay about J.P. Morgan Chase4778 Words   |  20 PagesPreziosi, and Damon Swaner. J.P. Morgan Chase Co.: The Credit Card Segment of the Financial Service Industry. Strategic Management, an Integrated Approach. Hill, Charles W.L., and Gareth R. Jones. Boston, Ma: Houghton Mifflin, 2004. C209-210. Dologite, Dorothy G., Marc E. Gartenfeld, Steven Preziosi, and Damon Swaner. J.P. Morgan Chase Co.: The Credit Card Segment of the Financial Service Industry. Strategic Management, an Integrated Approach. Hill, Charles W.L., and

The day I went to the Department of Motor Vehicles Free Essays

When I decided to go to the United States, my friends were really envious of me. They called the United States ‘Dream Land’, and so did I. Yes, I came here to make my dreams come true. We will write a custom essay sample on The day I went to the Department of Motor Vehicles or any similar topic only for you Order Now I was so excited. When I boarded the airplane, my heart was beating faster and faster. And when I got off in the San Francisco International Airport, everything looked different from my country. Everything was beautiful. I admired the buildings, the people, I even thought that the sky here was so beautiful that home could not compare. Back home I hated it when it rains but here I thought of rainy days as romantic. The wind here was as cool as strawberry ice cream. I just loved everything in this ‘Dream Land’.   This was paradise to me, where I thought everyone is an angel. Little did I know that this illusion would soon be over, and this is the story of how my ‘Dream Land’ crumbled before my very eyes. Everything started when I decided I needed a car. Back home, I never felt the inconvenience of not having a car. I could go almost everywhere by foot and if I had to go somewhere far the bus can be relied on. However, ‘Dream land’ is huge; I could not go to market without a car. Everything was far from my place and the buses never came on time, so I spend hours on the road to get to where I need to go. That’s why I decided to buy a car. My parents however did not understand my situation. My father thought I envied friends who have cars, but eventually he agreed and said that if I can get a license he will buy me a car. My teacher gave me driver’s hand book to study and wrote a letter for the DMV to explain that I am an international student and that I needed assistance to get my driver’s license. During that time I was as student in the English as a Second Language center at Sac State. My English was not good. I had difficulty expressing myself in English. I could understand what they are saying but I could not give a reply since it was so hard for me to say what I am thinking. That’s why my teacher wanted the DMV officer to read her letter. When I went to DMV, I had to wait an hour and half until my number was called even if I had a reservation. An hour and a half was really a long time to wait, but that was still okay with me. My frustration started right after that. I went to the window which has my number on the screen. There was old white lady. She looked very blunt and never smiled. I said, â€Å"Hi, um,, I   want to take a test for the driver’s license.† But, she did not understand what I said. She repeatedly said â€Å"Excuse me, what? What?† I was losing my confidence. Americans would never understand, how scary it is for a foreigner when they say ‘What?’ in a condescending if not antagonizing way. Any way, when she finally understood me, I showed her my documents, including my   passport, I-20 and the letter that my teacher wrote. The blunt old white lady said to me. ‘No, you can not take a test because you do not have social security number.’ I politely explained to her that I could not understand because international students can not get social security number, and some of my friends took test just a day before, but she said ‘why are you talking about your friends? I do not care about them. The problem is that you do not have social security number.’ I felt that she was annoyed and did not want to listen to my poor English. So, finally I asked her to read the letter. However, she did not read it and said ‘Sac State is not my government.’ I was speechless with amazement, and I could not accept what she said. When I tried to say something, she said ‘why are you still here? If you can not follow American law, go back to your country.’ She was really rude. And the experience was   so frustrating for me. That was the day I realized that this place is not the ‘Dream Land’ I thought it to be. The angel has turned into a scary antagonizing monster, whom I hate. As I walked to the bus stop I could not stop my tears from falling and soon I was crying so hard. It was a very painful experience for me. I was so humiliated by the way the rude white lady who does not know what is legal. I hated her. I hated myself for not being able to express my thoughts in English. And I hated this ‘Dream land’ where they do not give social security number to international students, and want to us pay ten times expensive tuition fee than that paid by their citizens. That was the day I understood what racism means. I am an Asian who could not speak English well, so the white lady did not listen to me. I thought to myself, this not ‘Dream land’ after all, the old lady at the DMV made me realize just that and she did it in a really painful manner. I went to the mall to meet my friend and tell this story because if I did not tell this story that day, I think I would have died.   We sat at the food court, and spoke in Korean. I felt so relieved that I could speak in my mother tongue and be understood by my friend. Suddenly, an old white man came to us. He asked us, ‘What language are you guys talking with?’ We said, ‘Korean’. We thought he was interested in listening to another language. However, it was another illusion. He explained that we have to speak only in English in the ‘Dream land.’ We were so offended by what he said but what offended us more and made us very angry were his last words to us. He said ‘Go to the restroom and wash your mouths.’ I could not believe he was insulting us because we did not speak in English. From that day, ‘Dream land’ is not dream land to me any more. And I realize how wrong I was to think that this is ‘Dream Land†. There is no dream land and no angels. It was really a sad experience for me to be treated unfairly because of my race and poor English. From then on, I studied English very hard until I could speak very well. Nowadays, when I see people who can not speak English well at the mall or on the road, I try my best to help them and I am always careful not to say anything that would ruin their confidence because I do not want to break their dreams like the old white lady did to me. If they still think this is ‘Dream Land’ I do not want to ruin it for them.       How to cite The day I went to the Department of Motor Vehicles, Essay examples