Globalization-overarching term for new social structures, technology, economies, and cultures world-wide
The Case Against the Global Economy
The Rise of the Network Society ….facebook etc
For the first time the world is organized around a common set of economic rules stemming from capitalism
Forum 2000- Leaders discuss problems, politics, globalization, ethics
Common characteristic of globalization-Global information/communications network ….the internet!
New technological advances aid in globalization through communicative means, but also through the ability to transfer money faster and easier.
Core economic activities are now global. Innovation is the main source of competition and productivity. Knowledge generation and information processing is largely structured around networks of financial flows.
Experiencing increasing virtuality of finances and products
Markets are now influenced by computer processed/enacted investment strategies
2 trillion dollars exchange a day in global currency markets