Write a persuasive essay on Concept of global capitalism.
“The essence of capitalism is to turn nature into commodities and commodities into capital. The live green earth is transformed into dead gold bricks, with luxury items for the few and toxic slag heaps for the many. The glittering mansion overlooks a vast sprawl of shanty towns, wherein a desperate, demoralized humanity is kept in line with drugs, television, and armed force.”
The above quoted lines of Michael Parenti from his famous work “Against Empire” is a pertinent reflection on the ill-effects of the concept of global capitalism and the way it has impacted the business world in the present times. The concept of global capitalism has gained much prominence in the recent times on the score of various factors (Panitch and Gindin 2012). It is significant to note that the major focus of the majority of the business organizations in the present times is on increasing the amount of net profit gained by them on yearly basis (Panitch and Gindin 2012). However, the sole focus of the profit factor is has various adverse effects as well. The primary disadvantage of this particular aspect is that it has in a way brought back the concept of slavery once again in the framework of the business world. It is significant to note that the “business world in the present times has become much more competitive than it was in the previous times and it is generally seen as a reflection of the advent of globalization and the recent developments in the fields of technology and innovations” (Panitch and Gindin 2012). Therefore, it can be said that the business world in the present times has undergone much transformation in the present times. Thus, the major focus of the various business organizations is on the concept of increase of productivity and for this they often end up taking the help of the various kinds of strategies some of which are often seen as unethical (Shankar and Cavanaugh 2012). The net result of this that the employees in the present times have become a modern version of the 18th and the 19th century slaves albeit in a modern setting(Shankar and Cavanaugh 2012). The thesis statement of this essay is “Business organizations are accountable to contribute to the diminution of the act of slavery”. This paper will discuss about the concept the global capitalism and the impact it had on the various employees.
Slavery
The concept of slavery has formed a part of the human civilization since the ancient times. In the traditional times the various civilizations of the world used this particular concept to get most of their domestic and other works done (McDonnell and Burgess 2013). Similarly, in the 18th and the 19th century the various people from the nation of Africa were used as slaves in the nation of the United States of America and other nations to “bring about the overall growth as well as the development of these nations” (McDonnell and Burgess 2013). In the opinion of many people the institution of slavery is a very inhumane one and therefore should be eradicated (McDonnell and Burgess 2013). It is significant to note that the various slaves were not paid any kind of salary and were not even given adequate food for their sustenance. In the opinion of many people the various first world nations of the world brought about their economic growth at the cost of the lives and the hard work of these slaves (Archive.nytimes.com. 2018). The concept of slavery was abolished in the later part of the 19th century in the nation of the United States of America by its President Abraham Lincoln (Archive.nytimes.com. 2018).
The various employees related to a particular business organization one of the most important entities of the entire business process of the business organization. The various employees related to a particular business organization are entrusted with the most important works in the organization like the manufacture of the various goods as well as services offered by the concerned business organizations to its customers or the end users, the selling of the products or the services manufactured by the business organizations to the various customers or the end users of the products or the services, the diverse kinds of promotional jobs and others (Golash-Boza 2015). In addition to these, it is generally seen that the various employees are entrusted with the work of the supervision of the performance as well as the work of the other employees related to the organization (Golash-Boza 2015). Therefore, it would be fair to say that the various employees are an indispensable part of the various business organizations. Thus, with the view to manage these diverse important entities of the workplace the various business organizations often take the help of the diverse “human resource management teams” (Golash-Boza 2015). The primary role of these “human resource management teams” is not only to recruit and select the various candidates who would be able to work for the organization in the most effective manner but also to train them in the most effective manner so that they would be able to perform their job roles in a much manner (Chakrabarti, Dhar and Cullenberg 2012). Furthermore, these “human resource management teams” are also required to create a positive environment at the workplace which would be very congenial for the work of the individuals (Chakrabarti, Dhar and Cullenberg 2012). Therefore, it can be said that the primary focus of the most of the business organizations in the present times is on the improvement of the performance of the individual employees and thereby indirectly improve the overall performance of the organizations. Thus, with this purpose the various organizations take the help of various kinds of innovative techniques to enhance the performance of the various employees like the concepts of “employee engagement, recreational activities, training, effective motivation” and others.
In the opinion of William I. Robinson articulated in his book “Latin America and Global Capitalism” “today’s global capitalist economy is the result of worldwide market liberalization and the construction of a new legal and regulatory superstructure for the global economy and the internal restructuring and global integration of each national economy…..global policy regime that breaks down all national barriers to the free movement of transnational capital between borders and the free operation of capital within borders in the search for new productive outlets for excess accumulated capital”. Furthermore, in the opinion of many people the current global capitalism which the world is facing in the present times can also be seen as “the fourth and current epoch of capitalism” (Roberts, Hite and Chorev 2014). However, the factor which distinguishes this particular capitalism from the earlier ones is the fact that in the earlier times the process of capitalism was restricted within a particular nation or territory however in the present times the process of global capitalism transcends the national borders and it is commonly seen that the various business organizations often take the help of this particular concept “not only to expand their business in other nations of the world but also to bring about the overall growth as well as the development of their overall business operations” (Roberts, Hite and Chorev 2014). In the opinion of many scholars there are five major characteristics of the present form of global capitalism which the world is experiencing at the present moment, namely “the production of goods is global in nature, the relationship between capital and labor is global in scope, highly flexible, and thus very different from epochs past, the financial system and circuits of accumulation operate on a global level, there is now a transnational class of capitalists whose shared interests shape the policies and practices of global production, trade, and finance and the policies of global production, trade, and finance are created and administered by a variety of institutions that, together, compose a transnational state” (Hill and Kumar 2012). These in short are some of the basic precepts of the concept of global capitalism which the world is experiencing at the present moment.
