1Capitalism and Culture The Acceleration of Globalization since 1945 The Transformation of the World Economy After World war II, things became very different. The capitalist victors led to conflict in the United States. In 1944 New Hampshire set an agreement and institution that laid the foundation for postwar globalization. Technology contributed to the growth in economic globalization. Shipping, oil tankers, and air expressed services lowered the transportation cost. Reglobalization Money and goods achieved global mobility in three ways. One way was "foreign direct investment". This investment exploded in 1960 after companies in rich countries took advantage of cheap labor, tax breaks, and looser environment regulations in developing countries. The second form was when money that was in motion had been the short-term movement of capital, in which investors annually spent trillions of dollars purchasing foreign currencies or stocks to increase...