SOC101Y1 Chapter Notes -International Monetary Fund, Multinational Corporation, Adbusters
Document Summary
Globalization: social, economic and political process that makes it easier for people, goods, ideas, and capital to go around the world at an unprecedented pace. It makes the world look and feel smaller and involves a process of peripheralization that marginalizes certain groups. Globalization as a process means it is neither inherently good nor bad, and has real impact on environment and every single person in different ways. Virtual communities: people share interests and meet primarily on the internet. Digital divide: inequality of access to globalization/means of communication (phone, internet, etc. ) Top-down globalization: actions of groups promoting globalized capitalism and free trade. Neoliberalism: retreat from state spending and regulation; focus on individual responsibility for one"s own welfare; less protection for labour and environment; privatization of state resources; faith in the power of the market and profit motive to create wealth. Outsourcing: occurs when firms contract production and services to smaller, independent firms.
