Globalization has emerged as a buzzword in a number of disciplines in recent years. The most recent wave of globalization is characterized by an increase in economic deregulation, privatization, structural adjustment policies, finance flows, global public debates, immigration, multiculturalism, and the technology revolution. In this paper, the author examines how globalization has had an impact on the Argentine movement of recovered factories based on its specific context and background. The author's research in Argentina locates the workers' opposition to global hegemony in a historical, structural, and cultural context. The recovered factory movement arose around the time of economic collapse and is directly related to neoliberal reform. The local community works within a new neoliberal framework, but creates an entirely new niche that in many ways contradicts the neoliberal policies by which the workers survive. The author looks at how the workers' movement is in part an adverse reaction to the neoliberal ideology that pervades, but also contributes towards reproduction of the neoliberal model. The purpose of the author's analysis is to look at how globalization has played out in the local community. The author found that the recovered factories are a localized response to global changes. In most instances, the factories were formed out of pressing need rather than out of ideological opposition to these global changes. She stresses that the movement of recovered factories exemplifies the potential to form an alternative system that is within, but not against, the capitalist system. A number of themes in the debate on globalization and anthropology are highlighted in the movement of recovered factories. While globalizing forces are present throughout the world, the manner in which they develop are case specific. One can conclude that the movement of recovered factories is an important manifestation of the current ambiguities of the process of globalization. (Contains 41 notes.)