Globalization 2 - Joe Kao 2/12/10 Professor Schalow...

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Joe Kao 2/12/10 Professor Schalow Discussion Sheet #2 The capitalist economy we live in today plays a large role in globalization. This free market economy, or Neoliberalism, began to globalize in the 1980’s under U.S. President Ronald Reagan and British Prime Minister Margaret Thatcher. With the collapse of communism, Neoliberalism seemed to conquer the old economy, based on regulation, in many countries. In chapter three of Steger’s book, “Globalization,” the effects of the economy towards globalization are discussed. Furthermore, the free market economy can be applied to perhaps the most well- known event across the globe, the Olympic Games. The economic aspects of the Olympics are discussed in Susan Brownell’s article, “The Beijing Olympics as a Turning Point? China’s First Olympics in East Asian Perspective.” The Olympics were brought back in 1894 with the goal to unify the nations and create peace. However, the global popularity of the Olympics that developed over the years allows corporations to make billions of dollars through advertisements,
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Globalization 2 - Joe Kao 2/12/10 Professor Schalow...

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