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Fuelled by new forms of science and technology, military expansion, and aggressive colonization of southern nations and the developing world, capitalism evolved into a truly global system. Global capital is inspired by neoliberal visions of nations as resource pools and open markets operating without restrictions. The process euphemistically termed "globalization" is driven by multinational corporations such as and; financed by financial goliaths such as the and the , and legally protected by the World Trade Organization . It homogenizes nations into a single economic organism and trading bloc through arrangements such as the , the , and the European Union . Multinationals seduce, bribe, and coerce nations to open their markets and help drive down labor costs to a bare minimum, and rely heavily on corrupt dictators, loans and debt, and “hit men” and armies to enforce the rule of their “structural transformations” of societies into conduits for the flow of resources and capital. Globalization has produced trade laws that protect transnational corporations at the expense of human life, biodiversity, and the environment. It is accompanied by computerization of all facets of production and expanding automation, generating heightened, corporate downsizing, and greater levels of unemployment, inequality, insecurity, and violence. (en) |