The concept of global capitalism has both advantages as well as disadvantages and it has impacted the business world in a significant manner. The primary advantage which the concept of globalization provides to the various business organizations in the present times is that it has rapidly transformed the way the diverse business organizations transact their business (Cavanaugh and Shankar 2014). Therefore, the primary focus of the various business organizations in the present times is on the manufacture of the surplus amount of goods as well as services and also to deliver them to the customers as fast as possible. Another significant advantage which the concept has provided to the various business organizations is that it has much expanded the business area and also the customer base of the concerned business organization (Cavanaugh and Shankar 2014). The major disadvantage of the process of global capitalism is that the concept has shifted the focus of the various business organizations from the employees to the manufacturing of the goods as well as services. Therefore, it is generally seen that the various employees within the business organizations in the present times are often subjected to the kinds of treatment which are on par with the treatment which the various slaves used to receive in the 18th and the 19th century (Wood et al. 2015). Furthermore, the sole emphasis on the concept of profit has adversely affected the prospects of the various business organizations and has raised many ethical concerns in the present times (Wood et al. 2015).
In the opinion of Edward Abbey articulated in “The Journey Home: Some Words in Defense of the American West” “Growth for the sake of growth is the ideology of the cancer cell”. It is significant to note that when the concept of global capitalism is taken into consideration it will become apparent that the sole focus of this particular concept is to bring home the maximum amount of profit which could be procured by any means- whether fair or foul. Thus, the primary focus of the various business institutions in the present times is on the concept of profit and they rarely take into consideration the “needs as well as the requirements of the various employees who are a part of their business organization” (Brondoni 2014). The opinion of Fidel Castro is very significant to note in this particular context when he says that “Capitalism has neither the capacity, nor the morality, nor the ethics to solve the problems of poverty”. Therefore, in the present times it is seen that with the advent of the concept of global capitalism the “rich people are becoming even rich and the poor people are becoming poorer”. It is a reflection of this that the world has not undergone much transformation in terms of the economic framework. Inspite of the rapid economic transformation which the world has undergone in the present times the section of the people who were poor still continue to belong to that particular section of the society (Robinson 2014). Moreover, the employee-owner relationship also has not undergone much transformation in the recent times from the time of the slavery. It is generally that even in the present times after the introduction of the concept of global capitalism, the employee-owner relationship still continue to be the same as it during the time of slavery in the nations of the United States of America and the other nations of the world (Robinson 2014). During the time of slavery the various slaves were required to work for more than eighteen to twenty hours and even in the present times it is seen that the various employees related to a particular organization need to work for roughly the same period of time in a bid to meet their monthly targets which are given to them (Stephen 2014). Furthermore, even the wages which are being offered to the various employees related to a particular business organization are not in synchronization with the amount of hard work which the various employees need to perform. The words of Albert Einstein in this particular context are very pertinent to note when he says that “The payment of the worker is not determined by the value of his product”. Therefore, the payment or the salary of a particular employee should be determined on the basis of the hard work which the concerned employee is required to perform for the business organization to which he or she is related (Stephen 2014). It is generally seen that most of these business organization try to fox the various employees related to them with the words “Work is the best route out of poverty”. However, it is generally seen that the employees even after working for long tiresome hours get below par salaries for the hard work which they put in their jobs.
The role which the “human resource management teams” of these business organizations play is not as per the requirements of the employees. The “human resource management teams” of these organizations are instead of focusing on the well being as well as the interests of the employees are concerned about protecting the interests of the business organization (Wright 2013). The “human resource management teams” in idea situations should focus on making the workplaces a more congenial place where the employees can work in an effective manner not only “for the achievement of their own goals but also for the achievement of the overall goals as well as the objective of the various business organizations” (Dirlik 2015). However, in the various business organizations in the present times post the introduction of global capitalism it is seen that instead of focusing on the improvement of the workplace and the personal goals of the individual goals of the employees the various business organizations focus only on the increase in the net profit gained by the concerned business organization within a particular period of time (Avilés 2012). Therefore, it can be said that even in the present times the concept of slavery forms a dominant aspect of the society.
