Abstract:
The transformations of capitalism since the 1970s, driven by the advent of new information
technologies and neoliberal globalization, have removed border limits, allowing a process of
financialization of the global economy. This reorganized global value chains, favoring the
financial sphere and the corporate core in central countries, while shifting production to
peripheral countries, forming a global industrial reserve army. The transfer of the productive
network to the Global South decoupled imperialist countries from direct production, allowing
them to specialize in finance and advanced technologies. This shift in search of cheaper labor
leveled wages at a reduced level, directly impacting labor relations worldwide, while promoting
the concentration of wealth in the speculative financial sphere. Capitalist globalization, by
intensifying specialization in sectors of comparative advantage, perpetuates global inequality
and exacerbates social and economic conflicts, as its mode of operation does not absorb the
entire available workforce. These changes allow the gradual inclusion of impoverished labor,
which is subjected to worse working conditions, while directly impacting the average worker's
income, feeding the centralization of wealth and economic polarization.
