A technological modernisation (from the mid-twentieth century to the present). The contemporary mode of modernisation, often referred to as globalisation (see Chapter 1), is marked in economic terms by the increasing intensive power of transnational corporations TNCs) to control patterns of trade and investment and therefore influence the nature of the urban economic structure in many Third World states Technological modernisation in Third World creates only a limited number of jobs, given the capital-intensive nature of the industries. Even much of the resulting indirect employment is generated in the core countries or for expatriates working locally. Industry is increasingly incapable of meeting the growing local demand for work, meaning that in Third World cities a high proportion of the people have neither stable employment nor income. The lack of job opportunities in the modern sector for most urban dwellers has resulted in the growth of a large number of small-scale activities in the Third World city. Another impact of globalisation, the spread of information through the mass media, has had a major impact on consumer preferences through an international demonstration effect or Cocacolonisation". This tends to raise the general propensity to consume, thereby acting as an obstacle to capital formation and development, and can also reduce demand for local products in favour of imported goods. The presence of a mass of people with very low wages or depending upon casual work for a living, alongside a minority with high incomes, creates different patterns of consumption in urban society.