An ostensible postulation among political scientists, economists, political economists or any of the social scientists is that globalization is exploitative, deplorable and is the other concept of globalism.
In actuality, one of the most misrepresented and misunderstood concepts in the social sciences is globalization. Globalization, according to Globalization101.org (a project of SUNY Levin Institute) is defined as: “a process of interaction and integration among people, companies and governments of different nations, a process driven by international trade and investment and aided by informational 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 liberal economist Joseph Stiglitz, who wrote the best selling book Globalization and its Discontents defines globalization as: “the process of economic integration of countries, through the increasing flow of goods, services, capital and labor.”
The legendary economist, Milton Friedman, defines globalization as: “the inexorable integration of markets, nation states, and technologies to a degree never witnessed before – in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper, and cheaper than ever before and in a way that is enabling the world to reach into individuals, corporations, and nation states farther, faster, deeper, and cheaper than ever before.”
Generally based on the definitions and analyses of the aforementioned economists of different ideological perspectives, we can agree that globalization is the interrelatedness and interconnectivity of individuals, companies and countries internationally for the purpose of economic growth. Globalization consists of the outsourcing and offshoring of jobs. Additionally, globalization leads to hyper-competitiveness of products that lead to the minimization of prices, which enhances the affordability of prices for the consumer. Not to mention, globalization consists of the syndication of ideas that lead to cultural relevancy, elevation and evolution to adapt to the technological advances and the spontaneity of changes that inevitably occur over time. Globalization has various componental variations and they include:
1) Financial globalization; which mean that the world’s financial systems have become interconnected primarily of major cities with respective stock markets.
2) Economic globalization; which denotes the increasing trade of goods, services, intellectual property, and corporate interactions and transactions transcending geographical lines.
3) Technological globalization; technological advancements that lead to the efficiency of transparency, automation, efficiency and innovation throughout the globe. An example of this is the creation of the internet, the airplane, cellular phones, phone applications, etc.
4) Political globalization; the formation of supra-national entities and intergovernmental Organizations who are created for the purpose of regulating the globalization of the free market; examples of these entities are the United Nations and the European Union, etc.
5) Cultural globalization; the pervasion and syndication of ideas, ideologies, lifestyles, philosophies and perspectives throughout the world, transcending geographical, political or even linguistic barriers.
Contrarily, the concept of globalism according to theglobalist.com is “a world which is characterized by networks of connections that span multi-continental distances.”
Globalism is more so of a moral and ideological belief that a nation, nations, or supra-national entities have an obligation to expedite or initiate the process of globalization. The concept of globalization is more so of a process, while globalism is an ideological belief that is, for the most part, superimposed and centrally planned by government or the public sector.
Globalization is a process that is organic, voluntary, efficient and in the positive sense opportunistic for innovators, entrepreneurs and creatives, who are looking to capitalize on international markets due to the incentives of affordability, demand and profitability. This eventually leads to the advancement of international societies, since people are trading ideas with one another, which leads to innovation and growth, because history has proven that isolationism and trade barriers stagnate economies and could lead to global contemptuousness.
Contrarily, globalism is forced and superimposed by government, which leads to a disintegration of national sovereignty, cultures, and superimposes multi-culturalism and the intentionality of the country that practices globalism to impose a uni-polar global government or order. Examples of globalism could include the Cold War between the United States and the Soviet Union, the Third Reich of Germany and Islamic fundamentalist terrorists, who possibly affiliated with members of the Saudi government in the September 11th attacks on U.S. soil for various complex purposes, but of course for the eventual hegemony of an Islamic global government and order.
Globalization on the other hand, is a process that is organic and empowering for individuals, and history corroborates this claim.
According to Daniel Griswold’s commentary for the Cato Institute, global exports as a share of global domestic product increased from 14% in 1990 to 24% in 2000. Also, according to a study by economists Jeffrey Sachs and Andrew Warner, throughout the 1970s and 1980s, open economies grew by 4.5% annually compared to closed economies that grew by 0.7%! Additionally, in China, where the manufacturing sector has exponentially increased from the market liberalization and deregulation policies of the late 1970s under Deng Xiopang, the annual GDP of the country increased by close to 10% annually, and 150 million people were lifted out of impoverishment.
Globalization has created job opportunities around the world and lifted a plethora of people out of impoverishment via the free market. As well as, made handing business globally efficient, due to the creation of the Internet, e-mail, social media inteconnectedness, etc. In closing, globalization is viewed as negative and exploitative, when in actuality, as long as laws globally provide opportunities for people to advance, excel and protect the property rights of citizens, globalization leads to cultural elevations, sociological interconnectedness, technological advancements and enormous opportunities throughout the world.
This post was written by Baruti Libre.
The views expressed here belong to the author and do not necessarily reflect our views and opinions.
Latest posts by Baruti Libre (see all)
- Globalization and Globalism are not the Same! - April 19, 2017
- The Effect of Government Regulation is Mass Incarceration - April 10, 2017
- Freedom is not Fairness - April 3, 2017