Capitalism & Free Trade Essay

1977 words - 8 pages

By: Cara Mezzetti E-mail: A global assembly line is a capitalist?s dream come true. It allows companies to do business in free trade zones to manufacture goods throughout the world at the lowest possible cost to the company. This assembly line enables companies like Nike, with corporate headquarters in the U.S. w to shut down their factories here, and move over seas where there are less restrictions and cheaper labor. Where as the production cost are drastically less in these free trade zones, so are the human rights laws, especially those pertaining to women, the majority of the work force. By moving its production sites to places like Asia, Nike is able to pay workers sub-minimum wage, on top of allowing the corporation to dodge responsibility for the treatment of its work force. Nike strategists have certainly managed to devise a plan to escape the responsibility and liability of insuring that it assembly line sites are safe, healthy and fair labor places of work, by subcontracting to foreign owned and governed factories. South Korea, the " sneaker capital of the world" is one of these places. According to the article "The Globe Trotting Sneaker" the workers in these assembly factories are predominantly women. The article also highlights the fact that South Korea has a military government that possesses a strong determination to suppress labor organizations. Nike is not blind to this information. These facts only work more for the sneaker typhoon. It allows them to profit legally from under paid, over controlled and unorganized women laborers. A Confucian following culture. In which Korean women except the philosophy that her morality is measured by the amount of hard work she is willing to endure for her families well being and to acquiesce to her father and husbands dictates is yet another benefit that Nike reaps the profits from. The Global assembly line affects every part of the factory workers life both U.S and Korean. This is due to the fact that at any given time, the corporation may decide to pick up and move to a neighboring country because the labor is cheaper and the restrictions fewer. The women working in these factories of South Korea endure numerous difficulties, low pay, poor work conditions etc.. For many years they remain silent. In the 1980?s the silence was broken, but not shattered. For the first time, women workers organized, separate from the men and brought their issue to be heard. They began to rebel against not only the companies for which they worked, but against the government. Eventually, they won the right to organize, and they created the Korean Women Workers Association. (KWWA) This union was a major political and economic feminist move. Prior to its creation, women enjoyed no representation or benefits from their anti-union government. The trade agreements that South Korea entered into were for monetary reason only, with no worker consideration or rights. Though the KWWA has not changed the...

Find Another Essay On Capitalism & Free Trade

What is Capitalism?, This essay defines capitalism by using examples written in essay form

1058 words - 4 pages . Mercantilism involves the distribution of products in order to obtain a profit. Products are bought for a certain price somewhere and are then sold at a higher price somewhere else. Over time in Europe, mercantilism evolved into capitalism. As with mercantilism, capitalism is the large-scale realization of achieving a profit by selling goods for more than they were paid for originally. Distribution of wealth, freedom, free-competition and a limited

What is Democracy Essay

1700 words - 7 pages Capitalism is a form of economic model that stresses on private ownership when it comes to production, trade, and industry. The goal of all capitalists is to use various inputs in order to obtain profit. The main characteristics of capitalism are capital accumulation, competitive markets and wage labor. Ever since the fall of the communist Soviet Union the majority of the nations of the world have adapted capitalism as its main economic model


1433 words - 6 pages individual free to act upon his own judgment. This is what capitalism does. All decisions are to be left solely to the “free market”. Obviously, decisions are left up to buyers, sellers, manufacturers and distributors. In a laissez-faire, free market economy, the individual is driven by his own ambition. If both partners in the transaction do not expect to gain from the transaction, they are free to go elsewhere. According to Adam Smith

Economic Systems: Socialism and Capitalism

1289 words - 5 pages I have observed that when Americans discuss the relative merits of socialism vs. capitalism, the chief debates that come up are • What would happen if we remove the stimulus for innovation and productivity that a free market generates? This implies having a free market including individual ownership and control, and to varying degrees a laissez-faire government. • Would it be possible to have a thriving society in which we would not have 20% of

Assess Marx's claim that Communism would be superior to Capitalism

2258 words - 9 pages may benefit economically. However the free market, and free trade in particular, keeps the Third World under capitalist subjugation. Free Trade is supported by the World Trade Organisation (WTO) as it opens up competition, yet free-trade only benefits 'the most economically advanced countries' (Jary & Jary 1991:239). Capitalism often relies on oppression and exploitation, particularly of the Third World, for cheap labour and maximum profit

