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 Die Entwicklung des Vertrages über eine Verfassung für Europa by Johannes Lenhard
Cover of the book Kann die Mediation, als eine Methode der Konflktbewältigung, auch bei Mobbing greifen? by Johannes Lenhard
Cover of the book The Recovery of History as a Dialogic Process: The Role of Judith in David Bradley's 'The Chaneysville Incident' by Johannes Lenhard
Cover of the book The Role of the Family in Robinson Crusoe by Johannes Lenhard
Cover of the book Collaborative Planning, Forecasting, and Replenishment (CPFR) by Johannes Lenhard
Cover of the book Transformations and changes in contemporary Ukrainian femininity models by Johannes Lenhard
Cover of the book The theme of rape in Shakespeare's Titus Andronicus and Lucrece by Johannes Lenhard
Cover of the book Alienation in Richard Wright's The Outsider by Johannes Lenhard
Cover of the book Beautiful landscape, drinking and fighting. Stereotypes of the Irish abroad by Johannes Lenhard
Cover of the book Discourse Analysis in D. Lodge's Thinks by Johannes Lenhard
Cover of the book Historic and Ethnic Development of Ethiopia by Johannes Lenhard
Cover of the book Gravierende soziale Unterschiede in der Prävalenz degenerativer Gelenkerkrankungen by Johannes Lenhard
Cover of the book An Analysis of Adequate OECD Transfer Pricing Methods for Intangible Property by Johannes Lenhard
Cover of the book De- and Reconstructing Leadership by Johannes Lenhard
Cover of the book The Presentation of Gender in Diane Arbus´s Work in the Context of the Cold War Era 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