Impact of Economics in Political and Social Change
Please use the following three reasons to explain why economics is the most important factor in the globalisation process that has been used in relation to a host of social, economic, cultural and political factors.
The impact of economic globalisation in the form of the international division of labour (growth of industry in China, India, etc and the deindustrialization of sections of the so-called developed societies). Moreover, the significance of migrant labour.
The relative size and importance of MNCs as economic agents (as compared with nation states).
Point to the centrality of economic matters in the relations between governments, to the importance of the growth of the cultural economy in relation to cultural globalisation.
1. In a world without an international division of labour, each individual state would have to provide itself with all its needs.
