Capitalism as a System of Global Power

Abstract

In arguing that globalization has uncovered the truth about people & their environment, this chapter analyzes the explanatory features of the "Foucauldian notion of power" & its contribution to the globalization of the economy. It is argued that neoliberalism presents a universalized discourse based on the ideology that (contrary to liberal beliefs) a wealthy society will benefit all. Thus, globalization affects each individual by influencing the manner in which all people view & identify themselves. In addition, neoliberal discourse views globalization as uniquely tied to capitalism when states become commodified & a "market discipline" or "governmentality" emerges. Governmentality affects the global market & the individual, producing not only the individualization supported by Smithian theories, but also the normalization of consumer culture. In short, it is obvious that the individual as consumer, worker, & saver is an essential component of global capitalism. K. A. Larsen