Communication and Global Capital Accumulation Essay

Communication and Global Capital Accumulation - Essay Example The globalisation of markets and the requirements of capital are, to a large extent, at the heart of these changes. Globalisation, entailing the removal of barriers to the cross-border flow of capital, has expanded the parameters of markets while simultaneously shrinking them. As Freund and Weinhold (2004) explain, globalisation has made international business, with the associate global capital exchange and generation, the norm rather than the exception. Business firms are no longer limited to their home markets but have expanded far beyond their borders as a direct consequence of globalisation. Indeed, the home market has become the global market, with the implication being that globalisation has expanded the former and contracted the latter (Freund and Weinhold, 2004). In other words, capital movements effectively obliterated national boundaries and have brought the world into closer contact with one another. The internationalisation of capital and the proliferation of international business relationships has largely been enabled by the Internet, both as a medium of communication and a space for the generation and exchange of capital. The Internet has not simply facilitated communication but in so doing, it has annihilated the space and time barriers. Space and time, the historical obstacles to the efficient exchange of information between corporations and markets have, according to Choi (2003) been transgressed by the Internet. Its wide application has afforded international business the tools it needs to engage in the global management of its markets and to supervise the international movement of its capital. Available facts indicate that the Internet has afforded companies such as General Motors the opportunity to create a network of suppliers which spans across 100 countries and to do business in most of the world just as it does in its home market. Further to that, the emergence and proliferation of the Internet as a media for the control, management and generation of capital has contributed to the multiplication of global foreign direct investment figures (Cohen and Prusack, 2005). Within the context of the stated, it is evident that the Internet has not only facilitated international business but it has contributed to the global flow of capital and its increased accumulation, largely because of its inherent capacity to transgress space and time. The requirements of global capital are not limited to the increased utilisation of the Internet as a business medium but to the redefinition of the very concept of communication. The traditional communication structure, while not obsolete, is increasingly irrelevant. Deetz (2004) explains that communication is no longer limited to the interpersonal and the real world. With the invention of the television and its subsequent entry into practically every home across the world, media communication and cultural scholars maintained that it was the herald of a new communications and cultural age. This medium, which has inarguably redefined communications and culture, pales in comparison to the Internet. TV transforms individuals into passive recipients of culture and communication while the Internet draws them in as active communication participants and

Final Term Paper Example | Topics and Well Written Essays - 1000 words - 1

Final - Term Paper Example However, majority people assume that a single male who is the main source of income, earn more than enough to support himself and his family. There was not at all a mutual agreement on in what ways a living wage can be define, however, there were number of administrative bodies and governments who take initiative in taking up the mission of developing multifaceted formulas (David, pp. 6-11) In modern times, this phrase living wage has reoccurred in United States of America. In the period of early 90s, focus was given more on jobs with low wage. Protesters in Baltimore, Maryland suppress their government to look for a policy tool so that their problems can have proper solution. The city then passed an ordinance known as living wage ordinance according to which any firm which hires workers must pay their employees or workers a good living wage. The idea was spread quickly in every part of the country. Today, after approximately seventeen years later, in 140 cities, multiple countries a nd countless universities this living wage ordinance is implemented. ... After some calculations, it is anticipated that more or less one-fifth of the entire population of the world are suffering from lack of adequate shelter, on the other hand, approximately a million or more people, mostly children, die every day due to lack of proper housing majority of which are targeted in developing world. There were many scholars who argue that it is quite complicated to make standardized criteria for sufficient housing in this entire world but there are some general norms which are: authorized security of residence, availability of infrastructure and services, accessibility, habitability, affordability, cultural and location adequacy. The rapid expansion and development in many cities go along with speedy increase in the total number of urban residents who reside in overcrowded and sub-standard conditions. The statistics of developing countries illustrate that town inhabitants represent approximately an average of twenty five to sixty percent of the population in urban areas. The current situation shows that the estimated percentage of urban population who lives in intense poverty is more than fifty percent; however, this may rise to almost seventy nine percent in most of the cities. More than one billion of urban dwellers are included in urban poor, whereas low income groups consist of approximately half of the existing urban population (Moser & Satterthwaite, 1985). Over the past three eras, there were many programs of official housing started in developing countries were unsuccessful in order to reach significant segments of the group, particularly households which are below twenty to thirty percent of the entire population. The