Theoretical PERSPECTIVES ON GLOBALIZATION

Theoretical Perspectives on Globalization

Theoretical Perspectives on Globalization

The term globalisation is one that is used with ever increasing frequency as if it had a universally accepted meaning and definition. According to Modelski, globalisation is a historical process which is characterised by a growing engagement between peoples on all corners of the globe (Modelski, 2003, pp.55-59). However, as Heywood points out, it can refer to various things such as processes, policies, strategies, an occurrence or an ideology. He suggests, its elusive meaning lays in the fact that it “is not so much an it as a them” (2007, p.143). The reason for the elusiveness of the term is that, as Heywood pints out, it involves many different facets which many different academics proclaim as its defining features.

So, what are these facets of globalisation? Held and McGrew attempt to outline a consensus by suggesting that globalisation involves a time-space compression due to electronic communication, an accelerating interdependence between national economies and societies with those of other states, a shrinking world where borders are less relevant to socio-economic activity and an increasing interconnectedness of cultural, economic and political worlds (2003, pp.3-4). This provides the best summary of what globalisation is and what it involves; however, different perspectives on globalisation view these processes in different ways and provide competing explanations of their significance. The first of these to be outlined is the hyperglobalist perspective (Held et al, 2000).

The hyperglobalist perspective is the one that takes the most fervent view of the globalisation process. From this perspective, globalisation defines a new era of history in which the nation-state is becoming increasing irrelevant in a global economy. Adherents to this view see globalisation as “bringing about a denationalisation of economies through the establishment of transnational networks of production, trade and finance” (Held et al, 2000, p.3). From this viewpoint, global capital and the neo-liberal market system is the most important feature of the globalisation process. At the core of this view is how the capitalist system permeates into all corners of the globe, spreading its influence.

The hyperglobalist perspective also suggests that we are now entering into a period of global governance, with institutions such as the International Monetary Fund (IMF), The World Trade Organization (WTO) and The World Bank in conjunction with multinational corporations (MNC's) in many ways superseding the traditional power base and sovereignty of the nation state. This argument holds particular salience in countries such as Greece and Ireland today as IMF intervention in their economic affairs is seen as an erosion of national self-determination. The hyperglobalist perspective would also point to the growth of a global civil society, where non-governmental organisations (NGO's) such as Greenpeace and Amnesty International play an increasing role in the agenda setting in world politics.

On a cultural level, the hyperglobalist perspective sees an emergence of a “global popular culture” (Held and McGrew, 2003, p.38) and an increasing interpenetration of cultures across the globe. This global culture flow is facilitated by the growth ...