Commodification & Globalization Essay Example | Topics and Well Written Essays - 1500 words

Commodification & Globalization - Essay Example Technology has transformed our world in such a way that words like national identity, local news, local economy, local culture and isolated catastrophe or calamity are fast becoming meaningless. Though Globalization has been defined by many in their own perspectives for political, traditional and intellectual motives, we will only consider the popular understanding of globalization. Packaging, pricing, marketing and ultimately selling something that was never a sellable commodity is generally known as a process of commodification. Commodification has its roots in the far spread capitalism around the world. Capitalism according to a popular belief (Gamble, 2001), is one of the ramifications of globalization. The phenomenon of commodification mines the commonly found objects, ideas, resources, culture and experiences in our daily lives and creates a monetary value for the previously un-commoditized entity. Such a process triggers a hunt for entities that can be commoditized since it en tails profits. In a capitalist world where the accumulation of wealth is prevalent, such a hunt can mean exhaustion of minable entities for commodification. Exhaustion of commoditize able resources is succinctly outlined by Jeremy Rifkin (2001), If the capitalist system continues to absorb large parts of the cultural realm into its sphere in the form of commodified cultural products, productions, and experiences, the risk is very real that the culture will atrophy to the point where it can no longer produce enough social capital and thus support an economy (p. 245). Online Multiplayer Gaming over the internet is fast becoming a commodity of a globalized world. Though internet experience in itself is a commodity but socializing over the internet via chat rooms, voice chat, social networks and emails has not been a commodity for some years now. The online multiplayer gaming today is charged from pay per hour to pay per year payment models. There exist more clever ways of commodifying the gaming experience that we will look into detail in the coming paragraphs. The commodity harvesters of the internet economy are quickly realizing the money making potential of Social Gaming, the internet games that involve players from around the globe. The very core of internet gaming experience involves real human interaction where the players may know each other; this adds a social dimension to the mix. The growing trend in size of internet gaming, amount of time people spend playing such games and lastly the viable business model that backs any internet application, are major factors that has helped commodification grow in online multiplayer gaming world. Advertisement is an essential step in commodifying something. One such example can be land commodification in over populated countries like China (Xu et. al, 2009), where masses are implanted with a dream of owning a lavish house at attractive locations thus creating a hyped value for irrigable or unused land which otherwise has a lesser value. Such a concept when applied to online multiplayer games, yields astounding value for otherwise a very cost technology. A comprehensive example that has stretched the concept of commodification and globalization to its maximum is called â€Å"Second Life†. The game has its own economy that runs through a currency known as â€Å"