Unit 1 Understanding Globalization PDF

Understanding Globalisation UNIT 1 UNDERSTANDING GLOBALISATION* Structure 1.0 Objectives 1.1 Introduction 1.2 Meaning and Features of Globalisation 1.2.1 Phases of Globalisation 1.2.2 Types of Globalisation 1.2.3 Digital Globalisation 1.3 Theories of G...

Understanding Globalisation UNIT 1 UNDERSTANDING GLOBALISATION* Structure 1.0 Objectives 1.1 Introduction 1.2 Meaning and Features of Globalisation 1.2.1 Phases of Globalisation 1.2.2 Types of Globalisation 1.2.3 Digital Globalisation 1.3 Theories of Globalisation 1.3.1 Hyper Globalists 1.3.2 Sceptics 1.3.3 Transformationalists 1.4 Globalisation and Sovereignty 1.5 Criticism 1.6 Let Us Sum Up 1.7 Some Useful References 1.8 Exercises 1.0 OBJECTIVES In this unit, you will be reading about globalisation. After going through this unit, you should be able to: Explain the meaning of globalisation; Discuss different views on it; Explain its phases and types; Examine relationship between globalisation and sovereignty; and Critically comment on globalisation. 1.1 INTRODUCTION The word ‘globalisation’ has become a buzzword popularized by media since late 1980s. After first appearing in the 1960s, the term ‘globalisation’ has often been described variously as a process, a condition, a system, a force, and an age. Globalisation is a complex and multi-dimensional concept which covers areas like politics, economy, society and culture, and technology. It is not a single process but a combination of processes which could overlap and be contradictory at times. That is why; globalisation cannot be reduced to a single theme. Some of the phenomena often associated with globalisation are: classical liberal or free market policies, superiority of western (or even American) forms of political, economic, and cultural life (westernization or Americanization), spread of new information technologies (Internet Revolution) and lastly, the trend towards global integration which means that the world is becoming a unified community without *Dr. Raj Kumar Sharma, Academic Associate, Faculty of Political Sciences, IGNOU, New Delhi 15 Globalisation: Conceptions major social conflicts. It is because of the wider impact of globalisation on various and Perspectives areas that this concept is being vigorously debated. 1.2 MEANING AND FEATURES OF GLOBALISATION A number of scholars have tried to define globalisation focusing on different aspects of this concept. According to Anthony Giddens, globalisation refers to ‘intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa’. Jan Aart Scholte has argued that globalisation leads to growth of ‘supraterritorial’ relations among people around the world as ‘transborder’ connections make territorial boundaries irrelevant. David Harvey defines it as ‘time space compression’. According to David Held, globalisation ‘may be thought of as a process (or set of processes) which embodies a transformation in the spatial organization of social relations and transactions - assessed in terms of their extensity, intensity, velocity and impact - generating transcontinental or interregional flows and networks of activity, interaction, and the exercise of power.’ These definitions include interaction between local, national and international level and shrinking of time and space due to technological advances in communication and transportation leading to growing interconnectedness among people around the world. It is important to mention that globalisation does not mean subordination of local and national to global but it only facilitates an interaction between these three levels. There are five features that can be associated with globalisation. One, it leads to deterritorialization, meaning the geographical borders become less relevant as internet and media bring the world to our homes. The happenings in one country are immediately transmitted to other countries through TV and online news. Second feature is interconnectedness. Due to blurring of geographical borders, there is growing connectivity between the actors at local, regional and global level. For example, the Islamic State of Iraq and Syria (ISIS) used online media and social networking sites to allure youths from all over the world to its cause. Young recruits sitting at their homes have been in contact with their bosses through internet which has been facilitated by growing interconnectedness between them by forces of globalisation. The popular image of globalisation is that it is a top- down process where a single global system is being established. Here, globalisation is linked to homogenization as political, cultural, economic and social diversity is being destroyed in favour of uniformity (globalisation from above). However, there is also a shift towards indigenization as western consumer goods and images have been absorbed into more traditional cultural practices (globalisation from below). Third feature is speed, as people, information, goods and services are travelling at an intensified speed which accelerates social activity. Fourth feature of globalisation is that it is a long-term process. Experts agree that globalisation is not a contemporary phenomenon as its features have existed since humanity itself, although they disagree when exactly globalisation started. Lastly, globalisation is a multi-pronged process as it impacts areas like politics, economy, culture and technology at the same time. There are two views about what leads to globalisation. According to George Ritzer, the materialist view believes that capitalism in general or the multinational 16 companies are the main factor behind globalisation. In contrast, the ideal view says that globalisation is a result of changes in thinking and ideas, information Understanding Globalisation and knowledge. In terms of thinking, there is a shift from local and national to global. Our knowledge base has also become global in scope. However, Ritzer argues that globalisation is a result of both material and ideal factors. 