Companies all over the world are being privatized on a large scale

Third, companies all over the world are being privatized on a large scale. Third World governments are being pressurized by the World Bank to privatize even more so that their economies may be more efficient. While governments earn money by selling companies, making tax cuts possible and attracting investors, this results in job losses, less affordable products, and worse service provision. Fourth, globalization has increased migration and migrant workers. Went (2000) asserts that it is only logical that with the increase in the international movement of goods, capital and people, there will also be an increase in the movement of people across boundaries. People are uprooted or see migration as a compulsion especially when work in another country is thought to be more economically desirable. In addition, because of the increased demand for low-paid and low-skilled work, these jobs are often left for migrant workers. Fifth, the broader reach of the market is supporting commodification, where everything is becoming a product to be bought and sold.


Leave a Reply

Your email address will not be published. Required fields are marked *