The world has gone through a transition of world-systems over the past few centuries. From feudalism to socialism and from socialism to capitalism, the world experimented with many political and economic systems. Capitalism evolved from Europe and is now an economic system followed by even the third-world countries. Waller-stein has enumerated the characteristics of ‘modern-world-capitalist-system’. These characteristics state the positive points as well as the drawbacks of modern capitalist system. By seeing things with a rational approach, it will become obvious that the modern man has no better option than striving for a single world-system, namely, Capitalism.
By bringing the underdeveloped nations in the mainstream world-economy, the developed nations can play a positive role. By dealing with the shortcomings in the ‘modern-world capitalist system’ this wide economic gap between the developed and third-world countries can be bridged. As intercultural communication has increased, trade alliances are benefiting all partners alike. This has also heightened the demand for translation companies.
With human rights organizations playing their role to eliminate low wage labor, modern-world-capitalism is far less threatening than the already discarded world-systems. It is undeniable that a ceaseless accumulation of capital is the driving force of our New World-system, but there is always some room for reformation in any political or economic system. The world has become a global village, where different political and economic systems will prove to be a hindrance in development. Therefore, a single world system is the need of the hour. An translator working for The Marketing Analysts Translation Services Company maintained that the developed nations are heavily investing in the underdeveloped regions, e.g, Africa and some parts of Asia.
With the trend of global enterprises increasing with every passing day, it is evident that the underdeveloped nations will also claim their due share in the modern-world-capitalist-system. We need to understand that the previous world-systems equally exploited some segments of society. It isn’t easy to decide which system exploited people more than others. But it will be interesting to notice here, that all these world-systems failed for having many loopholes and were replaced by the modern-world-capitalist system.
Today even the most underdeveloped nations are part of the investment plans of global companies. In the African continent alone, thousands of jobs have been created so far due to foreign investments on a large scale. Today’s world-system has something to offer to everyone, notwithstanding their religion, ethnicity, caste or creed. As cross-cultural communication has reached its peak, the need for reputed translation agencies like The Marketing Analysts Translation Services is increasing.