In the opinion of Matt Taibbi articulated in his famous work “Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America”” In a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy”. In the opinion of many people the primary role of the various business organizations in the present times should be to provide equal economic opportunities to the various people (Smith 2014). However, in the present times it is seen that the entire machinery of the various business organizations is directed solely towards the increase of the amount of profit gained by them without taking into consideration the “needs as well as the requirements of the various employees related to the business organization” (Smith 2014). This condition of the employees is very similar to the condition of the slaves in the society of the United States of America in the 19th and the 20th century. The various employees in the present day are treated in the same manner as the various slaves have been treated by their owners since the ancient times (Baer 2012). It is significant to note that the employees are provided with just the kind of salary which is likely to hold together their body and soul together but would not cause a significant change in their economic status. Therefore, it can be said that the concept of global capitalism as well as employee satisfaction are just a façade used by the various business organizations of the world to maintain the economic status quo of the world in the most effective manner (Baer 2012). Therefore, the various “human resource management teams” related to the various business organizations need to come up with effective measures in order to reduce the level of economic discrimination faced by them. Furthermore, the “human resource management teams” related to the various business organizations also need to come up effective plans in a bid to enhance the job satisfaction level of the employees so that they would be able to work in a much better manner (Chun 2013). This will help to reduce the level of injustices faced by the various employees in the present times and also to make them better than the slaves of the 19th and the 18th centuries. The governments of the various nations also need to come up with various kinds of plans to help further the cause of the employees and provide them better economic means (Bazzul 2012).
The concept of global capitalism is a very nascent one and much research has not been done in this particular area. The concept of capitalism is a very old one but the concept of global capitalism was innovated only a few decades ago and most of the business organizations are taking the help of this particular concept “to bring about the overall growth as well as the development of their business process”. The area of business management has been a topic of much research by the various scholars and researches. However, the area of global capitalism is a nascent one and therefore much research needs to be conducted in this particular area so that the various business organizations can utilize this particular concept in a much better manner. Therefore, this particular research focusing on the concept of global capitalism will be a very relevant one in the area of business management.
Conclusion
To conclude, the business world has undergone much transformation in the recent times yet the condition of the various employees has not improved in any significant manner. The various employees related to the business organizations work and get treated in more or less the same manner as the various slaves in the 18th and the 19th centuries were treated. The rise of the concept of global capitalism has not improved their condition any bit further on the other hand it has aggravated their condition even further. The sole focus of the concept of global capitalism is on the enhancement of the net profit gained by the various business organizations and it is often seen that they completely disregard the interests of the employees.
References
Archive.nytimes.com. 2018. The Challenge of Global Capitalism. [online] Available at: https://archive.nytimes.com/www.nytimes.com/books/first/g/gilpin-capitalism.html?mcubz=3 [Accessed 25 Apr. 2018].
Avilés, W., 2012. Global capitalism, democracy, and civil-military relations in Colombia. SUNY Press.
Baer, H.A., 2012. Global capitalism and climate change: the need for an alternative world system. Rowman Altamira.
Bazzul, J., 2012. Neoliberal ideology, global capitalism, and science education: Engaging the question of subjectivity. Cultural Studies of Science Education, 7(4), pp.1001-1020.
Brondoni, S.M., 2014. Global Capitalism and Sustainable Growth. From Global Products to Network Globalisation. Symphonya. Emerging Issues in Management, (1), pp.10-31.
Cavanaugh, J.R. and Shankar, S., 2014. Producing authenticity in global capitalism: Language, materiality, and value. American Anthropologist, 116(1), pp.51-64.
Chakrabarti, A., Dhar, A. and Cullenberg, S., 2012. World of the third and global capitalism. Worldview Publications.
Chakravartty, P. and Da Silva, D.F., 2012. Accumulation, dispossession, and debt: The racial logic of global capitalism—an introduction. American Quarterly, 64(3), pp.361-385.
Chun, L., 2013. China and global capitalism: Reflections on Marxism, history, and contemporary politics. Springer.
Dirlik, A., 2015. Global modernity: Modernity in the age of global capitalism. Routledge.
Dirlik, A., 2018. The postcolonial aura: Third World criticism in the age of global capitalism. Routledge.
Golash-Boza, T.M., 2015. Deported: Immigrant policing, disposable labor and global capitalism. NYU Press.
Gray, J., 2015. False dawn: The delusions of global capitalism. Granta Books.
Hill, D. and Kumar, R. eds., 2012. Global neoliberalism and education and its consequences. Routledge.
McDonnell, A. and Burgess, J., 2013. The impact of the global financial crisis on managing employees. International Journal of Manpower, 34(3), pp.184-197.
Panitch, L. and Gindin, S., 2012. The making of global capitalism. Verso Books.
Roberts, J.T., Hite, A.B. and Chorev, N. eds., 2014. The globalization and development reader: Perspectives on development and global change. John Wiley & Sons.
Robinson, W.I., 2012. Global capitalism theory and the emergence of transnational elites. Critical Sociology, 38(3), pp.349-363.
Robinson, W.I., 2014. Global capitalism and the crisis of humanity. Cambridge University Press.
Shankar, S. and Cavanaugh, J.R., 2012. Language and materiality in global capitalism. Annual Review of Anthropology, 41, pp.355-369.
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Wood, D.J., Logsdon, J.M., Lewellyn, P.G. and Davenport, K.S., 2015. Global Business Citizenship: A Transformative Framework for Ethics and Sustainable Capitalism: A Transformative Framework for Ethics and Sustainable Capitalism. Routledge.
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