Biology Forums - Study Force

Discuss the sociological significance of global capitalism.

The global integration of giant corporations is the most significant economic change in the past 100 years, one that will continue to dramatically change the way everyone lives and works. Workers in a global economy are all interdependent because they now live in the same economic web. In other words, people's daily lives are dependent on workers around the globe. Multinational corporations are becoming the principal political forces in the world, reshaping the globe. Global capitalism has resulted in the world's nations being divided into three primary trading blocs – North and South America dominated by the United States, Europe dominated by Germany, and Asia dominated by Japan. This new world structure is benefiting multinationals, resulting in their promotion of free trade. Free trade will produce greater competition, lower prices, and a higher standard of living. But, global capitalism has also resulted in the loss of a vast number of production jobs in the Most Industrialized nations, and it may lead to a decrease in nationalistic ties as identity expands from the nation to the global region.