A look at the great potential of globalization and multinational capitalism and the changes that need to be made for this potential to be realized.
This paper looks at the development of multinational and global capitalism and how various global systems have become increasingly essential to its orderly progression. The writer shows how, in order to meet these specific needs it has become necessary to reorganize the manner by which many global standards address certain criteria with regard to structural content. The factors include currency, accounting, labor, corporate formation and the stock exchange and it is shown that if not properly engaged, the concepts of multinational and global capitalism will not reach their full potential.
“As a means by which to implement new structure proposals for labor standards, one first needs to consider how the inherently related issues of race and gender play a role in this reconfiguration. It can be argued that if global capitalism is to flourish, it must do so with the inclusion of every individual, not just those who are deemed worthy. Issues of primary concern embody a number of gender- and race-related problems that — if not somehow corrected — will only serve to undermine the very objectives of global capitalism. “Too many labor leaders are still caught up in the mythology of the new deal programs of yesteryear rather than divorcing themselves from partisan politics that are destroying labor; rather than fighting exportation of capital and redistribution of public wealth and power; rather than fighting workplace racism and race-based politics that divide workers; rather than developing and moving a labor agenda” (Caffee, 1995, pp. 7-10).”