Transnational Informational Capitalism and the Advent of Globalization

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Transnational informational capitalism
The transnational informational capitalism best represents the changes in the society, whereby technology has made it easier to process as well as transmit information. The informational capitalism has increasingly transformed societies and defined sources of power and productivity (Fuchs 102). Information technology influenced productive forces, and this has facilitated the growth of a globalized economy that is more dependent on high-tech capitalism more than ever before (Fuchs 102). The transnational information capitalism is based on maximizing profits and minimizing costs through exploitation of the inequities in the global economy.
Knowledge economy is a common feature of the contemporary societies, whereby the information societies have relied more on knowledge for transformation. In any case, the network society has highlighted on the role of information technology in improving interaction. Networks have gained more prominence, since societies use networks for production purposes as well as a source of power that influences culture (Fuchs 100). It is possible that capitalism has been the major factor influencing the changes in networks, as they are the foundations of many organizations (Fuchs 100). It is noteworthy that one of the features of the network society is that there has been institutionalization of networks in the societies to the extent that they have a direct impact on relationships and human organizations.
The role of information technology and computer networks is valuable to transnational network capitalism. The network system has made it easier to accumulate capital at a time when technology helps capitalists to rely on global communication networks to facilitate coordination (Robinson 20). The capitalist form of production has been transformed by widespread use of information technology in the society, since this has enabled the capitalist structure to transform cu...