Causes of Economic Globalisation
- Created by: Reece Colley
- Created on: 20-03-14 10:15
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- Causes of Economic Globalisation
- The collapse of the bretton woods system
- major currencies were allowed to float (dollar not based on the price of gold as it was)
- destabalised global system as imports and exports more comepetitive
- increased role of TNC's
- major currencies were allowed to float (dollar not based on the price of gold as it was)
- The Bretton woods system
- Prevent economic protectionism
- Britain betweeen the Wars had traded exclusivly with the empire called the 'Stirling Zone'
- Deindustrialisation during the 1920's ruined Britain's trade arrangment and economy
- Britain betweeen the Wars had traded exclusivly with the empire called the 'Stirling Zone'
- fixed exchange rates
- support for Keynesian (heavy financial investment via loans
- Created a consumerist capitalism
- Prevent economic protectionism
- Collapse of the Communist world and the opening of the Chinese economy
- Structuralist View
- Capitalism is a global ideology,
- Globalisation is the end goal of Capitalism
- "it is profitable to remove all national boundaries and to captivate the whole world market" Karl Marx
- like imperialism in the nineteenth century was to maintain profit levels globalisation is a result of the global economic depression in the 1970's
- Liberal view
- against the Structuralist view
- Globalisation is the product of the human desire for self betterment
- the desire for money and proserity goes beyond national and cultural differences
- focus on the role of technology
- international movement of goods is much easier
- aeroplane (1903) telephone (1876)
- PC's have created a global finance markets and global stores (Amazon, Ebay)
- international movement of goods is much easier
- Hyperglobalists (radicals)
- Globalisation was inevitable when the internet, mobile phones and computerised financial trading became available
- Realist View
- focus on Mercentilism and the importance of the state in the global economy
- economics has not beaten politics
- the global economic system has been shaped by the political intersts of the USA
- globalisation is a result of US economic decline in the 70's and 80's to give american TNC's greater global reach
- shift toward globalisation happened through the world bank and world trade organisation
- globalisation is the result of the power that the US has in these structures (an example of structural power)
- Globalisation has not sidlined the state but is a tool for powerful states to get their objectives
- Globalisation represents the spread of Neo-Liberal ideology and is political
- the global economic system has been shaped by the political intersts of the USA
- economics has not beaten politics
- focus on Mercentilism and the importance of the state in the global economy
- The collapse of the bretton woods system
- The collapse of the bretton woods system
- major currencies were allowed to float (dollar not based on the price of gold as it was)
- destabalised global system as imports and exports more comepetitive
- increased role of TNC's
- major currencies were allowed to float (dollar not based on the price of gold as it was)
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