global capitalism
International free enterprise
Global capitalism is the worldwide economic system in which private ownership, market competition, and profit-seeking operate across national borders.
Capital, goods, and labor flow internationally, with multinational corporations and financial institutions wielding influence that often rivals or exceeds that of individual governments.
Critics argue it deepens inequality between rich and poor nations; proponents credit it with raising living standards globally.
The rise of global capitalism transformed manufacturing, shifting production to wherever labor was cheapest.
- commodificationTransforming into sellable goods
- free tradeUnrestricted international exchange
- neoliberalismPro-market, anti-regulation ideology
- invisible handUnintended societal benefit from self-interest
- neo-colonialismIndirect control of weaker nations
multinational corporations · too big to fail · consumerism · market · income inequality · wealth gap · Washington Consensus · climate change · supply chains · fast fashion · media conglomerates · labor exploitation · sweatshop labor · resource depletion · environmental justice · economic integration · social movements · privatization
- globalizationfree trade, multinationals, interdependence, multinational corporations, WTO
- McDonaldizationstandardization, predictability, calculability, control, efficiency
global capitalismcommunism
Collective ownership system
socialism · Marxism · central planning · command economy · state socialism
global capitalismautarky
Complete economic independence
economic nationalism · protectionism · isolationism · deglobalization · self-sufficiency
global capitalismanti-globalization
Opposition to worldwide economic integration
degrowth · eco-socialism · bioregionalism · communitarianism · post-capitalism