Globalization

Abstract

Throughout the late twentieth and the early twenty first centuries, the term, globalization has been frequently used in contemporary academic and general discourse as well as at the forefront of international economic debate. Globalization has a fundamental impact on our daily life, and debate of its good and bad impacts remains unresolved. Although this era has given rise to the significant advancement in various elements such as technological, social, economic, political, cultural, and sociological, the discussions about economic globalization are much more dominant and commonplace.

Globalization

Introduction

Globalization is the process through which the peoples of the world interconnected in all aspects of their life that is culturally, economically and politically, technically and environmentally. Globalization has always been equated by many analysts with economic interdependence. Indeed, nowadays, the extent and level of global economic relations appears to be unparalleled in world history, mainly in terms of the immense quantity of capital flows. It was supposed to be one of the great new ideas. The current wave of globalization is just a subset of huge structural changes that are the outcome of the Schumpeterian evolution in technology, and spatial intensity and scope of interactions between many actors at all levels of the economy.

I believe globalization put a new emphasis on spatial economics and the importance of economic geography because of the spatial spread of certain economic activities in some geographical locations and the contraction of certain business in others. Because globalization is immaterial and impersonal, it may not be located in a defined geographical space, it cannot be taxed or prosecuted, but it governs to the extent the lives of people that it touches. Globalization seems to be something like an emperor without an empire.

From my point of view the current wave of globalization is just a subset of huge structural changes that are the outcome of the Schumpeterian evolution in technology and spatial intensity and scope of interactions between many actors at all levels of the economy. As we know that the financial scandals such as the ones linked with Enron and WorldCom (both in 2002) created a public outcry against deregulation. This was reinforced in the aftermath of the global credit crunch of 2007-08 which was based on the deregulated American financial alchemy. “The idea that the firms are best policed by themselves, and that markets are always self-correcting is shaken”.

Discussion

Globalization and Realism

“The common phrase associated with the theory of realism is “power politics.”While this phrase is somewhat necessary to understanding the assumptions of political realism, it is less than complete”.

From the above quotation we can see that realism is a philosophy that understands the world as relational, causality as contingent, and knowledge as socially produced. I believe that realism is a powerful analytical ability to understand the united international system. For classical realists, like Morgenthau, the forces inherent are the nature of human behavior, such as aggressiveness, are those that make up the world consequently, favor the outbreak of war. They believe that the proper way to avoid them ...