Lecture

• Globalization

  is the process in which people, ideas and goods spread throughout the world, spurring more interaction and integration between the world's cultures, governments and economies.
• 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.
• Globalization

   

  is about growing worldwide connectivity.
• There were similarities in features of those prevailing wave of globalization before the outbreak of the First World War in 1914 to the current wave. There is an increase cross border- trade, investment, and migration due to policy and technical developments in the past few decades. It is in the area of economic development that observers believe the world has entered a new phase. Today’s globalization is farther, faster, cheaper, and deeped in compared to earlier wave of globalization.
• What economic systems have many governments adopted since the Second World War?

  Free-market economic systems
• How have free-market systems affected governments' productive potential?

  They have vastly increased productive potential
• What opportunities have been created by free-market systems?

  New opportunities for international trade and investment
• What have governments negotiated to promote trade?

  Reductions in barriers to commerce
• What type of agreements have governments established to promote trade?

  International agreements
• What do these international agreements promote?

  Trade in goods, services, and investment
• How have corporations taken advantage of new opportunities in foreign markets?

  By building foreign factories and partnerships
• What is a defining feature of globalization?

  An international industrial and financial business structure
• One principal driver of globalization is technology. Economic life is dramatically transformed by advancement in information technology. All sorts of individual economic actors like consumers, investors, and businesses which are valuable new tools for identifying and pursuing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners are provided by information technologies.
• Globalization is the process of integration of economies across the world through cross-border flow of factors product and information (5). According to the International Monetary Fund (IMF) globalization is the growing economic interdependence of countries worldwide through increasing volume and variety of cross border transactions in goods and services and of international capital flows and also through the more rapid and wide diffusion of technology
• Globalization is an expansion, and intensification of social relations and consciousness across world time and world space. It is about growing worldwide connectivity according to Steger.
• 1.   It involves both the creation of new social networks and the multiplication of existing connections that cut across traditional, political, economic, cultural, and geographical boundaries.

  Example: Brazilian World Cup: Today’s media combine conventional TV coverage with multiple streaming feeds into digital devices and networking sites that transcend nationally based services
• 2. Globalization is reflected in the expansion and the stretching of social relations, activities, and connections.

  Examples:

  ·        Reaching of financial markets around the globe

  ·        Occurrence of electronic around the clock

  ·        Emergence of gigantic and virtually identical shopping malls in all continents to cater to consumers who can afford commodities all over the world-including products whose various components were manufactured in different countries. This process is called social stretching.
• 3. Globalization involves the intensification and acceleration of social exchanges and activities

  Examples:

  ·        The worldwide web relays distant information in real time

  ·        Satellites provide consumers with instant pictures of remote events

  ·        Sophisticated social networking by means of facebook or twitter has become routine activity for more than a billion people around the globe
• 4. Globalization processes do not occur merely or an objective, material level but they also involve the subjective plane of human consciousness. Without erasing local and national attachments, the compression of the world into a single place has increasingly made global the frame of reference for human thought and action
• Globalization involves both the macro-structures of a global community and the micro-structures of global personhood. It extends deep into the core of the self and its dispositions, facilitating the creation of multiple individual and collective identities nurtured by the intensifying relations between the personal and the global. They differ from each other by acceleration in the speed of social exchanges and widening of geographical scopes
• 1.The Prehistoric Period (10000 BCE-3500 BCE)

  In this earliest phase of globalization, contacts among hunters and gatherers – who were spread around the world – were geographically limited. In this period due to absence of advanced forms of technology, globalization was severely limited
• 2.The Pre-modern Period (3500 BCE- 1500 CE)

  In this period the invention of writing and the wheel were great social and technological boosts that moved globalization to a new level. The invention of wheel in addition to roads made the transportation of people and goods more efficient. On the other hand writing facilitated the spread of ideas and inventions
• 3.The Early Modern Period (1500-1750)