1.2.1 Phases of Globalisation Economist Adam Smith never used the word globalisation but it is a key theme in his book, Wealth of Nations. His description of economic development has as its underlying principle the integration of markets over time. As the division of labour enables output to expand, the search for specialisation expands trade, and gradually, brings communities from disparate parts of the world together. The trend is nearly as old as civilisation. Features of globalisation have existed since long but academicians still debate about the starting point of globalisation. Here, there are three points of view. The first view says that globalisation is a historical process that has occurred in cycles. Second group also believes that globalisation is a historical process but it is linear not cyclic while the last group believes it is a new phenomenon. A G Hopkins in his book, Globalisation in World History has talked about four phases of globalisation in history. First is archaic globalisation which occurred before the era of industrialization and rise of modern nation states. This type of globalisation was brought about by agents like tribal leaders, seafaring merchants and land traders. They helped in expansion of European and American hold over world economy. Next phase is proto-globalisation, a period between 1600 and1800 when state system emerged. The globalizing agents in this phase were merchants and slave traders. From 19th century, the modern or the West-centric phase started which related to industrialization, imperial and colonial trends, science community and government organizations. The Post colonial phase began with the demise of colonialism in 20th century marked by emergence of supranational bodies. This phase is the result of political and business elites, immigrants and networking through Internet. M B Steger in his book, Globalisation: A Very Short Introduction, has given five phases of globalisation starting with pre-historic period between 10000 BC to 3500 BC. Next is pre-modern (3500-1500 BC), early modern period (1750-1500 BC), modern period (1750-1970) and contemporary system (1970 onwards). He says that distinguishable economic, social, technological and political factors in these periods have changed over time to bring about the present state of globalisation. Scholte believes that although globalisation is historical yet it is a linear process. He has argued for three phases of globalisation. The first phase began 500 years ago, second in the second half of 19th century while the last one started in 1960 and lasts till now. The last phase, according to him is absolute globalisation. It is not only the period of electronic communication, satellites, optic cables, television, internet, expansion of global markets, activities of international organizations which interfere in everyday life but also the period of ecological problems and efforts to find their solutions. Anthony Giddens believes that globalisation, as we experience today is not only new but revolutionary and direct in many respects. The world is spinning out of control and new technology also brings new risks. He argues that globalisation is multidimensional – as it has political, technological and cultural aspects. He also believes that globalisation is not a single but combination of many processes. 17 Globalisation: Conceptions Some experts have already started to put forward the idea of Globalisation 2.0. and Perspectives It means that the old western-dominated Globalisation 1.0, which had assumed the universality of one global culture, has passed. Globalisation 2.0 means the interdependence of several identities or cultures characterised by new forms of non-western modernity. China’s rise as an economic powerhouse and its model of development is seen in this context as it does not focus on democracy and human rights like the Western development model. 1.2.2 Types of Globalisation According to Andrew Heywood, the most significant forms of globalisation are economic, cultural and political. Economic Globalisation – It reflects the idea that no economy in the world is isolated today and there is an inter-locking global economy which has absorbed various economies around the world. Demise of Soviet Union acted as a catalyst for global economic integration as the last major block of countries were absorbed into global capitalist system. Economic globalisation has reduced capacity of national governments to manage their economies and to resist their restructuring along free market principles. Cultural Globalisation – This is a process by which images and information produced in one part of the world diminish cultural differences between individuals, nations and regions by entering the global flow. It has often been portrayed as the process of McDonaldization. However, culture may also constrain forces of globalisation instead of serving them as sensitivity towards local cultures is required to become a global business brand. Political Globalisation – This is evident from growing importance of international organizations which exercise transnational jurisdiction like the United Nations and European Union. Most of these organizations have come up in the post-1945 period. The inter-state emphasis of political globalisation distinguishes it from economic and cultural globalisation as they highlight the role of non state and market based actors. David Held has highlighted the military aspect of globalisation. He has defined military globalisation as “the process which embodies the growing extensity and intensity of military relations among the political units of the world system. Understood as such, it reflects both the expanding network of worldwide military ties and relations, as well as the impact of key military technological innovations (from steamships to satellites), which over time, have reconstituted the world into