World Capitalist Economy and Globalisation

[@ishapurswani]

Thankyou so much ma’am for this amazing lecture! You explain everything briefly that it becomes easy to understand 😊 Looking forward to more lectures like this!!

[@surbhibhatia2037]

Individual capitalists are typically wealthy people who have a large amount of capital (money or other financial assets) invested in business, and who benefit from the system of capitalism by making increased profits and thereby adding to their wealth.

[@namratanamrata1678]

Capitalism: system in which the means of production and distribution are privately or corporately owned. Capitalism Characteristics: • private property •Capital accumulation •Wage labour • voluntary exchange • price system and competitive markets. Capitalism is form of commodity is not capitalism. Notion of profit connected the production of commodity. Commodity production is the production of goods for exchange or sale. History : emergence of agraria Capitalism: end of manorial system ,workers employed , expanding money-based economy, landlords and tenants to increase the productivity of agricultural to make profit. Thank you for the lecture ma'am ☺️

[@surbhibhatia2037]

Globalization and capitalism are popular terms used to describe the economy. Globalization is a general term that can be defined in many ways, while capitalism has a specific definition. ... Capitalism leans towards private ownership as opposed to government ownership. Capitalism is encouraged by globalization.

[@surbhibhatia2037]

By assuming the autonomy of the individual, capitalism grants dignity to the poor. By affirming people's right to their own labor, regardless of their position on the economic ladder, capitalism offers the poor the means to improve their own well-being.

[@SAVAGEHOOMAN]

I found it meaningful and informative. Please keep uploading. You are helping us.

[@surbhibhatia2037]

Free enterprise" can roughly be understood to mean economic exchanges free of coercive government influence. Although unlikely, it is possible to conceive of a system where individuals choose to hold all property rights in common. Private property rights still exist in a free enterprise system, although the private property may be voluntarily treated as communal without a government mandate. Many Native American tribes existed with elements of these arrangements, and within a broader capitalist economic family, clubs, co-ops, and joint-stock business firms like partnerships or corporations are all examples of common property institutions. If accumulation, ownership, and profiting from capital is the central principle of capitalism, then freedom from state coercion is the central principle of free enterprise.

[@surbhibhatia2037]

Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector. Capitalism depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital. Capitalism developed historically out of previous systems of feudalism and mercantilism in Europe, and dramatically expanded industrialization and the large-scale availability of mass-market consumer goods. Pure capitalism can be contrasted with pure socialism (where all means of production are collective or state-owned) and mixed economies (which lie on a continuum between pure capitalism and pure socialism).

[@surbhibhatia2037]

The advent of true wages offered by the trades encouraged more people to move into towns where they could get money rather than subsistence in exchange for labor. Families’ extra sons and daughters who needed to be put to work, could find new sources of income in the trade towns. Child labor was as much a part of the town's economic development as serfdom was part of the rural life.

[@surbhibhatia2037]

It was Adam Smith who noticed that mercantilism was not a force of development and change, but a regressive system that was creating trade imbalances between nations and keeping them from advancing. His ideas for a free market opened the world to capitalism.

[@surbhibhatia2037]

Functionally speaking, capitalism is one process by which the problems of economic production and resource distribution might be resolved. Instead of planning economic decisions through centralized political methods, as with socialism or feudalism, economic planning under capitalism occurs via decentralized and voluntary decisions.

[@surbhibhatia2037]

Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.

[@surbhibhatia2037]

Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

[@herehere5754]

Dhanyavaad

[@shivanand2534]

Awesome lecture madam 🙏🙏🙏🙏

[@studyindianlaw]

Doing well is the result of doing good. That's what capitalism is all about. ~Ralph Waldo Emerson

[@surbhibhatia2037]

All theories of globalization have been put hereunder in eight categories: liberalism, political realism, Marxism, constructivism, postmodernism, feminism , Trans-formationalism and eclecticism.

[@surbhibhatia2037]

Global capitalism is capitalism that transcends national borders. It is known as the fourth epoch of capitalism in recognition of the three periods or epochs that came before it.

[@surbhibhatia2037]

Capitalism is an economic system. In it the government plays a secondary role. People and companies make most of the decisions, and own most of the property. ... The means of production are largely or entirely privately owned (by individuals or companies) and operated for profit.

[@surbhibhatia2037]

If one were to refer to the unification of different national economies into a single global economy and the advent of free trade, globalization would be the more appropriate term to use. Conversely, if one were to support private ownership over government ownership, then one pertains to capitalism.

[@surbhibhatia2037]

Types of globalisation Political globalisation. Political globalisation refers to the amount of political co-operation that exists between different countries. ... Social globalisation. Social globalisation refers to the sharing of ideas and information between and through different countries. ... Economic globalisation.

[@surbhibhatia2037]

Financial Globalization. Economic Globalization. Technological Globalization. Political Globalization. Cultural Globalization. Sociological Globalization. Ecological Globalization. Geographical Globalization.

[@surbhibhatia2037]

The world economy is driven by saving/investment, trade, and innovation. ... India has chosen a wrong route to globalisation: its rate of saving is relatively low and falling, unemployment is high and rising, and its R and D effort is minuscule.

