Introduction to Globalization

Introduction to Globalization

• Globalization is important because it is a part of our daily life in this contemporary generation
• Increased globalization has lead to increased competition between nations, accelerated by communication and computer technology
• Globalization is the process of countries becoming more intertwined and interconnected
• Globalization can be described as the "shrinking and flattening of the world," due to ease of travel and communication
• Some argue that globalization is the second industrial revolution, creating a new world system

Definitions and Perspectives of Globalization

• Globalization can be defined as the widening, deepening, and speeding up of worldwide interconnectedness in the social life
• There are varying perspectives on how to conceptualize globalization

Hyperglobalist Perspectives

• Hyperglobalist believe that globalization is happening, and that local cultures are being eroded, primarily through expansion of international capitalism
• They believe globalization is a positive trend, characterized by economic growth, increasing prosperity, and the spread of democracy
• Hyperglobalists believe that globalization defines a new era in which people are increasingly subject to disciplines within the global marketplace
• Hyperglobalists argue that traditional nation-states are becoming less influential
• They argue that the power of global corporations will continue to rise
• They believe that the world is becoming increasingly homogeneous due to globalization

Sceptic Perspectives

• Sceptics argue that globalization is not a recent phenomenon, and is simply just an intensification of existing processes
• They do not believe globalization is eroding national sovereignty
• They do not believe that global capitalism is homogenizing cultures
• They believe that the power of nation-states remains intact
• They emphasize the role of nation-states in regulating the global economy
• Sceptics believe that globalization is a means of furthering the national interest

Transformationalist Perspectives

• Transformationalists argue that globalization is a significant change in the organization of world affairs
• They believe globalization is a process of reconfiguration of power, and the role of nation-states is being redefined
• They argue that globalization is a process of change that is not yet fully understood
• They believe there are numerous benefits and costs associated with globalization