Which one of the following is a consequence of globalization according to Harvey (1992)?
A)The financial system has achieved an unprecedented degree of autonomy from real production,becoming dominated by an economy of signs representing capital flow,rather than an economy of things.
B)The instantaneous representational possibilities afforded by new communication technologies enabled the globalization of capital flows.
C)The globalization of financial markets collapses time,creating instantaneous financial transactions in loans,securities and other innovative financial instruments.
D)all of these

Question

Quizplus · Accepted Answer

Harvey (1992) discusses the impacts of globalization on the financial system, emphasizing how it has become more autonomous from real production and is now more about the flow of capital represented by signs rather than tangible goods. He also highlights the role of new communication technologies in enabling the globalization of capital flows and the way they have collapsed time, allowing for instantaneous financial transactions. Thus, all the options provided are consequences of globalization according to Harvey.

Which One of the Following Is a Consequence of Globalization