Is Globalization a New Stage in the Development of Capitalism - Essay Example

Is Globalization a New Stage in the Development of Capitalism? Globalization has changed the face of the earth for quite a few decades now. The international merger of nations in equal and at times unequal proportions is creating value for the people at large. What this means is the fact that the societal manifestations are working towards provision of benefit for the commoners which are present within them. The role played by each of these agents is significant – since the result is all the more pertinent from the broader scheme of things. Globalization comes in line with the capitalist regimes which are in place. The premise of capitalism banks on the philosophy of holding wealth on the part of the privately owned entities. This is a drastic philosophy – and one that can have lasting effects on the long run contextual meaning of the globalization regimes. Since globalization looks to provide benefits to both the developed nations as well as the comity of nations that can only be remarked as the underdeveloped, what in essence it does is to instigate the capitalist entities in a very aggressive manner. The political ramifications that come attached with such globalization undertakings under the capitalist modules need serious thinking and proper action, before one could deduce the overall success or failure of such regimes in entirety. As a matter of fact, capitalism is generally not a very favored phenomenon within any region of the world. If the globalization regimes are taken as a new stage or a new sub-cultural norm within the capitalist settings, then one can only think of havoc coming in within the respective economic and political undertakings of the state. Politically speaking, globalization aims to bring wealth and prosperity for any country and thus the proponents of globalization generally favor the tide which is coming their way. The publics seem to understand that with the wave of globalization within their folds, success will actually creep in, though in a slow fashion. However one can comprehend that success is indeed significant from the long term scheme of things and if globalization provides the boost within the interaction mechanisms of people with their respective governments, then the latter usually allow the globalization regimes to come in within the countries and flourish to the optimum possible levels (Maitra 1996). This means a win-win scenario for the people as their government understands how to bring prosperity and growth basis within the country. It helps the political groups in winning the electorates and thus sweeps the elections as and when the same take place. However capitalism aims to avoid the prosperity related with globalization for the sake of the third world countries. This is because capitalism does not warrant growth and development for the sake of the entire public. It remains loyal to the privately owned entities and corporations and thus the effect these capitalist regimes have on the society is drastic, so to speak. If the capitalist regimes are kept under a proper check, one can figure out developmental undertakings to take place within any country and this will instill a sense of pride and accomplishment within the people of that country. Overseas trade has been linked with the development of capitalism for a long period of time now. However some proponents of globalization assert the rationale that this trade becomes a major point of advantage amongst the nations and their political undertakings receive a boost nonetheless. The people receive benefits as they are given jobs, different avenues to meet their needs and desires, as well as a general uplift in their self-esteem. The third world nations and their people eventually receive more benefits than anyone else. With the merger of globalization with the capitalist regimes, the horizon has expanded. Some critics state that capitalism can now be seen as a truly global phenomenon, where it is taken in a broader manner now than ever before. Thus the negatives related with capitalism can be reduced with the coming in of globalization. However this might not be true since globalization and capitalism seem to run hand in hand in different nations of the world while seem to miss out on their combined benefits in other parts of the world. Each nation has a different implication and meaning for the relation that is present amongst the globalization and capitalist regimes in essence. Thus capitalism can now be viewed as a truly world system, one that aims to provide wealth to different regions of the world. However the negativities related with capitalism and its different manifestations seem to linger on, despite such deductions. Some of the thinkers argue that globalization is not such a monster yet as the earliest times within the 20th century imperialism where capitalist trade ruled the roost. Global capitalism can be rooted back to the times of the imperialism which was present within the 20th century. In those times, capitalistic principles were encouraged; foreign trade was given the green signal within different nations of the world and an overall feel of goodwill did seem to exist even after imperialism came to an end, eventually. Imperialistic policies were successful in the olden times but considering the economic settings of the present times, the same could not be deemed as feasible now. The reasons include the fact that the political pressures and effects of state coming into the domains of the economy are immense (Jones 2005). What this means is that the political basis will truly represent the voice of the public and thus get its share in one way or the other. The globalization principles could only be seen as being a point of success if the political perspectives are judged from a balanced setting. The economic domains depend a great deal on the political decisions which are thus made. If the political shortcomings come to the fore, there is a great amount of evidence that economic problems might just surface time and time again, within the domains of the country vying to become self-sufficient, not just economically but also in a political sense. Economic growth has been at the center of globalization studies. The reason for this is that if the economic conditions