Question

Discuss the causes and consequences of global capitalism and of the control wielded by large corporations. As part of this discussion, include the social causes and effects (nationally and individually) of worker alienation and unemployment. What implications do all of these things have for the child’s quality of life, working life, and ability to find work?

1. Support your ideas with information from at least two sources found in your readings and exploration materials. Consider bringing forth points from Marx’s analysis of alienation and work.

Answer 1

The capitalism emerged as the most important phenomenon during the period of globalisation. This globalisation increases the level of production and welfare in both developed and developing countries. Thus the global capitalism was emerged mainly under the influence of merchant class. Increasing foreign trade, international transportation, higher level of foreign relations, increasing population and growth or urban areas paved way for the acceptance of global capitalism. This global capitalism increased the overall development of the world. Most of the growth oriented programmes and policies were based on the capital investment and the mobility of capital. This capital mobilisation increases the inputs of labour, materials and energy for the production.

The rise of global capitalism over the world increases the inequality among the economy and the social groups. This allows the people to hold property and also gives the right to gain wealth and increase the competition in the market. This was negatively affected by the poor countries. The poor countries remain poorer and the rich become richer. The increasing level of competition among the countries retards the growth of domestic firms. Capitalism determines the remuneration on the basis of the role of individuals in the society. Disproportionate distribution of wealth, diminishing level of non renewable resources and the increasing pollution are the major negative effects of this globalised capitalism.

There is high level of unemployment occurred in rural areas and remote areas. Most of the manual labours lost their work because of the higher level of influence of machines and other technologies in the market. There were workers alienation occurred in the economy. This paved way for the development of technical oriented education and technology oriented measures. This will increase the demand for technically employed people and increase the employment level in both rural and urban areas.