Global capitalism refers to an economic system where production, trade, and investment operate on a global scale, driven by multinational corporations, international markets, and the pursuit of profit. Sociology students study global capitalism to understand how it shapes societies, deepens inequalities, and transforms work, culture, and power relationships across the world.
Key features include:
Transnational corporations (TNCs) that dominate global trade.
Global supply chains and outsourcing of labour to low-wage countries.
The weakening of nation-states’ control over their economies.
The spread of consumer culture and market values worldwide.
Increased inequality between and within countries.
Sociologists examine how global capitalism affects workers, communities, and the environment, and how it creates a global elite—sometimes referred to as the transnational capitalist class—that benefits disproportionately. It also raises questions about exploitation, resistance, and the future of democracy in a market-driven world.