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Level of Analysis

  • Global

Matrix of Oppression

4. Neocolonialism - Low wage worksites may be globally dispersed and simply linked to the center via communications technologies. Ex: NAFTA; U.S has the strongest leverage, then Canada, and lastly, Mexico.

1. Race - Anglo-European

elites tend to dominate the most influential financial and policy-making arenas.

2. Gender - Women are

hardly to be seen. Predominantly male, decision makers are characterized by masculine terms: they hold University degrees, work with words and numbers, and speak English.

3. Class- Identities

favored in the "Community heights" of global finance are those of national; and international elites; especially professionals and executives.

3 Modes of Virtual Economy

Bibliography

Connection to TU

2. "The exchange of knowledge, information, or "intellectual capital" (Dunning 2010 [2000],8)."

1. Peterson, V. Spike. 2010.The Virtual Economy.

In Women's Lives: Multicultural Perspectives, edited by Gwyn Kirk and Margo Okazawa-Rey,420-441. New York: McGraw Hill Press.

2. Bradshaw, Jamie. "Branded Trailer."

Branded, 2012. http:///www.youtube.com/watch?v=HInOg12jMiY.

3. Dunning, J.H. 2010[2000]. Regions, Globalization, and the Knowledge Economy: The issues stated. In Regions, Globalization, and the Knowledge-based Economy, ed. John H. Dunning. Oxford: Oxford University Press. Pp. 7-41.

4.Drucker, P. 2010 [1986]. The Changed World Economy. Foreign Affairs 64, 4: 768-791.

3 Modes of Virtual Economy

  • Information and knowledge are not subject to the same time and space constraints associated with material commodities

3 modes of Virtual Economy

3 Modes of Virtual Economy

Electronic signals move around the world, however, the electronic transmission of knowledge knows no territorial boundaries.

1. Financial globalization is virtual in the sense of the symbolic nature of money;the object being traded.

3 Modes of Virtual Economy

  • Money is used as means of exchange, store of wealth, or standard of value.
  • "World money" that circulates today's financial markets are being separated from the "real" economy of goods and services.

"..exchange rates and interest rates - which are key to business decision-making, public policy-making, and hence everyday lives worldwide - are increasingly determined by financial trading on world markets (Cerny 2010 [1996],130; Held et al. [1999], 189)."

Questions of the Day

3 Modes of Virtual Economy

V. Spike Peterson

  • Feminist scholar of international relations
  • Professor in the Department of Political Science at the University of Arizona

3. Emphasizes symbolic goods in consumerist and more post-modern terms, as a political economy of signs.

Peterson's "Two Cents" about the Virtual Economy

3 Modes of Virtual Economy

Analyses of global economy must acknowledge/address:

1.The new scale and velocity of cross border transactions

2. The nature of these transactions and effects on more conventional forms of exchange

  • Emphasizes that an increased consumption of goods is economically beneficial

BRANDED

How many of you have seen this commercial?

What can you gather from this commercial?

The Virtual Economy

Jenny-Lynn Bernardo

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