[@ishapurswani]

I believe capitalism is essentially about - Finding the best product to make Finding the best people and way to create those products and Finding the best people to sell those products So, when two nations figure that each has an advantage over the other in making a certain product, they exchange and everyone benefits. Capitalism is basically about finding this comparative advantage. Without comparative advantage, there would be no trade. Without trade, there would be no globalization! So yes, capitalization leads to globalization!

[@surbhibhatia2037]

Capitalism is an economic system characterized by private ownership and control of property, and determination of prices by the supply and demand for goods and services. The primary goal of capitalism is profit-making. Globalization in Economics Multinational corporations operate on a global scale, with satellite offices and branches in numerous locations. ... Outsourcing can add to the economic development of a struggling country, bringing much needed jobs. ... Some automobiles use parts from other countries. The intrinsic logic reveals two main types: Type 1 - material (or physical) globalization for commodities and specialties; Type 2 - immaterial (or financial) globalization for standards and convenience. The difference between these types is substantial. Economic globalization refers to 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.

[@ishapurswani]

India is being inexorably drawn towards globalisation by a part of its own capital, and an offshoot of its own society. The world economy is driven by saving/investment, trade, and innovation. India has chosen a wrong route to globalisation: its rate of saving is relatively low and falling, unemployment is high and rising.

[@surbhibhatia2037]

Private property promotes efficiency by giving the owner of resources an incentive to maximize the value of their property. So, the more valuable the resource is, the more trading power it provides the owner. In a capitalist system, the person who owns the property is entitled to any value associated with that property. For individuals or businesses to deploy their capital goods confidently, a system must exist that protects their legal right to own or transfer private property. A capitalist society will rely on the use of contracts, fair dealing, and tort law to facilitate and enforce these private property rights. When a property is not privately owned but shared by the public, a problem known as the tragedy of the commons can emerge. With a common pool resource, which all people can use, and none can limit access to, all individuals have an incentive to extract as much use value as they can and no incentive to conserve or reinvest in the resource. Privatizing the resource is one possible solution to this problem, along with various voluntary or involuntary collective action approaches.

[@surbhibhatia2037]

Capitalism grew out of European feudalism. Up until the 12th century, less than 5% of the population of Europe lived in towns. Skilled workers lived in the city but received their keep from feudal lords rather than a real wage, and most workers were serfs for landed nobles. However, by the late Middle Ages rising urbanism, with cities as centers of industry and trade, become more and more economically important.

[@surbhibhatia2037]

The purest form of capitalism is free market or laissez-faire capitalism. Here, private individuals are unrestrained. They may determine where to invest, what to produce or sell, and at which prices to exchange goods and services. The laissez-faire marketplace operates without checks or controls. Today, most countries practice a mixed capitalist system that includes some degree of government regulation of business and ownership of select industries.

[@surbhibhatia2037]

Capitalism and free enterprise are often seen as synonymous. In truth, they are closely related yet distinct terms with overlapping features. It is possible to have a capitalist economy without complete free enterprise, and possible to have a free market without capitalism. Any economy is capitalist as long as private individuals control the factors of production. However, a capitalist system can still be regulated by government laws, and the profits of capitalist endeavors can still be taxed heavily.

[@surbhibhatia2037]

A profit maximising capitalist firm is likely to ignore negative externalities, such as pollution from production; this can harm living standards. ... Therefore, capitalist society not only fails to create equality of outcome but also fails to provide equality of opportunity. Inequality creates social division.

[@surbhibhatia2037]

Private property rights are fundamental to capitalism. Most modern concepts of private property stem from John Locke's theory of homesteading, in which human beings claim ownership through mixing their labor with unclaimed resources. Once owned, the only legitimate means of transferring property are through voluntary exchange, gifts, inheritance, or re-homesteading of abandoned property.

[@surbhibhatia2037]

Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market-known as a market economy-rather than through central planning-known as a planned economy or command economy.

[@surbhibhatia2037]

A capitalist earns the highest profit by using capital goods most efficiently while producing the highest-value good or service. In this system, information about what is highest-valued is transmitted through those prices at which another individual voluntarily purchases the capitalist's good or service. Profits are an indication that less valuable inputs have been transformed into more valuable outputs. By contrast, the capitalist suffers losses when capital resources are not used efficiently and instead create less valuable outputs.

[@Krishna412kumar]

Please mam I know this is government platform despite of that i requested to you Please give lecture also in Hindi I also know you do lot of philanthropic work in education

[@johnmathew2343]

So please only in English mam ..it would be common to all

[@raviraajchoudhary2050]

Political science topic Hindi m explain kre PLZ..

[@shivamshakya464]

Plz mam Hindi m video ko discuss kigiye

[@sanjaybishnoi20]

plz upload for hindi midium student

[@raviraajchoudhary2050]

Hindi ka bhi khyal kro

[@surbhibhatia2037]

Individual capitalists are typically wealthy people who have a large amount of capital (money or other financial assets) invested in business, and who benefit from the system of capitalism by making increased profits and thereby adding to their wealth.

[@surbhibhatia2037]

Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.