BLOG 13 : Chapter 23 - Capitalism and Culture (The Acceleration of Globalization since 1945)

Sam Pastol

Chapter 23 highlights about Reglobalization, World of Economy and Capitalism:
Reglobalization was the quickening of global economic transactions after World War II, whcih resulted in total world output returning to the levels established before the Great Depression and moving beyond them. From the viewpoint of world history, the genealogy of globalization reached far into the past. Reglobalization had to do with a massive global trade since 1945: "World Trade, for example, skyrocketed from a value of some $57 billion in 1947 to about $18.3 trillion in 2012." (STRAYER pg. 1026) In addition, there was foreign direct investment, capital and personal credit. Where money comes from and where it is going is a major part of history because it moves as investments for example in industrial projects in other countries. Finally, new patterns of humans migration was present as well. Like I said previously, money moves but people too.

The chapter talks about Capitalism, specifically Global Capitalism. Global Capitalism is capitalism that transcends national borders. This term is based on the same ideology as classical capitalism, only now the holders of the means of production extend their reach to everywhere around the world, monetizing cheap labors and resources. This fourth epoch is backed by international policies that support the free movement and global exchange.
+ Production takes place on the global stage
+ Labor can be sources around the world
+ The financial system operates globally
+ Power relations are transnational
+ Generate more wealth ($ = $$) => by its nature utilized "exploration": Natural/Human Resources

pg. 1027 : Map 23.1 Globalization in Action: Foreign Direct Investment in the Late Twentieth
On Page 1027, it is a map of world with different sizes of red circles representing Foreign Investment (in million of $) across national borders. Foreign Investments were a major expression of globalization. The United Stated, Europe, Brazil and China were the ones that had the most Foreign Investments; that been said the U.S has more than 200,000 million of $ Foreign Investments while there are barely any investments in Africa.

so what?
+ Impact of Foreign Investments
+ Exploitation
+ Eventually -> high S.O.L
+ Probably less likely to go to War

pg. 1028 : A World Economy

pg. 1033 : Globalization & an American Empire
+ American Empire. (late modern period)
+ Sole remaining superpower
+ American exceptionalism




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