Globalization Is A Term For International Affairs And The Global Economy

Globalization, a contested concept among leading theorists in its definition, chronology, and measurement of effects, is almost certainly of a multidimensional nature if such theorists’ perspectives are all taken equally into consideration. The broad phenomenon of globalization can therefore be scrutinised more closely by separation and analysis of individual dimensions, such as its political, economic, cultural and ecological dimensions. This approach, while allowing for a more focused examination of the causes and effects of globalization within a single dimension, serves to highlight the interconnectedness of each dimension. The following essay will expose the complex interconnection between the political, economic and cultural

“Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world” (The State University of New York, 2014, para 1).

Globalization has been a process underway for hundreds, if not thousands, of years. From the Roman Empire, to caravans on the Spice Road, to the Transatlantic Slave Trade, the process of connecting the globe in an interdependent web has been underway for a long time. Today, it seems that this process has been quickly accelerated. Since the end of World War II and the rebuilding effort that followed it, global development has increased at an intense rate fueled by transnational corporations, the World Bank, and the International Monetary Fund. These multilateral organizations have transformed our global economy and reshaped our society.

Globalization is one of the most discussed and controversial terms in modern history, while many people believe free trade drive global economic growth, create jobs, and lower prices for consumers. Contrary, others argue global cooperation mainly abuse, underpaid their employees lastly benefits from tax havens. Regardless of someone’s personal view, globalization is an ancient and profound system based on international strategies of which economic, political, and sociocultural relations are interconnected across long geographical boundaries. This Integration occurs as technological advances simplify and facilitated the trading of goods and services, the flow of capital, and migration of people across the globe. Lughod Provides a comparative

Globalization is the process by which different societies and cultures integrate through a worldwide network of political ideas through transportation, communication, and trade. Generally, globalization has affected many nations in various ways; economically, politically, and socially. It is a term that refers to the fast integration and interdependence of various nations, which shapes the world affairs on a global level. Simply put; globalization is the world coming together. In this essay I will discuss multiple perspectives on globalization through the analysis of these three sources.

Although the first use of the term ‘globalization’ can be traced back to the 1940s, it was only after half a century that this concept stormed the public consciousness. The buzzword ‘globalization’ exploded into the ‘Roaring nineties’ because it captured the increasingly interdependent nature of social life on this planet. Earlier the concept of globalization was viewed as a techo-economic juggernaut spreading western culture and the intellection of capitalism and quashing local beliefs and national traditions. Thus, it was viewed as a ripple of Americanization. One corollary of the propagation of this perspective created fears in the minds of people, who had utter love and affection towards their own culture.

During the last decade of the twentieth century, the word ‘globalization’ has become an increasingly prominent feature of political, social, and economic discussion in academic and policymaking circles, as well as in the media. The processes and outcomes of globalization drew attention and debates that had one thing in common. The research shows that nearly everyone agrees that globalization is a trend that is changing the face of the world, and as a result the world society lives in a more ‘globalized’ world. Nearly two and a half decades passed since 1990s, and studies have been conducted to examine the causes and consequences of globalization. Moreover, nearly every person experiences some type of globalization and can testify firsthand the effects it has on their life, society, and the state. The analysis of the effects that globalization dynamics have on the world society indicates that globalization has a significant positive impact via spreading opportunities and wealth across nations, stimulating innovation and productivity, enhancing the economic development of poorer countries, and helping to improve living standards.

Globalization: The process of social, political, economic, cultural, and technological integration among countries around the world (Luthans & Doh, 2012).

The theory of globalization today is a field of intensive debate as the efforts towards defining globalization most often highlight its individual aspects. According to Held and McGrew (1999), “globalisation is an idea whose time has come, yet it lacks precise definition”. Despite the ambiguity of the term “globalisation,” the use of the term, according to Held and McGrew, reflects increased interconnectedness in political, economic and cultural matters across the world creating a shared social space. Given this inter-connectedness, globalisation may be defined as: “a process which embodies a transformation in the spatial organisation of social relations and

‘Globalization: What’s new? What’s not? (And so what)’, portrays the speed in which globalism has increased through many different factors; economically, military, environmentally and socially. This is an idealist analytic approach, not set in stone. This leads on to

The concept of globalization is a complex and peculiar one, failing to be definable by a single, precise definition. Centrally, globalization involves information and goods being exchanged amongst different countries. These interactions and interchanges among countries globally over time is due to an increase in communication and transport networks. Globalization is often divided into three main areas being economic globalization, cultural globalization and political globalization. All three are vital areas to one’s life and globalization is said to have a large impact on each. Although globalization is controversial in the aspect that it cannot be declared just how much of an influence the notion has in the world. Political scientists such as Muhammad Ijaz Latif, Anton Pelinka and Martin Wolf all discuss this issue in their respective pieces as well as differing aspects of globalization such as the role the European Union plays in relation to globalization, the different perspectives of globalization and the challenges of the nation-state in regards to globalization.

We all use the term globalization but what is globalization? Globalization is both a process and a theory. A man by the name of Roland Robertson, who is linked closely to globalization theory, views globalization as an accelerated compression of the contemporary world and the intensification of consciousness of the world as a singular entity. Compression makes the world a single place by virtue of the power of a set of globally diffused ideas that render the uniqueness of societal and ethnic identities and traditions irrelevant except within local contexts and in scholarly discourse. It is the world being transformed into a global village. Today because of globalization there is a worldwide integration, technological revolution, increase trade among nations, reduction of cultural barriers, increase environmental protection and a spread of democratic ideas.

In an article by authors, Lechner and Boli, globalization is described as having a different level of significance to each individual. The authors then provide a definition for globalization as referring to, “the process by which more people across larger distances become connected in more and different ways.” (Lechner and Boli) While globalization can be seen as both a beneficial and an unbalanced process, it is obvious that it has created diffusion and a greater sense of world consciousness. Interconnections across the world are increasing through the time-space compression that globalization creates. This process occurs through each form of globalization working together.

The theory of globalization today is a field of intensive debate as the efforts towards defining globalization most often highlight its individual aspects. According to Held and McGrew (1999), “globalisation is an idea whose time has come, yet it lacks precise definition”. Despite the ambiguity of the term “globalisation,” the use of the term, according to Held and McGrew, reflects increased interconnectedness in political, economic and cultural matters across the world creating a shared social space. Given this inter-connectedness, globalisation may be defined as: “a process which embodies a transformation in the spatial organisation of social relations and

Globalization is a process of increasing integration and the result of economic, cultural and political interdependence among countries. Globalization has been a controversial debate, since this phenomenon has affected the world in several ways. Consequently, there are plenty of economic, cultural and political arguments in favor of and against it. Some arguments in favor of globalization are that it promotes democracy, creates jobs (by dividing labor around the world), promotes knowledge and an interconnected world, and makes the world “borderless.” On the other hand, others argue that