are not stable and seem to have diverse shortcomings, ranging from national issues to global problems, there would be little sense in having globalization measures for the betterment of both the developed nations as well as the underdeveloped countries. Thus what is needed is the fact that economic policies are aligned in a manner which will instill investment on the part of the major players which throng the markets. They will bring in money and thus invest within the different reigns of the country’s fiscal zones. They will put their trust within the political decision-making processes of the government and thus give the much needed authority of the state towards its eventual decisions. The economic and political ramifications would come out in an apparent fashion if the international relations of such countries are seen as being strong, both in the short term as well as in the long run scheme of things. This will make growth and development synonymous with investment drives and confidence building measures of the investors and stakeholders. It will pave in success and thus bolster the global economic domains. The local political scenario, though being significant right from the onset of things, remains at the receiving end of these economic steps which are taken time and again. Growth and development would thus be ensured when the political scenario has stability within its reigns and when investors have the confidence to let their money remain within the country’s midst even when minor shockwaves do arise on and off. The global capitalist economy within the globalization ranks has hit the jackpot for the companies which are conducting businesses related with cell phones, the Internet, fax machines and so on. The reason for the same is that globalization has asked of these companies to conduct work from anywhere – and that too at a very minimal cost. Now work can be done from just about any place in the world and transactions can occur in real time. This has made the global capitalist society come under the direct auspices of the globalization regimes. Thus what was thought of as a manifestation of the capitalistic ranks is now something which comes directly from the basis of globalization indeed. The technological world has made capitalism seem like a long gone phenomenon. However this might not be entirely the case yet. The globalization avenues have asked of the global companies to exhibit their capitalistic selves in a very broad way yet the tilt has remained local more than anything else. This ‘globally local’ phenomenon has facilitated the globalization regimes in essence and has somehow or the other taken care of the capitalism myth which has haunted the people for a number of decades now. The notion of free market capitalism is thus a direct basis of the growth and development that has taken place ever since globalization has entered into the lives of the common men and women on the street. The role of technology within such domains is mind-boggling to state as a matter of fact. A number of theorists and policymakers have advocated for the capitalistic regimes that are in place. They suggest that capitalism has helped shape up the standard of living of the people. Thus what globalization has done is to boost the exact manner under which this capitalism has been made accessible and free-flowing for the sake of the general public. There is little doubt in their assertions that have openly advocated for the ever-increasing GDP levels, the capacity utilization measures and the overall manner of increasing standards within the living spheres (Dunning 2003). The role of politics cannot be denied its due right since the decision-makers seems to understand the economic upheavals and the recessionary times, from a very local perspective. Milton Friedman has suggested that the economic prosperity within the competitive capitalism regimes can only become successful when political freedom is given its due place within the midst of a nation’s significant policies. His view is based on the premise that centralized control related with the economic settings and undertakings is usually brought together with a political repression on hand. His view was openly supported by Friedrich Hayek and John Keynes – the two proponents of capitalism, since they thought that capitalism will act as a vital agent in the freedom to survive on the part of the people. The support for political freedom is also granted by a number of different researchers and theorists from time to time. On the flip side of the coin, capitalism has met with serious criticism as well. The critics include socialists like Karl Marx, Mao Zedong, Fidel Castro, and anarchists that include Benjamin Tucker, Noam Chomsky and Rudolf Rocker to name a few. In the end, one can comprehend the exact manner in which globalization has made a difference towards the global capitalist societies by linking the two phenomena alongside one another. The perspectives of capitalism on economic and political settings are fundamental towards the working mechanisms of the country. The decision-makers have a very important task at hand in order to put action where it is deemed as necessary. Perhaps the political spheres could be given the luxury to take decisions which will boost the economic domains of the country in an exponential manner. However this can only come about when the global movements of uplift and recession are understood within the proper contexts. No state can exist and work in isolation. It needs to co-relate with other nations in order to be sound and on its feet all the time. A proactive vision on the part of a particular country would mean growth and development in the long run as the political and economic ramifications do seem to come out when there are dire efforts incorporated to reap success in the end. All said and done, globalization is indeed a new stage within the discussions of capitalism in the time and age of today. Bibliography DUNNING, John. (2003). Making Globalization Good: The Moral Challenges of Global Capitalism. Oxford University Press JONES, Geoffrey. (2005). Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century. Oxford University Press MAITRA, Priyatosh. (1996). The Globalization of Capitalism in Third World Countries. Praeger Publishers, London Word Count: 2,014 Read More