ABSTRACT
The new economic design called globalization is the latest attempt of capitalism to establish its sovereignty. Implementation of capitalism on a broader scale has also helped us to understand the consequences created by the capitalist system. Income distribution among and within countries worsened, and poverty became more widespread. The greenhouse effect caused by carbon emissions due to excessive consumption of petroleum, has resulted in melting of the polar icecaps, changes in the course of the Gulf Stream and change in climate. As the ozone layer thins, the world is deprived of its protective shield. These developments engendered two political movements: the first being the wars to establish control over the world's natural resources, and the second being terrorism. As rich capitalist countries kept on their race to establish control over the world's natural resources, poor countries came to the conclusion that resorting to terrorist measures was the only way they could preserve their existence.