a single geostrategic space.” He argues that globalisation in military domain has been visible in geopolitical rivalry and imperialism of great powers, evolution of international alliance systems and security structures, emergence of world trade in arms with worldwide diffusion of military technologies and institutionalization of global regimes with jurisdiction over military and security affairs. For Robert Keohane and Joseph Nye, military globalisation entails “long- distance networks of interdependence in which force, and the threat or promise of force, are employed.” Manfred Steger has added one more dimension – ecological globalisation. He argues that there is an inexorable link between all humanity and the planet Earth. The Industrial Revolution has caused many ecological problems, including, 18 resource and food shortages, overpopulation, reduced biodiversity, pollution, Understanding Globalisation and climate change. All these problems are global — the result of aggregated human action — and require a coordinated response. However, there are still debates about the seriousness of ecological issues, and, whilst progress has been made, few multilateral measures have been implemented. This phase of globalisation has been severely damaging to the environment, and action is needed now to save future generations from negative impact. George Ritzer has added other dimensions like religion, science and sports. He opines that most of the world religions like Islam and Christianity are global in scope and often seek to expand their global scope. Science has become a global enterprise as its knowledge base is formed by inputs from many parts of the world and that knowledge is virtually disseminated everywhere. Sport has become global through major organizations involved in globalisation of sports like football, tennis and golf. 1.2.3 Digital Globalisation Where is globalisation headed tomorrow? We are entering a new, digital-driven era of globalisation, which is sometimes described as ‘Globalisation 4.0. The present phase of globalisation was facilitated by the onset of the Third Industrial Revolution. The era of internet and rapid transport and communication dawned in the 1980s. People and businesses were connected; by pressing a button on computer, millions of dollars could be transferred from one end to anther of the world. E-banking and e-commerce began. What is more, internet allowed further global integration of value chains. From the sourcing of raw material to manufacturing and final consumption all became integrated. In the year 2000, global exports had reached a staggering one-fourth of the global GDP. Trade, the sum of imports and exports, consequentially grew to about half of world GDP. Yet another wave of globalisation is upon us. The new frontier of this round of globalisation is the cyber world. The digital economy has now arrived through e-commerce, digital services, 3D printing. Technologies of the Fourth Industrial Revolution, Artificial Intelligence (AI), robotics etc are the enablers of this latest wave of globalisation. One cannot escape the effects of the technological progress unleashed by the Fourth Industrial Revolution. How this wave of globalisation powered by the technologies of the Fourth Industrial Revolution, works out is the story for the next decades. How this round of globalisation evolves and how new technologies will shape the economies and trade, politics and culture is a subject for study and analysis for the next several decades. Meanwhile, the reaction against globalisation and its consequences is also part of the present phase. Among the left liberal political circles, there is an acknowledgement that globalisation has not benefitted all; rather it has left many behind. Rising inequality, social instability, cultural tensions, global warming etc are the legacy of globalisation. There is a global mood to fight against the ill- consequences of globalisation. Some want to reject it in toto. Conservatives who until the other day championed globalisation are also turning away from it. In US, UK and several countries in Europe, there is reaction against immigration. It is said that immigration of people who belong to different ethnic and religious communities poses a threat to the national cultures. Economic protectionist and 19 Globalisation: Conceptions nationalist tendencies have become strong in US and elsewhere; it is said that and Perspectives other countries have taken undue advantage of liberalized trade and immigration system in the US, UK and other countries. As a result, there is spread of sentiments against globalisation both in the left-liberal and conservative political circles; and some are turning away from it. Globalisation as an ideological political perspective seems to be on the wane in the West. Support for globalisation is now coming from China, India and other emerging economies. Emerging economies are of the view that integration into the global economy is a historic trend. The solution is not to reject economic globalisation; rather to make it inclusive and equitable. Check Your Progress Exercise 1 Note: i) Use the space given below for your answer. ii) See the end of the unit for tips for your answer. 1) What is meant by globalisation and what are the causes behind it?......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 2) Explain the concept of digital globalisation.......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1.3 THEORIES OF GLOBALISATION Being a deeply controversial subject, there are three main perspectives on whether globalisation is happening or not. There is a sense that the pro- versus anti- globalisation debate is no more than a revision of the older and familiar debate between capitalism and socialism since globalisation has a free market orientation. However, this debate is new in the sense that it recognizes the fact that there are no viable alternatives to market structures and the choice is between neoliberal globalisation and regulated globalisation. 