Golden Age Of Capitalism

In Globalization: A very short introduction chapter 3 and 4 was about economic globalization and political globalization. Economic globalization is the intensification and stretching of economic connections across the globe. Therefore, economic globalization leads to the growth of a global marketplace or single world market. With the help of technology economic globalization have encouraged trade in goods and services. In addition, created new connections among national and regional economies. However, before economic globalization have become what is it now it was about the economic powers of the “global north reversing their protectionist policies and expanding international trade” (pg.38) that happening at the end of World War 2 at Bretton Woods. At …show more content…
Which are the international monetary fund which was founded to manage the international monetary system. Which is later known as the world bank, that was originally intended to provide loans, numerous industrial projects in developing countries around the world. The second international economic organization is General agreement on tariffs and trade was produce for the global trade organization charged with contrive and impose multilateral trade agreements. The third new international economic organization is World Trade Organization that was central point of intense public controversy over the design and the effects of economic globalization (pg. 39). The Bretton Woods system launch to establishment of what some people have called the golden age of control capitalism. However, the Bretton woods system collapsed that lead to the new global economic order that wanted a free market that had no government intervention, the eliminate tariffs and other barriers of trade. However, the consequences of the new global economic order have increase the gap between the wealthy and