The Trend of Democracy, Capitalism, and Globalization

625 Words2 Pages
bulb-icon

Recommended: Compare and contrast capitalist democracy and socialist democracy

Our generation is experiencing an extraordinary historical phenomenon; it is reshaping culture, welfare, and prosperity at a global magnitude. The tyrannizing bounds of social contract, which have restrained us from freely trading and interacting, from acting as human beings in their state of nature, are now being torn off successively, and, most importantly, the change is being spearheaded at the government echelon. One after another, the countries that make up the world's financial system are making the shift to a market-based economy. The fairly revolutionary trend of democracy, capitalism, and globalization, has been gaining momentum and storming the earth continent at a time; it will continue to do so in the foreseeable forecast.

People of all tongues are coming to the realization that prosperity is a mutually dependent element, to reach it, we must plug in to the livewire of global trade and awareness. The barriers to entry are moderately low, the rewards are often abundant, immediately felt, and forerunners are vast. Thailand, China, and Poland are just three countries that have flirted with concepts of privatization and foreign trade; the rewarding effects were proven to be generous and relatively instant, as we shall now demonstrate.

Until about 1985 Thailand's economy was virtually closed to direct foreign investment. The only outside assistance that the country has benefited from was received at the government level. Outside aid flo...

Show More
Related

  • The Three Empires

    952 Words  | 2 Pages

    Bentley, J., & Ziegler, H. (2008). Trade and encounters a global perspective on the past. (4th ed., Vol. 1, pp. 182-401). New York: McGraw-Hill.

    Read More

  • Maquiladoras: Manufacturing Poverty in Mexico

    2612 Words  | 6 Pages

    The trend toward a more globalized market has become increasingly developed in the latter half of the 20th century. Emphasis on world trade has become a dominant figure in almost every Nation’s economy. Between 1970 and 2000 world trade has experienced an increase of almost 370 percent. Concurrently, world GDP increased by 150 percent. Trade is beneficial to Nations because it allows the creation of avenues that aid in efficient allocation of resources (Canas & Coronado). Countries can gain from trade when they specialize according to their comparative advantage. This is, when they create conditions where goods and services can be produced at a lower opportunity cost than in any other country. Along the same logic, countries can also make large profits by taking advantage of another countries comparative advantage.

    Read More

  • Argumentative Essay On Free Trade

    2081 Words  | 5 Pages

    As Ian Fletcher pointed out in Free Trade Doesn’t Work: What Should Replace it And Why, nations need a well-chosen balance between openness and closure toward the larger world economy (Fletc...

    Read More

  • Are Democracy and Capitalism Compatible

    2012 Words  | 5 Pages

    In contemporary times, the rise of capitalism as a dominant economic trend and its ravenous demand to accumulate sources from new markets, has led to the idea of merging political and economic power into one, which is democratic capitalism or otherwise illustrated as “a system where markets allocate income according to efficiency while governments redistribute income according to political demand."(Iversen, 2006). The advancements mentioned earlier, have given ground for questions concerning the possible compatibility of the political ideology which is democracy and the economic ideology capitalism and how would they affect one another. This mergence could be examined in recent times, whereas in the past around the start of the nineteenth century it was considered as inappropriate and unlikely to happen. This paper aims to demonstrate to what degree are democracy and capitalism compatible, by examining the various areas of conflict of the two ideologies, how has capitalism affected the democratic system in the United States and does actually global capitalism have an impact on the developing countries democracies.

    Read More

  • Hegemony, Historical Bloc and Politics of the Yellow and the Red: Thailand Political Crisis in Gramscian Perspective

    3414 Words  | 7 Pages

    Tejapira, K. (2002). “Post-Crisis Economic Impasse and Political Recovery in Thailand The Resurgence of Economic Nationalism” Critical Asian Studies, 34(3), pp. 323– 356.

    Read More

  • Krugman's Is Free Trade Passe?

    1098 Words  | 3 Pages

    While free trade has certainly changed with advances in technology and the ability to create external economies, the concept seems to be the most benign way for countries to trade with one another. Factoring in that imperfect competition and increasing returns challenge the concept of comparative advantage in modern international trade markets, the resulting introduction of government policies to regulate trade seems to result in increased tensions between countries as individual nations seek to gain advantages at the cost of others. While classical trade optimism may be somewhat naïve, the alternatives are risky and potentially harmful.

    Read More

  • The Shift from Traditional Societies to a Market Society

    1020 Words  | 3 Pages

    Material and ideological conditions are integral components of a market society, which interacted and changed the ways we view market society today. I will discuss the shift from traditional societies to a market society to explain what Polanyi refers to as “the great transformation”. I will then talk about the changes that have occurred in the workplace, the impact on these workers, and the worldview of those in a market society.