Socialism versus Capitalism in The Jungle by Upton Sinclair

1662 words - 7 pages capitalism. Capitalism has infiltrated China. Even though the politics of China are still Communist, its expansion of trade with the west as well as its open markets are capitalist ideals. This has enabled China to become a more prosperous nation. In Europe, almost every country has a government run national airline, a socialist principal. In Norway capitalism has been combined with socialism. There is universal health care, as well as free education


873 words - 3 pages capitalist society. He believed that a countries wealth depends on all people pursuing their own interests. Smith thought that the government should promote free trade and not interfere by protecting certain industries from competition. These policies were adopted by much of Western Europe and continue to be fundamental components in the thinking of the most right wing government today(Kendall, 408).Clearly capitalism has its benefits because of

Class Conflict in Canada

2550 words - 10 pages government cannot redistribute wealth. A large part of this problem of class conflict in Canada is connected to the fact that free trade has lowered tariffs and bound the economies of the United States and Canada more tightly together. (White, pg 151-153) More than anything else, free trade has also led to more policies of deregulation and privatization in Canada. Marx felt that in capitalism the "real power is not to be found in democratic

Wall Street 2

616 words - 3 pages the consequences of taking ARM equity loans. That being said, Rand was a strong advocate of private property, which “was brought into existence only by capitalism.” Through freedom humans can create wealth via free trade and with no government interference, as the role of the government is to protect the property rights of individuals through laws alone. Thought allows people to make rational self-interested decisions “In order to sustain life

Capitalism: A Better system

675 words - 3 pages , provides the best system for meeting wants and needs of individual?” The answer is capitalism. Capitalism focused on the needs of an individual; it’s proved to be more efficient than communism. Also, it’s a long-lasting system that majority of the world is still using today. According to the article on “Wealth of Nation” (1776) by Adam Smith, it quoted “Instead of government interference, these economists argued that a free market, in which

The History of Capitalism

1434 words - 6 pages nineteenth century, precisely during the 1850’s through the 1860’s. Industry, communication, agriculture, transportation, and foreign trade “stirred up all the contradictions inherent in capitalism” ( Kan 9). The Paris Commune created in 1871 and the global economic crisis in 1873 “were concentrated manifestation of the political and economic contradictions of capitalism during this period” (Kan 21). This point in time was the transition from a “free

Similar Essays

Capitalism Essay

1141 words - 5 pages Capitalism is the name given to the economic system that incorporates free enterprise and a market system by Karl Marx, the founder of communism. By the textbook definition, capitalism is an economic system in which private individuals and business firms carry on the production and the exchange of goods and services through a complex network of prices and markets. (Heilbroner1 13-15) Capitalism is a philosophy that originated in Europe, where it

Redefining The Global Economy Essay

1774 words - 7 pages Redefining the Global Economy 1914 marked a critical turning point in global affairs and the economy, as the Great War caused physical destruction in Europe, and destroyed the system of global capitalism of the Golden Age. During the interwar period, American isolationism from international trade and affairs left the major powers without the infrastructure or leadership to continue the international trade, investment, and currency stabilization

The Relationship Between Capitalism, Slavery, Colonialism And Apartheid

1329 words - 6 pages The relationship between the growth of capitalism and slave labour is historically connected. Nevertheless, slavery does fundamentally differ from capitalism; in that capitalism requires free or cheap labour, where as slavery requires forced labour. However, slavery cannot be conceptually separated from the development of capitalism. Hence, slavery was the foundation of colonial trade amongst the triangular trade region, as well as the

The Rise Of The Cronies Essay

870 words - 4 pages taxpayers’ expense. In grade school we were always taught about Americas free market economy. In a free market economy government is limited and consumers and producers are free to trade at agreed upon prices. Free market capitalism is a system characterized by voluntary rather than coercive exchange. By contrast, it is the coercive exchange that runs our economy. There are many mechanisms behind crony capitalism; subsides, bailouts, tax breaks