The Problem: Multinational Corporations

no picture Founder and President of The Space Between the Notes; Founder and Editor-in-Chief of The Onism Journal
Jennifer Boyd
Member since August 22, 2016
  • 14 Posts

Source: Egypt Geo

Source: Egypt Geo

Globalization and the influx of multinational corporations into developing countries are detrimental to the well-being and dignity of their poor inhabitants. Multinational corporations only ostensibly improve the quality of life of the poor by providing them with accessible employment opportunities. To maximize corporate profitability, multinational corporations often neglect the morality of their work policies and their long-term impact on the poor in countries such as Honduras and Vietnam. These companies aim to satisfy their affluent shareholders. They often prioritize their own economic advancement rather than the safety of their workers. An unfathomable number of exploited workers in developing countries are not paid a living wage. These workers often struggle to feed themselves and their families, as a living wage is not always equivalent to a country’s minimum wage.

Meanwhile, middle-class members of developed and industrialized countries, benefit from globalization and the work of multinational corporations. Workers in developing countries receive exceptionally low wages. The market prices of their produced goods are comparatively low. The prices of t-shirts, sneakers, and cellphones are negligible compared to the arduous work that goes into their production. Only the wealthy and middle class can afford to buy these goods.

In the long term, globalization exacerbates the problem of climate change. For example, the e-waste epidemic facilitated by the prodigal and rampant consumerism will worsen unless immediate precautions are taken. All of humanity will be impacted by the gravity of the affluent's choices.

Because globalization concentrates the finite amount of capital into the hands of the elite, those with corporate and shareholder power become even wealthier as they conduct business with other nations. The poor are excluded from the financial security which the wealthy classes enjoy. As a result, the impoverished struggle to escape from their destitution and remain stagnant in their social development. A modern day caste system is produced.

Nevertheless, anyone can take advantage of the multiplicity of resources provided by the internet. The worldwide web is a tool which symbolizes globalization itself, and it proves to be a powerful vehicle of social change and activism. Once everyone is aware and educated about the circumstances and systems which ground the poor, people can unite and work synergistically to create a more promising tomorrow for all of humanity.

comments powered by Disqus