Topic: Events from 18th century such as industrial revolution, world wars, redrawal of national boundaries, colonization, decolonization, political philosophies like communism, capitalism, socialism etc.- their forms and effect on the society.
2)The global capitalist system’s periphery and semi-periphery is economically, politically, and militarily subordinate to its centre. Critically comment.(250 words)
Why this question
This is a general socialism vs capitalism question demanding a sharp understanding and clear opinion on the issue. The twist here is the focus on the present global capitalist system rather than the historical narrative. The question is related to GS-1 syllabus under the following heading-
Events from 18th century such as industrial revolution, world wars, redrawal of national boundaries, colonization, decolonization, political philosophies like communism, capitalism, socialism etc.- their forms and effect on the society.
Key demand of the question.
the question wants us to dig deeper into the present globalist capital system and see how it is related to the peripheral and semi-peripheral bodies ( countries, international and regional organizations/ bodies/ unions). we have to present a personal opinion on the given statement.
Directive word
Critically comment- we have to form an opinion on the issue/ statement and give justifications in support of our opinion. But we also have to see the other side of the question and highlight the blessings of capitalist system, particularly the present global capitalist system.
Structure of the answer
Introduction– give a general description of present global capitalist system and their spread- e.g google, amazon, facebook, Apple, Alibaba, Samsung, Lockheed martin, adidas, etc.
Body- divide the body into main parts. Take the help of the comprehensive article attached as the link.
- discuss the economic share of such corporations in the world economy and highlight the unequal distribution of revenue and difference in labour wages between central ( America, Europe, China) and peripheral economies (most of developing and underdeveloped world.
- Discuss their power to shape and alter political decisions in the peripheral countries and how they have shaped the global military conflicts and weaponization programmes.
Conclusion– Form a personal opinion on the given issue and mention the good points about capitalism and reasons why it is still surviving and more accepted than socialism.