  It is the period between the Enlightenment and the Renaissance. In this period, European Enlightenment project tried to achieve a universal form of morality and law. This with the emergence of European metropolitan centers and unlimited material accumulation which led to the capitalist world system helped to strengthen globalization.
• 4.The Modern Period (1750-1970)

  Innovations in transportation and communication technology, population explosion, and increase in migration led to more cultural exchanges and transformation in traditional social patterns. Process of industrialization also accelerated
• 5.The Contemporary Period (from 1970 to present)

  The creation, expansion, and acceleration of worldwide interdependencies occurred in a dramatic way and it was a kind of leap in the history of globalization
• Historical Periods of Globalization

  1. The Prehistoric Period (10000 BCE-3500 BCE)
  2. The Pre-modern Period (3500 BCE- 1500 CE)
  3. The Early Modern Period (1500-1750)
  4. The Modern Period (1750-1970)
  5. The Contemporary Period (from 1970 to present)
• Dimensions of Globalization

  1. Economic Dimension
  2. Political Dimension
  3. Cultural Dimension
  4. Religion Dimension
  5. Ideological Dimension
• 1.Economic Dimension

  This refers to the extensive development of economic relations across the globe as a result of technology and the enormous flow of capital that has stimulated trade in both sources and goods

  ·        Major players in the current century’s global economic order 1. Huge international corporations (General Motors, Walmart, Mitsubishi)

  ·        International Economic Institutions (IMF, World Bank, The World Trade Organization)

  ·        Trading Systems
• Major Sources of Economic Growth across Countries

  1.  Property rights

  2.  Regulatory institutions

  3.  Institutions for macro-economics

  4.  Stabilization

  5.  Institutions for social influence

  6.   Institutions for conflict management
• Economic institutions have a decisive influence on investment in physical and human capital, technology, and industrial productions. It is also important for resource distribution.
• 2. Political Dimension

  This refers to an enlargement and strengthening of political interrelations across the globe

   
• Political Issues that Surface in this Dimension

  1.      The principle of state sovereignty

  2.      Increasing impact of various intergovernmental organization

  3.      Future shapes of regional and global governance
• The globalization rendered almost powerless any political efforts to introduce restrictive policies affecting individual states, with the results that the world in many ways turned into a borderless world. Governments often seek to restrict the migration of peoples, especially those coming from the poor countries in the global South.
• In the development of supra-national structures and associations held together by common concerns and mutually agreed upon norm, the most obvious is political globalization.

  On the part of the involved parties, informal structures which are considered binding, bring together world power centers due to common interests.
• 3. Cultural Dimension

  This refers to the increase in the amount of cultural flows across the globe. Cultural interconnections are at the foundations of contemporary globalization
• Individualism and consumerism which are the dominant cultural characteristics of our age and the drive for economic success stimulated by the internet and other technological devices circulate much more easily than they did in earlier periods. In the dissemination of popular culture, transactional media corporations play a major role which brought a sharp rise in homogenized popular culture that is manifested in the dominance of fast food restaurant on more aspects of life throughout the world

   
• Cultural diversity often results hybridization- a constructive interaction process between global and local characteristics which is often visible in food, music, dance, film, fashion, and language. As a result there is a scarcely any society in the world that expresses itself in its own self-contained and authentic culture
• Media empires generated and directed the extensive flow of culture. Examples of these are Yahoo, Google, Microsoft, and Disney. Advertisement plays an important role in this cultural flow by featuring various celebrities in the television aside from transforming newscast into entertainment shows.
• 4.Religious Dimension

  Religion is a personal or institutionalized set of attitudes, beliefs, and practices relating to or manifesting faithful devotion to an acknowledged ultimate reality or deity (12). It is the most important defining element of any civilization as contrasted with race, language, or way of life. As such, it is also portrayed as a defining element in future conflicts.
• Whether the root cause of a particular conflict or merely a vehicle for the mobilization of nationalist or ethnic passions, religion is certainly central to much of the strife currently taking place around the globe.