"We now live in a world of multinational and transnational corporations" (Abercrombie and Warde). What implications does this have for us?

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"We now live in a world of multinational and transnational corporations" (Abercrombie and Warde). What implications does this have for us?

This is a question about the effects of globalisation on the world. Globalisation is quite a recent phenomenon, with the term only really being coined in the 1980's, however the concept has been around for decades, even centuries with the earliest expansion of European capitalism dating back to the early 16th century with the beginnings of colonialism. However, the rapid growth of globalisation began in the late 19th century with the build up to the 1st World War and the great depression forcing countries to trade. Following WW2 companies began to look globally for expansion with new markets now available. The 2nd industrial divide and development of new technologies, especially in the field of communication led to development of international business and when the Berlin Wall fell and the USSR broke up, capitalism was dominant and new areas of possibility began appearing. With the communication revolution that is occurring, especially the Internet and large corporations such as McDonalds spreading throughout the world globalisation is a reality that affects every single one of us in one way or another.