Can Market be Truly Global?

Examples of Finance and Fashion

Business & Finance, Industries & Professions, Industries
Cover of the book Can Market be Truly Global? by Johannes Lenhard, GRIN Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Johannes Lenhard ISBN: 9783656184461
Publisher: GRIN Publishing Publication: May 7, 2012
Imprint: GRIN Publishing Language: English
Author: Johannes Lenhard
ISBN: 9783656184461
Publisher: GRIN Publishing
Publication: May 7, 2012
Imprint: GRIN Publishing
Language: English

Essay from the year 2012 in the subject Sociology - Economy and Industry, grade: 2:1, London School of Economics, language: English, abstract: The recent economic and financial crisis seems to give an easy answer to the question whether markets can be truly global. How is it possible that German municipalities go bankrupt because they bought American mortgage papers other than by the force of a truly global market? The world is flat (Friedman, 2007) - so markets can not be anything but global. However, as we will try to show in this essay, bold statements as well as seemingly bold questions such as 'Can a market be truly global' need to be treated with caution. What does it mean to be 'truly global'? What after all is a 'market'? It is those issues that need to be addressed first. The paper will afterwards demonstrate the case of two examples of markets, namely fashion and finance. Analysing the globality of those very different types, we will try to show that it is firstly important to be attentive in regards to different parts of markets: for example, does the consumption side in the particular fashion market analysed seem to be much less global than the production side. It is secondly important to consider non-economic parts of the market when judging the degree of globalness: the seemingly global foreign exchange market in finance for instance is indeed very much 'embedded' into both social and material contexts which makes it what is called a 'global hybrid' below. It is nationally grounded but trades globally. The exemplary discussion of fashion and finance will afterwards be contextualised with a more general critical section illuminating the arguments of Marxists and sceptical school thinking before we come to a conclusion.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Essay from the year 2012 in the subject Sociology - Economy and Industry, grade: 2:1, London School of Economics, language: English, abstract: The recent economic and financial crisis seems to give an easy answer to the question whether markets can be truly global. How is it possible that German municipalities go bankrupt because they bought American mortgage papers other than by the force of a truly global market? The world is flat (Friedman, 2007) - so markets can not be anything but global. However, as we will try to show in this essay, bold statements as well as seemingly bold questions such as 'Can a market be truly global' need to be treated with caution. What does it mean to be 'truly global'? What after all is a 'market'? It is those issues that need to be addressed first. The paper will afterwards demonstrate the case of two examples of markets, namely fashion and finance. Analysing the globality of those very different types, we will try to show that it is firstly important to be attentive in regards to different parts of markets: for example, does the consumption side in the particular fashion market analysed seem to be much less global than the production side. It is secondly important to consider non-economic parts of the market when judging the degree of globalness: the seemingly global foreign exchange market in finance for instance is indeed very much 'embedded' into both social and material contexts which makes it what is called a 'global hybrid' below. It is nationally grounded but trades globally. The exemplary discussion of fashion and finance will afterwards be contextualised with a more general critical section illuminating the arguments of Marxists and sceptical school thinking before we come to a conclusion.

More books from GRIN Publishing

Cover of the book Communities in the 21st Century - Fact or Fiction by Johannes Lenhard
Cover of the book Ignatiev and the 'Race Traitor Journal' - How Realizable is his Theory? by Johannes Lenhard
Cover of the book Impact of deforestation on medicinal plants in Ghana by Johannes Lenhard
Cover of the book Advertising in Poland and Germany - A Comparison by Johannes Lenhard
Cover of the book Europäisches Wasserrecht - Die Gewässer in Rechtsvorschriften der Europäischen Gemeinschaft by Johannes Lenhard
Cover of the book Constitutions in Transition - Tendencies in European Constitutional Law after the Fall of Communism by Johannes Lenhard
Cover of the book Asset Backed Securities - A solution for financial management in International Corporates? by Johannes Lenhard
Cover of the book La fusion por absorcion by Johannes Lenhard
Cover of the book Ethics and Airbus by Johannes Lenhard
Cover of the book Do political parties still have a role to play in American elections? by Johannes Lenhard
Cover of the book Ecological concerns and their collective realisation in Ernest Callenbach´s 'Ecotopia' by Johannes Lenhard
Cover of the book Entwicklung eines SOA orientierten Prototypen für eine komplexe Schnittstellenlandschaft im Verlagsumfeld mittels der SAP PI by Johannes Lenhard
Cover of the book A Troika of perceptions. The influence of Bush, Powell and Rumsfeld on the Creation of the USA Patriot Act of 2001 by Johannes Lenhard
Cover of the book Examine the representation of the relationship between language and power inSouth African Literature by Johannes Lenhard
Cover of the book The Representation of Gender-Specific Conversational Behaviour in Informal Talk by Johannes Lenhard
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy