• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Modernity and its Futures (SC311): What is meant by Globalisation?

Extracts from this document...


Modernity and its Futures (SC311): What is meant by Globalisation? Globalization is on everybody's lips; a fad word fast turning into a shibboleth, a magic incantation, a pass-key meant to unlock the gates to all present and future mysteries. For some, globalization is what we are bound to do if we wish to be happy; for others, globalization is the cause of our unhappiness.1 Globalisation is a fervidly contested and often misunderstood concept. It has occupied and divided economists, sociologists and anti-capitalists alike. Anti-globalisation protestors have regularly and successfully picketed World Trade Organisation summits as part of their stand against the might of globalisation. However since globalisation this has taken a number of different forms, it is difficult to discuss in a general way or isolate an apparent definition. Conversely when the term is used it is tends to be in relation to three forms. Some use the term when referring to the economic integration of the world but others use it on a cultural and political level. This can be distinguished by the growing awareness that they are members of the human race that inhabit one world. The term globalisation is often used in the sense to refer to the growing integration of societies across the world. It can be seen as a process by the world is to be transformed into a single global system. The word globalisation first came into use towards the end of the 20th century. ...read more.


This is another way nations sovereignty in economic, social and political affairs for member states. Political sociologists are often concerned with a number of issues arising out of globalisation that include the erosion of the Nation state, ecological problems and ethnic problems. Supporters of globalisation are said to wish to turn the world into one big global market.7 As a result, it is argued that globalisation seems to be weakening the power of individual countries to control their own destinies, and major decisions are made on a global level. The influence of national governments is reduced. For instance several advanced countries in the OECD (Organisation for Economic Cooperation and Development-mainly Western European countries, plus Canada, Japan and the USA) have had responsibility for determining national interest rates over to their Central Banks, thereby abandoning national capital controls and eliminating the formal barriers between domestic and international markets. A dramatic illustration of ecological problems posed by globalisation was the explosion in 1986 at the Chernobyl nuclear power station in the former Soviet Republic of Ukraine. The consequences were not foreseeable but were felt as far as Cumbria, England. The explosion provides an example of the way globalisation is producing what Ulrich Beck (1992) calls a 'world risk society', in which the survival of the planet is threatened by technological developments.8 However natural hazards such as floods, hurricane and volcanoes threatened people in the past, according to Giddens the risk environment, which now confronts us 'is structured mainly by humanly created risks.'9 ...read more.


Definitions of globalisation are twofold, which range from optimistic views of an emerging world order that is based on universal values of consensus. Conversely there are pessimistic view, which concentrates on the negative aspects such as ecological disaster, cultural standardization and ethnic wars. If one were to take a stance on globalisation one would agree with the work of the linguistic Noam Chomsky. His work has been admired throughout the academic world has at time aroused mixed-feelings, especially his assaults on the American government and foreign policy. Chomsky's predictions about the world under globalisation are neither optimistic nor pessimistic. However he "recognises the scale of injustice and inequality that economic globalisation and US government cause."13 He has come to this conclusion by analysing many statistics, which come from a variety of sources. He states that under globalisation, most of the profits go to the elite groups, which are American investors and American MNCs. For Third World countries, involvement in globalisation, in particular through free trade and rescheduling of debt, has had disastrous effects as it makes it impossible for them to pay off their debts to the IMF and World Bank. For the world in general, globalisation has yet to bring higher standards of living. Indications so far are that it will not do so. Global capitalism is orientated towards short- term profits that benefit only a few. Chomsky's belief that global capitalism is more focussed on the privileged individuals than on the benefit for the community as a whole, emulates my own. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level UK, European & Global Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level UK, European & Global Economics essays

  1. "What do sociologists mean by the term 'Globalisation' and how have they tried to ...

    division of labour between the mining and agricultural workers in the Third World and manufacturing and service workers in the colonial countries. They both argue that the division will most probably remain this way. However, Giddens argues that the world is "becoming more united" through globalisation.

  2. Corruption and Globalisation - Both of them have been so pervasive in recent years. ...

    There are three main causes of globalisation that can be easily identified: i.e. deregulation, technical innovation, and the emergence of both regional and global trading blocs. Globalisation is a process that encourages the interactions of people in different countries, and economic globalisation is an important part of globalisation.

  1. Where does the World Trade Organisation fit in the overall scheme of international public ...

    members of the "international community". It is this unconditional embrace of global governance that is both glib and illiberal. Unfortunately, the record of most international organisations and other mechanisms of intergovernmental collaboration since the Second World War has been one of ad hoc bureaucratic intervention in markets, often exacerbating misguided government intervention at the national level.

  2. To what extent has globalisation been benefical to China's economic growth?

    in demand respectively from China, which have pushed world prices, especially copper, dramatically. Trade liberalisation is vital to any economy that seeks to become a global power. In theory, free trade makes the world a richer place, as businesses and countries seek to be competitive, they must move forwards by

  1. Discuss Globalization.

    The Peace of Westphalia of 1648 formally recognized the principles of territorial sovereignty, each party to the treaty agreed to honour the boundaries of the others and to refrain from interfering in their internal affairs. It's claimed that globalization is assaulting this national sovereignty.

  2. A Study of Globalisation - A study of multinationals and their effect on our ...

    labour rights, national sovereignty, the third world, and other various aspects of our everyday lives as human beings' (Graeber 2002). It is common knowledge that globalisation and free trade can affect developing countries negatively, however, the worlds most developed countries and the people who live within them are also affected negatively.

  1. How the process of Globalisation might have affected the position of labour in industrialized ...

    Table 1 World Trade9 There are thousands of debates about who gains and who loses from this trade, from this openness. Moreover, this question is being split into 2 sub-categories, I would say, into 2 sub-questions: do industrialized/developed countries lose or gain?

  2. This article review is done for the course of Trends in Global Marketing Strategies. ...

    or horizontal (common customers, technology, channels) relationships. They usually tend to be concentrated on geographically. Porter says that once the cluster forms, the whole group of industries becomes mutually supporting and the benefits flow forward, backward and horizontally in the cluster.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work