The Creation of Modern Capitalism- The history of multinationals and Essay

The Creation of Modern Capitalism- The history of multinationals and the creation of global capitalism have been distinctly u - Essay Example Globalization is a course of action by which regional economies, societies and cultures have become incorporated in the course of global network of political thoughts through interactions, trades and transportations (Merriam-Webster Dictionary, 2010). Also, with the rise of multinational firms and corporation making and creating a world of collaboration, highly-dependent from each other by means of economy as well as political to survive in the global eco-political battle. Thus, we could view our world now being a spider web wherein each and every country is connected by one another through its dependency in resources and information. Moreover, with the rise of advanced technology like internets, telecommunications and alike, creating a stronger bond between and among countries through faster exchange of information. In this case, we are bounded by the things that these corporations had created. We shall tackle aspects on the history of globalization and its effects in the sphere of economy, politics and even in the society. Thus we shall see the benefits of this phenomenon and its disadvantage though comparative analysis to the studies, investigation and critical analysis made by other people. History It is believed that the process of globalization had started long time ago during the early ages where trades are used by the people to exchange goods and services. Also, in colonization era where one needs to import goods like spices, gold and even cultures from their colonizing countries. What seems to be the turning point of this event is during the 19th century where Industrialization occurs in the Western countries whereas processed goods are being introduces and new inventions are being catered to the business owners. During that time, Europe being the lead country producing goods highly needs materials that it will utilize to materialize the inventions of machineries in support to their production. Also, the dependency of the country to other country to ai d its resources for it to create the materials needed and the invention of communication gadgets like telephones strengthen the globalization. The first phase of modern globalization break down during the Word War I in the 20th century because of several monetary forces brought by this phenomenon boost the conflicts between the states during that time (Yeates, pp54-55, 1962). Countries during these times were focused on the battle and their triumph in it. Thus, multinational firms are being used by the state as an asset to support the spending on their warfare. Globalization eventually reached its peak after the World War II wherein international organizations like the United Nations (UN) were being established to solve state-to-states conflict in the international arena and that to settle disputes between and among states in matters of economy as well as politics. Furthermore, the attempt to cut down boundaries of trade was done through the Bretton Woods conference creating a frame work of international