1.3.1 Hyper Globalists The first wave of globalisation theory is called ‘hyper’ globalist account of the economy as it indicates that national economies have become less significant due to increased role of capital mobility, economic interdependence and multinational companies. The proponents include Francis Fukuyama (End of History), Thomas Friedman (World is Flat) and Kenichi Ohmae (End of the Nation 20 State). They argue that political restrictions on movement of money have Understanding Globalisation decreased due to technological changes like computerization of financial transactions. They believe that the current phase of globalisation spells doom for nation-states as it leads to “denationalization” of economies. That means the national boundaries will become irrelevant with respect to economy and the national governments will have to facilitate connections among and between different parts of the world through supranational organizations such as European Union. This means that economic changes are leading to political and cultural changes. Nation states tend to have lost their power, influence and even sovereignty as they have to design their policies keeping in mind the needs of mobile capital. This has implications for social democracy and welfare state as they are downsized to give more space to business interests. This also leads to decline in national culture as people around the world consume global culture. Politically, nation states give way to international organizations such as the UN and International Monetary Fund (IMF). Hyper globalists believe that transnational, global forces lead the way ahead of nations in terms of economy, politics and culture. 1.3.2 Sceptics The second wave is associated with the sceptics who believe there is little new about globalisation and its impact is being exaggerated for political reasons. Its main proponents include Paul Hirst and Grahame Thompson (Globalisation in Question: The International Economy and Possibility of Governance). Karl Marx had pointed out the international character of capitalist organizations in mid-19th century. Sceptics see globalisation not as a revolutionary technological and economic force but as an ideological tool used by theorists and politicians to further the interests of corporate. They opine that there is evidence to show continued role of nation states at the national and international level. In cases of the core (developed world), states continue to be powerful in North America and Europe. There has been resurgence of nationalism as old nations come under stress from globalisation. Sceptics also argue that national identities have a history which holds the popular imagination and global culture cannot replace national culture. Economically, sceptics have said that globalisation has not been received evenly everywhere and there is differentiation in its spread. For instance, countries in Sub-Saharan Africa are much less integrated with the global economy compared to powerhouses like East Asia and Europe. Poverty and inequality in many parts of Africa has increased due to globalisation. Culturally, sceptics say different nations respond to globalisation differently. McDonalds may have spread across the globe but it has to use ingredients in its dishes according to local customs. (For instance, they make shrimp burgers in Japan and kosher burgers for its Jewish customers). The analysis of sceptics leads to conclusions that stress aspects like power, inequality, conflict and importance of nation states. 1.3.3 Transformationalists The third wave consists of transformationalists whose position lies between hyper globalists and sceptics as they paint a complex picture of globalisation where it is seen as happening but without sweeping away everything with it, as argued by globalists. David Held and Anthony McGrew (The Global Transformations Reader: An Introduction to the Globalisation Debate), Anthony Giddens (Runaway World) and Ulrich Beck (Risk Society) are main supporters of this 21 Globalisation: Conceptions argument. According to them, national economic, political and cultural forces and Perspectives are being transformed to share sovereignty with other entities due to problems like environment, drugs, crime and developments in international transport and communication. Global inequality has moved away from core-periphery binary to a three tier structure that also includes a middle group of countries in Asia and Latin America which have seen significant growth to be more integrated in global economy. Politically, the nation state is no more self-governing, autonomous unit and authority is more diffused. States are seen as activists and their power is not diminished but is being reconstituted. In cultural domain, national culture like films, food, religion and fashion is so infused with inputs from international sources that national culture is no longer distinct from global culture. The table below summarises the three theoretical perspectives on globalisation. The three perspectives are slightly modified and are called Globalist, Traditionalist and Transformationalist. Check Your Progress Exercise 2 Note: i) Use the space given below for your answer. ii) See the end of the unit for tips for your answer. 1) Explain the Hyper globalist view on globalisation?......