    Read More

  • Emergence of Market Society

    1722 Words  | 4 Pages

    The market today has become so important that society takes it as completely natural. From “The Economic Problem” Heilbroner describes three main solutions, with the market being one. Furthermore into the market, Polanyis book “The great Transformation” gives insight on how much society actually allows the market to dominate. To Polanyi a market society is seen as social relations embedded in the economy instead of the economy being embedded in social relations. Examining both of these books gives a great understanding on how life was without the market and how it came to be. Taking note of Rineharts work as well on how the workplace has drastically been changed by the market is key to analyzing the transformation as a whole. As a result of the transformation, not only has human labour been altered, but another author known as Weber states that certain peoples view on the world have also be affected. This essay will establish how “the great transformation” (Polanyi) from a traditional society to one based on a market economy has vastly impacted societal workplaces, and societal beliefs around faith of idealogical conditions.

    Read More

  • DEMOCRACY AND DEVELOPMENT

    2269 Words  | 5 Pages

    There have been enormous efforts to spread democracy as a political system throughout the world by the developed democratic countries and the international development organizations including the World Bank. By the late 1990s the United States alone spent over a half billion dollars to promote democratic expansion throughout the world (Diamond, 2003). These were done considering that the democratic system leads towards development. As a result in the late 20th century we saw a huge political transformation towards democracy. During the last few decades a huge number of countries adopted democracy as their political system. However, it retain a big question how far democracy is successful in bringing development of a country? At this stage, some people also criticizes the effort of democratization arguing that it is done without considering the context of a country, sometimes democracy is not ideal for all countries and it is an effort to extinct diversity of political system. In studying the literature regarding the debate, we found a paradoxical relationship between democracy and development. Some argue that democracy has failed to ensure expected outcomes in terms of development. While others confronted that democracy has a considerable impact on development. Another group of people argue that form of political system actually does not have any impact on development process. On the verge of these debates, some development institutions and academics throw light on why democracy is not working properly, and what measure should be taken to make it more successful in bringing effective development of developing countries. Consequently, this writing is an effort of revisiting the different views about impact of democra...

    Read More

  • The Different Fate of Thailand and Hong Kong during 1997 Asian Financial Crisis

    2422 Words  | 5 Pages

    2. Columbia.edu. A Good Look at the thai Financial Crisis in 1997-98. 28 July 2013.

    Read More

  • Globalisation Globalization

    1287 Words  | 3 Pages

    Globalisation began at the time of colonisation and the industrial revolution. This was the start of globalisation; it briefly stopped during the First and Second World War because most of the industrial nations were involved in both wars. The current process of globalisation is created by the role of economy in globalising the world. It is very important to apply Marx’s theory of globalised capitalism in order to understand how the economy can produce globalism. Globalisation is economically determined through the establishment of international organisations and companies which function multilaterally by members from all over the world. The most important ones are the World Trade Organisations, International Monetary Fund, and Corporations. This essay explores how the economy plays a major part in shaping globalisation by revealing this role in areas like Trade, Finance a...

    Read More

  • Summary Of The Globalization Paradox

    1436 Words  | 3 Pages

    Following the Great Recession, the world has been facing complex global transformations. Dani Rodrik’s “The Globalization Paradox: Democracy and the Future of the World Economy” portrays the challenges of the implications that our current model of globalization relies upon. Rodrik’s work reveals both the implications and connections of the relationships between markets, the states, and globalization in the currently changing world. Throughout the book, Rodrik argues the validity of five key points: markets require regulatory institutions, such institutions take on a variety of forms, societies should orient their market-supporting institutions to their own unique needs, markets that are responsive to democracy can avoid institutional convergence, and a world that is responsive to democracy will not reach full globalization. This book has made me question the long term sustainability of the already evolving economic globalization process. Rodrik explains that the process of globalization must be managed so that the entire world can benefit.

    Read More

  • Globalization And Human Rights Essay

    1500 Words  | 3 Pages

    Since the late twentieth century, the world has experienced a vast transformation with regards to world economies, culture, and politics. The great advancements in technology and communication since the late twentieth century has served a catalysts for what is known today as globalization. The ambition to develop a single global economy along with a universal culture are the promises of globalization. Perhaps the clearest evidence that demonstrates globalization is a reality is the fact that at this point in time very diverse cultures form around the world closer to each other than ever before. That being said, when it comes to the spreading of democracy and human rights, having world cultures closer to each other can prove to be beneficial

    Read More

  • Globalization And Global Citizenship

    1446 Words  | 3 Pages

    For the first time, causing many to wonder, “What is globalization exactly, and why are the protesters so against it? “ “What are the mysterious institutions the WTO, the IMF, and the Bank- that the media keep? “ “And what could be so problematic about free

    Read More

  • Celtic Tiger In Ireland Analysis

    2117 Words  | 5 Pages

    During the twentieth century, the world began to develop the idea of economic trade. Beginning in the 1960’s, the four Asian Tigers, Hong Kong, Singapore, South Korea and Taiwan, demonstrated that a global economy, which was fueled by an import and export system with other countries, allowed the economy of the home country itself to flourish. Th...

    Read More

More about The Trend of Democracy, Capitalism, and Globalization

Open Document