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Despite the rapidly growing body of literature on the topic of globalization and its implications, there is disagreement about how to conceptualize what is happening. Although the term is widely used to characterize the profound changes unfolding in the world, the nature of these shifts and what they mean remain debated questions…
In this paper, I will describe the actual gains and losses to consumers in poor countries from globalization.
However, first, let us begin from the definition. Globalization can be defined as the unfolding resolution of the contradiction between ever expanding capital and its national political and social formations. Up to the 1970s, the expansion of capital was always as national capital, capital with particular territorial and historical roots and character. Afterwards, capital began to expand more than ever as simply the corporation; ownership began to correspond less and less with national geographies. Just as capital once had to create a national state and a defined territory, in the form of the transnational corporation (TNC) it has had to remove or transform this 'shell' to create institutions to ensure and facilitate accumulation at the global level. Globalization can also be grasped as the 'triumph of capitalism', that is, as the ascendancy of economics over politics, of corporate demands over public policy, of the private over the public interest, of the TNC over the national state. It is the last stage in the capitalization of the world..
Nevertheless, globalization today is accompanied by growing inequality, both within and between countries, and by a threat of exclusion faced ...
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