Globalization is Capitalism

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Globalization is Capitalism
Dr.S.K.Baral, Director, India

Globalization is capitalism when it entered into an crisis phase in the late 1960s. Crisis in this context does not mean catastrophic economic break down nor does it mean capitalism as usual. In this conjuncture normal economic activity is not sufficient to restore prosperity because as accumulation slackens less profit is available for the maintenance of those institutions whose relative stability and reproducibility permit the repeated fulfillment of an important socio-economic function.

Globalisatión and the Present Time
Pascual Verdecia, Teacher, Cuba
Globalization is the result of the capitalist system but the socialist system has achieved benefits from economic integration and this can be seen as a way to globalize the economy from the generalization of the industries.



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