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The Contemporary World

The document discusses globalization as a movement towards economic and cultural integration, highlighting three main theories: Hyperglobalisationism, which views a single global market; Global Scepticism, which focuses on regional economic blocs; and Transformationalism, which seeks to balance global and local economic processes. It also outlines various underlying philosophies of globalization, including Modernization Theory, Dependency Theory, and perspectives from Manfred Steger and Benjamin Barber on the implications of globalization. Overall, it emphasizes the complex interplay between global and local dynamics in shaping contemporary society.

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6 views2 pages

The Contemporary World

The document discusses globalization as a movement towards economic and cultural integration, highlighting three main theories: Hyperglobalisationism, which views a single global market; Global Scepticism, which focuses on regional economic blocs; and Transformationalism, which seeks to balance global and local economic processes. It also outlines various underlying philosophies of globalization, including Modernization Theory, Dependency Theory, and perspectives from Manfred Steger and Benjamin Barber on the implications of globalization. Overall, it emphasizes the complex interplay between global and local dynamics in shaping contemporary society.

Uploaded by

sairagawilan0
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We take content rights seriously. If you suspect this is your content, claim it here.
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THE CONTEMPORARY WORLD

SUBJECT CODE: SOC SCI 15


TIME/DAYS: 10:30AM - 12:00PM / TTH
Instructor: V.A.P.Wacdagan

GLOBALIZATION
Globalization is a global movement towards integration of the economy,
finance, commerce, and communications. Globalization means opening up
local and nationalistic perspectives to a broader view of an interconnected and
interdependent world with free transfers of capital, goods, and services across
national boarders.

Three Theories of Globalization

1. The World-Economy or Hyperglobalisationism


• The process by which capitalist world-system spreads across entire
globe.
• The global marketplace has become so advanced and integrated that the
nation-state is becoming obsolete.
• World-economy comprises of a single world market, and a single, mobile
labor force.
• Core Countries: higher-skill, capital-intensive production, active
armed forces, consume much of the profits. (E.g., U.S, Britain, France,
Germany, Japan)
• Peripheral Countries (least developed nations): low-skill, labor-intensive
production, and extraction of raw materials, weaker armed forces,
weaker economy e.g., poorer, recently independent colonies)
• Semi-Peripheral Countries: less dependent on the core than the
peripheral areas, more diversified economies, and stronger military
forces than the peripheral countries (e.g., Canada, China, Australia)
(e.g., poorer, recently independent colonies)

2. The Regional Bloc Theory or Global Scepticism


• Disagree strongly with hyperglobalists
• Single world market exists
• The growing internationalization of trade and investment is the growth of
regional economic blocs (e.g., European Union and East Asian
Community)
• No single government or institution guiding the process
• The growth of regional trading blocs: benefited some countries (mainly
those within the blocs) and disadvantaged others
• It is not a reality, but a strategy to extend capitalism: violent protests
against globalization occur
• Capitalism emphasizes competition and financial efficiency over care for
oppressed and disempowered people.

3. The Third Way Theory or Transformationalism


• Seeks to find a relationship between economic processes occurring at the
global and local scales
• Known as a transformationalism view because it looks for ways of
transforming the powers of the nation-state to cope with pressures of
globalization
• Challenge existing institutions to reform/restructure, or encourage
greater local autonomy
• Linked to political agenda
• Think globally, act locally
• Maintain diversity in the face of economic forces that promote
uniformity.

UNDERLYING PHILOSOPHIES OF THE VARYING DEFINITIONS OF


GLOBALIZATION

1. MODERNIZATION THEORY
• Globalization is an undertaking.
• Engenders economic development, political progress, and sociocultural
diversity.

2. DEPENDENCY THEORY
• Globalization is a catalyst of economic underdevelopment and
dependency.
• The dissolution of local cultures.

3. MANFRED STEGER (2005)


• Globalization is the expansion and intensification of social relations and
consciousness across world-time and across world-space.” Expansion
refers to “both the creation of new social networks and the multiplication
of existing connections that cut across traditional political, economic,
cultural, and geographic boundaries.
• Globalization change our current conditions based on the modern system
of independent nation-states.

4. BARBER (1992)
• Defines globalization as the opposite of localization
• He argues that “Four imperatives make up the dynamic world” which are
Market, Resource, Information Technology, and Ecological
Imperatives.
• According to him, each of these can be considered a factor to shrinking
the world and diminishing the salience of national boarders.

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