You might have heard the term globalization used before, whether in an economics lecture or in a political debate. As the world grows more connected through the Internet and greater international trade, globalization is becoming more important — and more controversial — than at any other point in history. In this blog post, we look at the benefits, the downsides, and the interesting realities of globalization. What exactly is globalization?
More on This Story: Understanding Globalization The "globalization debate. Part of the reason for such varied viewpoints is linked to the fact that the term "globalization" means so many different things depending on who you ask.
The World Bankviewed as one of the major players in globalization, comments: Amazingly for so widely used a term, there does not appear to be any precise, widely-agreed definition. Indeed the breadth of meanings attached to it seems to be increasing rather than narrowing over time, taking on cultural, political and other connotations in addition to the economic.
More broadly, the term is even used at times as another name for capitalism or the market economy. But to limit our understanding of globalization to this definition is to ignore many of its other implications.
Hall and Sidney Tarrow suggest that Every era has concepts that capture the public imagination, and "globalization" has recently emerged as one for our time.
The term conveys a sense that international forces are driving more and more developments in the world, and thus crystallizes both the hopes of some people that we will finally achieve a global society and the fears of many others that their lives and jobs are threatened by forces beyond their control.
In addition to the political, economic, and cultural implications of globalization, supporters and critics alike also speak of the environmental, linguistic, and technological effects of globalization. If there is truly no sphere into which this trend does not reach, then it may be important to understand the many different things that are being said about globalization.
NOW has compiled a starting guide on the debate and some resources to help you go deeper. Note that although we have divided the following into pro- and anti-globalization viewpoints, very few of the writers stand firmly on one side of the issue.
Instead, many of these quotations are fraught with mixed feelings on the potential advantages and dangers of globalization.
Additionally, some critics complain that the very term "globalization" is too loaded with multiple meanings to hold any significance whatsoever. Discuss your thoughts on the topic. Pro-Globalization Anti-Globalization "Globalisation is generating great wealth.
This could be used to massively reduce poverty worldwide and to reduce global inequality We must try to manage this new era, in a way which Average real wages corrected for inflation have been falling since the early s. Byaverage weekly earnings in the private, non-agricultural part of the U.
Nearly one-fourth of the U. Growth, in turn, reduces poverty The anti-liberal critique is wrong: The social welfare system and other public services, such as schools, social services in the North and food subsidies in the South, are supported through taxes, and taxes reduce short-term benefits to capital.
And, you see, economic growth creates a middle class, and a middle class, eventually, demands democracy.Globalization is a multifaceted phenomenon which entails several economic, cultural, and political pros and cons.
Discover here the implications and arguments for and against globalization. Debate based on the Module " Do Nations Matter on a Global World? " from the LSE Course (The London School of Economics and Political Science). Published: Mon, 5 Dec Globalization is a modern phenomenon, which can be analyzed from various points of view.
Roughly, we might say that globalization is integration of regional economies, societies and cultures in a globe-spanning network of communication and trade.
Since globalization is only one of many factors affecting people’s lives, the dia- logues sparked broader debate on the role of the market in society and how the needs and aspirations of people can be expressed and met in their own com-.
Globalisation is a contested concept; there is no consensus on its context, causation, direction and impact. Uneven and unequal, it is affecting, directly as well as . Mar 26, · Globalization is one of the 21 st century’s most important political topics.
You might have heard the term globalization used before, whether in an economics lecture or in a political debate.
As the world grows more connected through the Internet and greater international trade, globalization is Author: Nick Gibson.
Anthony Giddens argues that the globalisation debate has moved on, from arguments about whether globalisation existed at all, to focus on the consequences of globalisation. Do you think that the definition of globalisation one uses affects the consequences one attributes to the phenomenon?