SOCA02H3 Lecture Notes - Lecture 8: International Inequality, Capital Economics, Modernization Theory
Document Summary
Globalization: concept to understand the ability to move people, goods, capital, and ideas throughout the globe in a faster rate. Transnational corporations: different from traditional corporations in five ways, depend on foreign labour and foreign production. Increasingly emphasize skills and advances in design, technology and management: depend increasingly on world markets, depend increasingly on massive advertising campaigns. Homogenization: globalization demands a singularity of experience and lifestyle, mcdonaldization a form of rationalization. People have been migrating across continents and even oceans for thousands of years. Global inequality: un calls level of inequality worldwide grotesque . Income inequality was astoundingly steep in 1985 and rose even higher since then: today, the richest 1 percent of the world"s population (about 70 million people) earn as much as the bottom 66 percent (about 4. 6 billion people). About 14 percent of the world"s people live on less than a day, and 37 percent on less than a day.