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1.4 GLOBALISATION AND SOVEREIGNTY In general sense, sovereignty means the absolute authority a state holds over a territory and people as well as independence internationally and its recognition by other sovereign states as a sovereign state. This definition includes internal and external aspects of sovereignty. Internally, the state is the supreme authority within its territory which makes laws and commands obedience from its citizens. It also has the authority to punish offenders and has monopoly over use of force. Externally, the sovereignty of a state should be recognised by other states to ensure territorial integrity. This ensures equality among different states in international relations and also ensures there is no external interference in the domestic affairs of a state. However, forces of globalisation exert pressure on sovereignty of states in a number of ways like erosion of sovereignty, increasing role of non-state actors, sub-national groups and different types of trans-national flows. Well known Japanese business strategist, Kenichi Ohmae argues that the nation state may be still a player in global politics but it has lost its capacity to control its national economy. This has led to rise of region-state which comprises of communities situated across borders based on a regional economic centre. He argues that it is the market which determines who belongs to and who has been excluded from citizenship. He says that notion of citizenship without market has no meaning. 22 He further argues that the modern nation-state itself—the artefact of the eighteenth Understanding Globalisation and nineteenth centuries—has begun to crumble. Giddens agrees by saying that nations have lost the sovereignty they once had, and politicians have lost their capability to influence events. The era of the nation-state is over, according to him. David Held has given five areas where globalisation undermines sovereignty - hegemonic powers and power blocks, the world economy, the end of domestic policy, international organizations and international law. With rise of security blocs like North Atlantic Treaty Organization (NATO) and Collective Security Treaty Organization (CSTO), there are clear cut restrictions on foreign and security choices that can be exercised by the member states. In the world economy, organizations like IMF, World Bank and the multinational corporations apply certain pressures on state governments. IMF and World Bank want state governments to restructure their political and economic aspects before seeking assistance from them. Such developments have reduced the space for nation states to formulate their domestic policies. In the international organizations, there are new forms of collective decision making which involves states, inter- governmental organizations and even transnational pressure groups further restricting sovereignty. Lastly, recognition of human rights in international law can come in conflict with national governments who do not respect human rights and could even invite humanitarian intervention from the international community. The other dimension of sovereignty relates to internal supremacy of the state over all its individuals and groups. This monistic or Austinian understanding of sovereignty is already coming under stress due to globalisation. Pluralists argue that internal sovereignty of state will be more diffused between the state on one hand and civil society and the rights of federating units on the other hand. The technical advances like mobile phones and internet are making citizens active and shifting power from the state to civil society groups. One can say that these developments recast the role of institutions associated with state. This means that globalisation is not eroding sovereignty but transforming it. The sovereignty mainly resides in the state but it can also be located in multiplicity of actors beyond the state like the World Bank, IMF and European Union etc. Globalisation tends to undermine the state capacity to maintain its boundaries and exercise sovereignty; yet in the near future, territorial state will remain a reality. Paul Hirst argues that a world economy with a high degree of trade and investment is not necessarily a globalized economy and in such a system nation states have a crucial role to play especially in providing governance of the economy. He further observes that so long as nation-states remain important, sovereignty would remain relevant, although its role and manifestation has altered. Check Your Progress Exercise 3 Note: i) Use the space given below for your answer. ii) See the end of the unit for tips for your answer. 1) How does globalisation undermine sovereignty?.................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 23 Globalisation: Conceptions and Perspectives 1.5 CRITICISM Globalisation leads to entrenched forms of inequality giving rise to winners and losers. In 2018, Oxfam reported that the 26 wealthiest individuals in the world had a combined wealth equal to that of the bottom 50 percent of the world’s population, or about 3.8 billion people. Poor are also taxed more: only 4 cents in every US dollar of tax revenue comes from taxes on the wealthy. In the game of globalisation, industrially advanced countries in Europe and the US have been the winners while the losers are the developing and least developed countries where wages are low, regulation is weak and production is oriented towards global rather than domestic markets. This leads to north-south divide as the industrial development is concentrated in northern hemisphere (developed countries) while disadvantage and poverty are mainly found in southern hemisphere. After the global financial crisis of 2007-08, a new term has become popular – deglobalisation. Attributed to Walden Bello, deglobalisation signals rollback of globalisation as trade and investments between countries decline. He further argues that it is not a synonym for withdrawing from the world economy but transformation of global economy from one integrated around the needs of transnational corporations to one integrated around the needs of peoples, nations, and communities. US President Donald Trump’s policies and Brexit suggest that there is increasing trend towards deglobalisation resulting in nationalism. There is rise of nationalist sentiment around the world due to a number of reasons that range from economic hardships, issues with mass