• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Analysis of the mechanisms used by international economic elites to convince people of the virtues of globalisation

Extracts from this document...

Introduction

ANALYSIS OF THE MECHANISMS USED BY INTERNATIONAL ECONOMIC ELITES TO CONVINCE PEOPLE OF THE VIRTUES OF GLOBALISATION AND THE EFFECTIVENESS OF THE REACTION AGAINST GLOBALISATION I- Analyze the mechanisms used by international economic elites to convince people of the virtues of globalization. In my essay paper I will introduce the global elite class defining their structure and the way this organization functions. The representatives of this powerful social and economic group make serious decisions in a secret context. Apart from the world minority, the global system seems to work on their pre-planned scheme. However this type of system requires a lot of instruments and tools for the governance of the 99per cent of the rest of citizens. These tools are very well known and form in the global capitalist society a life routine. I specify the Bank institutions and the Mass Media. Both of them have unreachable power to control people, lifestyles, countries and continents. We all heard about the term elite that in general use refers to a selected group of persons with intellectual dots as well as wealthy that adopts powerful and dominated positions my means of premeditated and selected behavior. Our light-speed, globally connected economy has led to the rise of new super-elite that consists, to a notable degree, of first- and second-generation wealth. Its members are hardworking, highly educated, jet-setting meritocrats who feel they are the deserving winners of a tough, worldwide economic competition-and many of them, as a result, have an ambivalent attitude toward those of us who didn't succeed so spectacularly. ...read more.

Middle

Responsible borrowing to a very large extent is what drives the economy. The countries borrow credit for various purposes, but mostly to provide goods and services to the people. Companies borrow for various reasons, and basic economic theory attests to the fact that companies prefer a regime of low borrowing costs so that they can expand productive capacity. Debt is the main form of finance used worldwide. In a capitalist society debt has been greatly normalized, with financial institutions being in the business of marketing debt. "The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented ... Bankers own the earth. Take it away from them, but leave them the power to create money, and with a flick of the pen they will create enough money to buy it back again ... if you want to continue to be slaves of the bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit." - Sir Josiah Stamp, Head Of The Bank of England, 1781. The monetary and financial policies as complement, not replace, structural solutions, and lead to monetary stability and lower interest rates to stimulate investment in the productive sectors and services, while it would take measures to encourage the use long-term credit. However the credit system : the less-wondrous inventions, particularly the explosion of subprime credit helped mask the rise of income inequality for many of those whose earnings were stagnant. ...read more.

Conclusion

In conclusion, it is very difficult to give any opinion about the effectiveness of the reaction against the globalization because there is a delicate political and economical situation over the world. The global crisis take make the scenario take different views very often. Many countries are waiting for the following decision of the World Bank, World Trade Organization, and the International Monetary Fund. However, the last couple of years a serious rage of world protest, campaign, demonstration and occupying are taking place. Africa, Europe, America and in some parts of Asia people are becoming more conscious of the lack in the present system and start fighting pacifically in order to appeal for a democratic change. The result of such massive activism is momentary uncertain as it is uncertain for the political system. REFERENCE 1.Thompson, Peter (1980). "Bilderberg y Occident" . South End Press . p. 158. 2.Bilderberg Meeting Of the 1997 Assembles, PR Newswire, News Release, June 13,1997 http://www.prnewswire.de/cgi/release?id=42594 3. Korten David C., The corporations rule the world, 2nd edition 2001 4. Downing, John, ed (2004), The SAGE Handbook of Media Studies, SAGE. p. 296. BIBLIOGRAFY -Ronaldo Munck, "Globalization and Contestation", 2007 -Strohschineider T, "The euro debt crisis must force a re-evaluation of capitalism" The Guardian, October 3,2011 http://www.guardian.co.uk/commentisfree/2011/oct/03/germany-euro-debt-crisis -Inside the secretive of the Bilderberg Group, BBC news September 29, 2005 -The rise of the new global elite, Freeland C, The Atlancic Februaty 2011 -http://www.theatlantic.com/magazine/archive/2011/01/the-rise-of-the-new-global-elite/8343/7/ ?? ?? ?? ?? ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree International Politics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree International Politics essays

  1. Marked by a teacher

    Explain the economic and political deficiencies of the C A P

    3 star(s)

    could have been imported more cheaply. Along with this, the obviously protectionist stance of the C.A.P. could have provoked costly international trade wars, (this could still be the case with the E.C. and the U.S.A. still not in total agreement over the latest G.A.T.T.

  2. What is Globalization?

    FDI, portfolio investment through country funds, bank loans, bond lending, derivatives and etc., have proliferated significantly. Economic theory asserts that trade in financial assets will benefit individual countries in much the same way to trade in goods. In theory, financial transaction produces two benefits; increased diversification of risk and an

  1. "The Global Institutions of Globalization"

    (Hajnal 1) In the new era, the Group of Eight, composed of the world's major market democracies, including Russia and the European Union, is emerging as the effective source of global governance. At present, many individuals feel their lives are subject to fast-paced, far-reaching forces, flowing in from far-off foreign locations and disrupting their familiar routines.

  2. Does globalisation undermine the nation-state and national identities?

    Increasingly, nation states resemble each other in their cultural forms25 as a result of the diffusion of 'specific values systems connected with consumerism, individualism and US lifestyles'26. National cultures effectively become squeezed between the global and the local. Nonetheless, suggestions that a truly global culture is developing ignore important aspects of these shifts.

  1. How Should We Define Globalisation?

    regional and global at the other... It is about the interconnections between different regions of the world - from the cultural to the criminal, the financial to the environmental - and the ways in which they change over time."5

  2. Does Globalisation necessarily mean the end of the "nation-state"?

    The globalist thesis fully agrees to this assumption. In contrast, a nation states remains an important actor in global political economy. Its role is, indeed, experiencing a reconfiguration, while its government, as sceptists argue, is not the passive victims of internationalization but, on the contrary, its primary architects.12 Before moving

  1. Why Is the Middle East a Conflict Area?

    leverage the Arab states held over the oil-dependent economies of the capitalist world. . . . Throughout 1981 there was a noticeable rise in tension: a missile crisis with Syria in spring was followed on 7 June by the raid against the Iraqi nuclear centre of Tammuz.

  2. Describe and Account for the changing role of the Bretton-Woods institutions from the 1940's ...

    As trade disputes increased, the GATT under pressure from the U.S. became more and more involved in dispute settlement which in themselves were getting continually entangled with legal procedures. In 1995 talks that began in 1986 culminated with the creation of the World Trade Organisation (WTO).

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work