The globalization of capitalism

Definition

The globalization of capitalism is the worldwide expansion and integration of capitalist markets and production, influencing economic, political, and cultural systems across the globe. It involves the flow of goods, services, capital, and labor across national boundaries, shaping economies and societies on a global scale.

Related terms

Capitalism:

An economic system where trade, industry, and the means of production are largely or entirely privately owned and operated for profit.

Economic globalization: The increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital, and wide and rapid spread of technologies.

Cultural globalization: The transmission of ideas, meanings, and values around the world in such a way as to extend and intensify social relations, influencing cultures globally through common norms and lifestyles