immigration to a desire for change. Globalisation is associated with increased risk and uncertainty as highlighted by Andrew Heywood. Ulrich Beck has talked of a risk society where tradition, community and established institutions are weakened leading to increased individualism. As all the fixed points are undermined, it raises questions over people’s basic identity and values. Globalisation also is seen as a catalyst for environmental crisis. By emphasising mass production, profit and consumerism, globalisation exerts pressure on environment. Achieving state action to tackle climate change has become difficult as it involves sacrifices and could impede economic growth as well. Globalisation also has negative impact on democracy. By concentrating economic and political power in the hands of transnational corporations, democracy empowers them to escape democratic control. They have the capacity to relocate production and capital from one country to another and as a result, developing countries may not be in a position to influence their decision making. Another cause of concern is that the pace of economic globalisation is faster than political globalisation. Economic activity does not give any attention to national borders but politics continues to operate within national borders while the international institutions of economic governance like IMF and World Bank are too weak to hold global capitalism to account. Noam Chomsky has criticized neo-liberal globalisation dominated by the US and its economic interests. Such globalisation, says Chomsky, is largely sponsored by the US and is designed to further its interests as well as those of American corporations and the “haves” within the US, not the masses. He also argues that neo-liberal globalisation does not enhance, but rather undermines democracy as it enhances the power of the interlinked corporate and state leaders who exert 24 control over the economy, and much else, without being answerable, accountable Understanding Globalisation to the people. Privatization, “reduces the arena of potential democratic choice” according to Chomsky. 1.6 LET US SUM UP Globalisation is a complex and multi-dimensional concept which covers areas like politics, social, economy, culture and technology. It is not a single process but a combination of processes which could overlap and be contradictory at times. That is why, globalisation cannot be reduced to a single theme. There are two views about what leads to globalisation. The materialist view believes that capitalism in general or the multinational companies are the main factor behind globalisation. In contrast, the ideal view says that globalisation is a result of changes in thinking and ideas, information and knowledge. Some experts have already started to put forward the idea of Globalisation 2.0. It means that the old western-dominated Globalisation 1.0, which had assumed the universality of one global culture, has passed. Globalisation 2.0 means the interdependence of several identities or cultures characterised by new forms of non-western modernity. China’s rise as an economic powerhouse and its model of development is seen in this context as it does not focus on democracy and human rights like the Western development model. Forces of globalisation exert pressure on sovereignty of states in a number of ways like erosion of sovereignty, increasing role of non-state actors, sub-national groups and different types of trans-national flows. David Held has given five areas where globalisation undermines sovereignty - hegemonic powers and power blocks, the world economy, the end of domestic policy, international organizations and international law. One can say that these developments recast the role of institutions associated with state. This means that globalisation is not eroding sovereignty but transforming it. The sovereignty mainly resides in the state but it can also be located in multiplicity of actors beyond the state like the World Bank, IMF and European Union etc. 1.7 SOME USEFUL REFERENCES Beck, Ulrich. (1992). Risk Society: Towards a New Modernity. London: Sage. Giddens, Anthony. (1999). Runaway World: How Globalisation is Reshaping our Lives. London: Profile Books Ltd. Held, David & McGrew, Anthony. (2003). The Global Transformations Reader: An Introduction to the Globalisation Debate. Cambridge: Polity Press. Heywood, Andrew. (2007). Politics. Hampshire: Palgrave Macmillan. Hirst, P. & Thompson G. (1999). Globalisation in Question. Cambridge: Cambridge Polity Press. Ritzer, George. (2010). Globalisation: A Basic Text. Sussex: Wiley Blackwell. Scholte. J.A. (2005). Globalisation: A Critical Introduction. New York: Palgrave Macmillan. Steger, Manfred B. (2003). Globalisation – A Very Short Introduction. Oxford: OUP. 25 Globalisation: Conceptions Scheuerman, William. (2014). Globalisation. In Stanford Encyclopaedia of and Perspectives Philosophy. Retrieved from http://www.bibme.org/citation-guide/apa/website/ Vinod, M. J. & Deshpande, M,. (2013). Contemporary Political Theory. New Delhi: PHI Learning Private Ltd. Thompson, G. (2000). Economic Globalisation? In D. Held (Ed.). A Globalizing World? Culture, Economics, Politics. London. NY: Routledge. The Open University.     1.8 ANSWERS TO CHECK YOUR PROGRESS EXERCISES Check Your Progress Exercise 1 1) Your answer should include following. Definitions of globalisation by David Held, Anthony Giddens and J A Scholte. Materialist and Ideal view on occurrence of globalisation. Check Your Progress Exercise 2 1) Your answer should include following. Views of Francis Fukuyama, Thomas Friedman and Kenichi Ohmae. Denationalization of economies. Decline in national culture. Check Your Progress Exercise 3 1) Your answer should include following. Erosion of sovereignty, increasing role of non-state actors, sub-national groups and different types of trans-national flows. David Held’s five areas where globalisation undermines sovereignty. 26