Download Economic Globalization at the Personal Level

Economic Globalization


Global system of production,
consumption, and trade
Organized around the profit imperative:
to maximize private ownership and
private gain
Review – Economic Globalization
at the Organizational Level

Rise of the transnational corporation
– Conduct business and control assets in
more than one country
– Relatively recent creations
– Now control 25% of global GDP
Review – Economic Globalization
at the Country Level


Economic globalization imposes the
development imperative on countries
Both strengthens and weakens nationstates:
– Economic activity requires public order
– Economic actors seeks deregulation
Economic Globalization at the
Personal Level


We’re all producers and consumers
now….
We’re all owners and sellers now….
We’re All Owners: Percentage Households Owning
Mutual Funds 1980-2007
Investment Company Institute 2008 Fact Book
We’re All Owners: Mutual
Fund Performance


Fidelity Latin America Fund
(FLATX)
Neuberger Berman Socially
Responsive Fund (NBSRX)
We’re All Sellers: U.S. Participation in
Paid Labor Force 1947-2007 (Federal Reserve)
We’re All Sellers : U.S. Participation in
Paid Labor Force 1947-2005
(Bureau of Labor)
With More Women in Labor Force…U.S.
Marriage & Divorce 1920-2004
(National Center for Health Statistics)
With More Women in Labor Force…Out of
Wedlock Births 1970-2003
(U.S. Census)
With More Women in Labor Force… Percentage
Females Never Married 1961-96 New Zealand
% of marriages ending in
divorce, Asian countries
(www.time.com/time/asia)
1990
2002
South Korea
11
47
Hong Kong
13
41
Japan
22
38
Singapore
15
26
China
8
15