Globalized Capitalism

Paper Summary:

This paper discusses the context for the current struggle between labor and capital, known as globalized capitalism. It discusses the stage of capitalism predicted by Marx and discusses this according to conflict theory. The paper also analyzes the situation from the point of view of the dominant class, as well as the oppressed worker.

From the Paper:

" Review Essay on "Modern Times, Ancient Hours" Introduction The context for the current struggle between labor and capital is globalized capitalism. While the capitalist dominant class regards this as the phase of mature capitalism, the oppressed worker perceives it as capitalism at fever pitch and out of control in its perfect alignment with globalization. Normally, the experience of work is presented in localized North American terms. Basso (2003), however, is concerned with international trends, and especially with trends in Eastern Europe after the fall of socialism. He points out the complex pathology in society: the paradoxical coexistence of unemployment with overwork."

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