Understanding Globalization

• Globalization involves the spread of people, ideas, and goods, fostering interaction and integration across cultures, governments, and economies.
• It is driven by international trade, investment, and information technology, affecting the environment, culture, political systems, economic development, and well-being.
• The main point of globalization is growing worldwide connectivity.

Examples of Globalization

• Historical trade routes, like the Silk Road, exemplify early globalization.
• Since 1950 world trade has increased 20 times. Foreign investments have doubled from 1997 to 1999.
• Post-World War II trends include the adoption of free-market economies, advances in information technology, and growing economic interdependence.

Attributes of Globalization

• It creates new social networks and multiplies existing ones across traditional boundaries.
• It involves the expansion and stretching of social relations, activities, and connections.
• Intensification and acceleration of social exchanges occur.
• Globalization involves both objective, material aspects and subjective human thought and action.

Historical Periods of Globalization

• Pre-historic period: 10000 BCE-3500 BCE
• Pre-modern period: 3500 BCE-1500 BCE
• Early modern period: 1500-1750
• Modern period: 1750-1970
• Contemporary period: 1970 to present

Dimensions of Globalization

Economic Dimension

• This refers to the extensive development of economic relations across the globe due to technology and capital flow, stimulating trade in both sources and goods.
• Property rights are legal rights to own, use, and profit from resources like land and capital.
• Property law governs the ownership, usage, and protection of properties.
• Real property includes land and permanent structures.
• Ownership rights include the right to use, exclude others, transfer, and enjoy the property.

Regulatory Institutions

• These are independent bodies set by legislation to establish and enforce standards in specific fields, operating outside direct executive supervision.
• "Economic Institutions" are agencies collecting economic data or providing essential services, and established structures like markets and property rights.

Political Dimension

• Refers to the strengthening of political interrelations globally.
• State sovereignty regulates interstate relations. It is based on the exclusive power a state has over its territory and nationals.
• Intergovernmental organizations (IGOs) like the UN coordinate sovereign states on issues of mutual interest.
• The aim of IGO's is to promote peace, boost economies and reduce intergovernmental conflict.
• Globalization has reduced the power of states to enforce restrictive policies as the world becomes more borderless.

Cultural Dimension

• Refers to the increase in cultural flows worldwide, with cultural interconnections forming the base of contemporary globalization.
• Cultural globalization involves the transmission of ideas, meanings, and values across the world.
• Global culture is based on Western ideals like consumption.
• Individualism and consumerism are dominant cultural characteristics, spread by the internet.
• Hybridization is a constructive interaction between global and local characteristics.

Religious Dimension

• Religion can be central to global conflicts.
• Globalization forces the transformation of religion.
• Jihadist globalism is a religious response to perceived materialist threats.
• The aim is to install Islam by warring against non-Muslims.

Roman Catholic Teaching on Globalization

• The Catholic Church believes globalization can improve well-being but also has negative effects.
• The Church recognizes the economic benefits while voicing concern.

Ideological Dimensions

• Ideology is a system of shared ideas used to legitimize interests. It connects human actions.
• Globalization is a social process of intensifying interdependence. Globalism gives the concept of neo-liberal values.
• Globalism believes economic and foreign policy should be planned on a global basis rather than serving the interests of individual countries

Major Ideological Points of Globalism

• Globalization involves the integration of markets via political projects.
• Neoliberalism emphasizes free trade and reduced government spending.
• Globalists believe this spread is inevitable due to technology.
• The ideology tries to convince people to follow the markets rules if they want to prosper.
• This tries to depoliticize globalization debates.
• Globalists claim market liberalization leads to higher living standards.
• Opportunities are spread unequally and power/wealth are concentrated.
• Believing that globalists democracy and free markets is synonymous.
• This is politically motivated and works to stabilize existing power relations.