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Global Capitalism and Classical Theory Paper

Added on - 20 Sep 2019

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RESEARCH PAPER[Document subtitle]
1IntroductionThis research paper is being developed in order to understand the connection between the variousattributes of the contemporary global capitalism and the classical theory. Further, the incident ofRana Plaza, Bangladesh has been taken to know the connection between these two aspects.Moreover,“Wage Labor and Capital” and “The Manifesto of the Communist Party” are used toapply on the important facet of the theoretical articulation on global capitalism and the throes oflabor and capital. The research paper is being written with the help of the secondary data i.e.search engine, articles and journals in order to know the impact of Rana Plaza incident on theglobal capitalism and how it affected developing and developed areas. Further, the Rana Plazaincident is explained in brief and the various initiatives which were taken by the organizations atthe national and international level for the victims of the Rana Plaza incident, Bangladesh. Thenthe Marx and Engels will help in understanding the relevant facets of the various articulations ofthe theory. Further, the causes of the Rana Plaza incident are given with respect to globalcapitalism and the theoretical perspective of Marx and Engels.Overview of the Collapse of Rana PlazaThe owner of the building Rana Plaza was Sohel Rana. There were various garment factories Ithat building like Mango, Joe Fresh, Cato, Dress Barn, etc. Further, there were various shops anda bank. There were approximately 5,000 employees who were working in that building. Themedia of the Bangladesh disclosed that there were various cracks in the building of the RanaPlaza the day before the incident and asked to vacant the building and close it down in order torestructure it. But the workers were threatened to work, and if they do not do so, then they willnot get their salary for a month. As a result, the building collapsed on April 24, 2013, and around2,500 workers were injured and around 1,200 workers died. And around 500 workers wentmissing(Murphy 2016).The table below shows the number of workers which were working in various shops andcompanies.
2The building was constructed in 2006, and the material which was used in the construction of thebuilding was not of great quality because there were various cracks in the building within theperiod of seven years. According to the information which was published in various articles andnewspapers was that most of the workers were traumatized, various fractures and thecompartmental syndrome. And as a result, they lost their hands and legs. The male workers weremore badly injured than the female workers, and it was very difficult for them to get back to thenormal lives. Therefore, most of the injured employees are now unemployed and are notphysically fit, and this is impacting their minimum standard of living.Initiatives Taken by Various Organizations for the Victims atNational LevelThere were various steps which were taken for the benefit of victims at the National level for theaspect of global capitalism, and the steps are as follows:The individuals and the various private organizations took an active part in the activitiesin relation to the rescue operation of the workers after the incident.There was the arrangement of compensation to the workers and the families of thedeceased by BGMEA, but around 2,500 families got the compensation and around 1,200families didn't get any benefit.BGMEA didn't even consider the families of the missing workers and those families gothelp from the Primark which was one of the buyers of garments.BGMEA had spent around 2crore on the treatment of the injured workers.There were various committees which were formed after the incidence in order to detectthe defects in the buildings of the factory in order to safeguard the lives of the workers.
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