Globalization and Culture
Autor: Anthony Iukhymchuk • February 24, 2016 • Research Paper • 366 Words (2 Pages) • 692 Views
GLOBALIZATION AND ECONOMY
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18th of February 2016
GLOBALIZATION AND ECONOMY
The market feature that struck most was the notion of oligopoly in the American, and for that matter world, economy. Globalization is in fact facilitating the expanse of this system. Oligopoly is such a market structure in which the amount of trades in specific spheres is not numerous (Hodson & Sullivan, 2008). The latter create significant barriers to prevent new firms from penetration into the market. Oligopolic companies are characterized by such features as a high level of concentration of capital and production, and the ability to influence the volume of production and the price level in the industry. Relations between oligopolistic firms are characterized by interdependence. Companies know that their actions will affect competition in the industry, and make decisions only after they find out the nature of the reaction of their rivals. Oligopolistic firms use mainly methods of non-price competition. There is evidence that in many industries Oligopolistic rates have remained stable for a long period of time. This is I fact illegal if done in the open, which is why all the agreements are informal (Hodson & Sullivan, 2008).
World globalization has allowed multinational corporations to have an easier access to the various resources. In some cases to take full control of them (Bradshaw, 2013). The actions of multinational corporations have two effects on the lives of the people: they either have a better life (many move and migrate in order to work for a corporation that generally pays better), or makes their lives impossible and unbearable (exhausting resources in some areas of the world multinational companies destroy the ecosystem and life habitat of the people who resided there making the latter move and migrate from the area), There is not a single multinational company, who’s actions had only a positive effect leading to a strong anti-corporate globalization movement (Bradshaw, 2013)
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