The Marxist theory of imperialism

The Marxist theory of imperialism

The Marxist theory of imperialism, when put in a simple definition, refers to the exchange of political favors for wealth by nations with intense political domination. Big corporations are using their vast cash reserves and political influence to manipulate the government in giving operation licenses and valuable considerations. The big corporations are known to have an undue influence over public policy, and this illegitimate power has made oversight over such companies to be next to impossible because they enjoy political protection.

According to Hodge (2019), globalization has hurt the health and well being of individuals in western countries (p. 25). These effects are a result of the foods the populations take, which are being sourced outside nations and not produced locally. When food has is transported over long distances, it needs to be preserved to maintain the ‘fresh’ state, which has necessitated the use of preservatives and genetically modifying chemicals. These chemicals remove the nutrition value of the food and make them harmful for consumption.

Globalization is based on the economic theory that enlarging the scope of trade can reduce costs. As a result, it has promoted importation of essential goods and services, which are be accessed at lower prices in other nations. This dependence on cheap imports, in my opinion, has made the local industries to be forced out of business, which has lead to the closing of local firms that dealt in the particular line of operation and people losing their jobs. As Hodge puts it, “Because globalization encourages countries to specialize their production, most now rely on imports even for even domestic needs.” (p. 23).