Time Space Compression

Time Space Compression:

Retrieved from http://it.stlawu.edu/~pomo/mike/timespac.html

"This one world, works increasingly faster, leading to the common understanding in Wall Street that 24 hours is a very long time in the world of international finance (Harvey). This is especially true considering that in one second, a bank computer can switch millions of dollars from one national currency to another in response to a slight fluctuation in exchange, and in the process gain millions of dollars out of nothing. This serves as a prime example, and almost the culmination, of the capitalist dream of ever-shortening turnover time. For the production process can be bypassed and spatial barriers skipped altogether via electronic banking systems which profit off of speculation."