11 Mar '13, 11am

Twelve Reasons Why Globalization is a Huge Problem

The discovery of America, the rounding of the Cape, opened up fresh ground for the rising bourgeoisie. The East-Indian and Chinese markets, the colonisation of America, trade with the colonies, the increase in the means of exchange and in commodities generally, gave to commerce, to navigation, to industry, an impulse never before known, and thereby, to the revolutionary element in the tottering feudal society, a rapid development. The feudal system of industry, in which industrial production was monopolized by closed guilds, now no longer suffices for the growing wants of the new markets. The manufacturing system took its place. The guild-masters were pushed aside by the manufacturing middle class; division of labor between the different corporate guilds vanished in the face of division of labor in each single workshop. Meantime, the markets kept ever growing, the demand e...

Full article: http://www.theoildrum.com/node/9871

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