Globalization PDF
Globalization PDF
Imagination
Charles Wright Mills
Sociological Perspective
• An approach to the understanding of
human behavior by placing it within its
broader social context
• Central Question: How are people
influenced by the broader context in
which they live? (society, groups)
• Why do people do what they do?
Sociological Perspective
•C. Wright Mills “ the sociological
perspective enables us to grasp
the connection between history
and biography”
•By history means, that each
society is located in the broad
stream of events.
• People don’t do what they do
because of inherited
characteristics like instincts but
because of external influences,
that is, the society in which we
grow up and our particular corners
or social location that we occupy.
Globalization
Manfred B. Steger
• The term Globalization is quite new
widely introduced and commonly
used only in late 1980s/ early 1990s
•According to this
interpretation, existing
mechanisms of state control
over international capital
movements expansion of
welfare state.
IMF
• The international Monetary funds aims to
reducing global poverty, encouraging
international trade, and promoting financial
stability and economic growth
1. Overseeing economic development
2. Lending
3. Capacity development
World Bank
•An international financial
institution that provides loans
and grants to the governments
of poorer countries for the
purpose of pursuing capital
projects.
“Golden age of controlled
Capitalism”
• The postwar economic boom or
simply the long boom, was a period
of worldwide economic expansion
beginning after World War II and
ending with 1973-1975.
The Rise of Neo-liberalism
(1980s)
•Neoliberalism is a policy model-
bridging politics, social studies,
and economics- that seeks
transfer control of economic
factors to the private sector
from the public sector.
The Rise of Neo-liberalism
(1980s)
• Liberalization,
• Privitazation,
• Deregulation,
• Free trade,
• Reductions in government spending
Boom and Bust Cycle
• During the BOOM the economy
grows, jobs are plentiful and the
market brings high returns to
investors
• In the subsequent BUST the
economy shrinks, people lose their
jobs and investors lose money.
Southeast Asian Crisis
• Was one such disaster created by
unregulated speculative money
flows, followed by similar debacles
in Russia (1998 ), Brazil (1999),
Argentina (2000-3) and most
importantly, the Global Crisis (2008-
09)
Transnational Coorporations
• Any enterprise that undertakes
foreign direct investment, owns or
controls income generating assets
in more than one country, produces
goods or services outside its
country origin, or engages in
international production
(Biersteker 1978, p. xii)
Multinational Firms
Outsource
• Their ability to outsource
manufacturing jobs- that is, to cut
labour costs by dispersing ecnomic
production processes into many
discrete phases carried out by low-
wage workers in the global south-
Globalization as Political
Process
1. What are the political causes for
the massive flows of capital
money and technology across
territorial bounderies?
2. Do these flows constitute a serious
challenge to the power of the
nation-state?
“Boarderless World”
• Refers to an open world which can bring
influences upon people
1. Culture
2. Beliefs
3. Traditions
End of nation-state
• Nation (people with common
attributes and characteristics)
• State( an organised political system
w/ sovereignity over a defined
space, with borders agreed by other
nation-state
John Perry Barlows