Globalizations (Essay Sample)

Globalisation Name University 22/08/2023 Globalisation Introduction The essay explores and analyses the conceptualisation and the interconnectedness among dimensions of globalisation, namely economic, political, cultural, and social. Globalisation has provided numerous opportunities for worldwide development. Various countries are witnessing faster prosperity than others due to globalisation. For instance, the phenomenon has led to more significant economic gains in parts of the globe, such as East Asia, Africa, and Latin America, which were among the poorest regions 40 years ago (International Monetary Fund (IMF), 2000). However, that does not mean that globalisation is free from risks. Some of the negative impacts of globalisation include volatile capital movements, income inequality, economic and social degradation, among others (International Monetary Fund (IMF), 2000). Therefore, we will critically summarize some of the existing literature on globalisation. Definition of globalisation The “globalisation” concept is a complex, multifaceted, and contested phenomenon, as observed from the perspectives and ideas of economists, political scientists, and sociologists. The existing literature indicates conflicting views about the subject. We will look at different viewpoints, key concepts, contradictions, and paradoxes on globalisation. Ampuja (2015) explores the complex interplay between neoliberalism and globalisation, providing a lens through which modern society's dynamics can be understood. He explains how the two concepts interconnect and shapes numerous aspects of contemporary society. He discusses how neoliberalism and globalisation impact economic systems, governance mechanisms, and social structures at a global scale (Ampuja 2015). Ampuja highlights how globalisation has contributed to the growth of global economic interconnectedness (Ampuja 2015). The author also reiterates that neoliberalism has influenced policy and education thus affecting policies and educational systems worldwide. However, globalisation has also exacerbated inequality and impacted local industries and communities negatively. BBC News, (2016), supports that globalisation has contributed to uneven distribution of income across the world. They used the chart below to show uneven distribution of global income for the years between 1988 to 2008. The figure is in form of an elephant depicting that uneven income distribution due to globalisation is a major problem (an elephant in the room). The figure below also helps in understanding the problem better as it shows income distribution in world’s poorest and richest countries. The figure indicates that income varies in lower-income, middle-income, and richest countries. Appadurai (1996) presents globalisation from a cultural perspective, emphasizing the migration of people and movement of ideas, cultural products and values across the world. He classifies them into five basic scapes namely: * Ethnoscapes (movement of people) * Technoscapes (technology flows) * Mediascapes (media influences) * Ideoscapes (ideas) * Finanscapes (finance) to explain various dimensions of cultural globalisation. Therefore, Apparudai (1996) views globalisation as a process that involves movement, interaction as well as interconnectedness of several cultural practices and elements on a global scale. His theoretical conceptualisation of globalisation emphasizes the everchanging dynamics of culture, economy, and politics in the increasingly interconnected world. However, cultural globalisation can lead cultural homogenization and hence erosion of local cultural identities. Castells (1996) defines globalisation through the emergence of a ‘network society’, where communication technologies play a pivotal role in shaping economic, social and cultural interactions. According to Castells (1996), the globalisation process which has led to the development of a global network infrastructure that has enabled connection of people and institutions across the world. However, the availability of information and the development of communication technologies has challenged notions of privacy and freedom. The different views presented by Castells, Apparudai, and Ampuja shows the diverse ways in which globalisation process is understood, while the paradoxes and contradictions underscore the complexities and challenges associated with this phenomenon. Economic globalisation According to (McRobbie, 1996), economic globalisation is defined as the rising interconnectedness between global organizations as an outcome of the expansion of global financial flows, the wide and quick diffusion of technology, and the size of cross-border trade in goods and services. Technology enables commerce to be increasingly international, while globalisation enables technology to be profitable and surpass old techniques. By enhancing interaction and mobility, technology has made it simpler for people, products, services, and ideas to travel across boundaries. The lifespan of products is also being shortened, work is becoming less visible, organizations are becoming less hierarchical, the value of intellectual property is rising, and new competition is emerging from unexpected organizations and nations. Research by (Castells, 1996) shows that globalisation and networks are components of the economy. It has competitiveness, systematical basis efficiency, and profitability in the Informational Economy. The development of new information technology in the 20th century made them the fundamental component of all profit-maximizing plans. Both locally and globally, competition is driving the adoption of novel regulations and technology, and those who cannot do so are being shut out of the economic system. According to (Appadurai, 1990), Finanscapes is a concept used to describe the various types of capital and how it moves throughout the globe. Forms of capital and possible movements of such forms include: Cash or electronic cash transferred personally or through a bank. stock exchanges for stocks. TNCs are the primary sources of foreign direct investment inflow to developing nations. However, the connection between TNCs and underdeveloped nations is primarily unjust, creating contradictions and paradoxes. Political globalisation Appadurai (1990) defines political globalisation as the absence of a state's complete sovereignty over a given region, as well as more excellent communication among governing bodies, as well as elevated outside interference and interaction based on democratic principles, non-profit organizations, rights for humans, and liberty. The ideoscapes are a prominent driving force of political globalisation, but the media control the narrative. Imagery and concepts associated with the Enlightenment era are political ideologies such as independence, liberty, rights, well-being, participation, and democratization. Ideoscapes, which are attempts to seize state power, also include counter-ideologies that oppose the current, prevailing political discourses. The main objectives of Appadurai's development of his five elements of global cultural economics technoscape, mediascape, ethnoscape, financescape, and ideoscape, were to show that globalisation was not just rooted in the growth of global capitalism within core-periphery designs or resulted in a homogenized worldwide culture (Appadurai, 1990). However, media allows a free flow of information and hence educates people around the globe on their rights and freedom. Unlike liberalism, neoliberalism favours a solid state to enact market-like changes in every sphere of society rather than advocating a laissez-faire economic policy. Thus, political globalisation can be seen in shifts like the democratization of the world, the development of a global civil society, and the abandonment of the nation-state as the primary political actor. The introduction of goods and services, innovation, knowledge transmission, and cultural interactions are other examples. However, there have also been drawbacks to globalisation, including a rise in global inequality, an increase in corruption, job losses, environmental damage, and colonization. Cultural globalisation Cultural Globalisation, as stated by (Featherstone, 1990), examines how 'third cultures' and things outside national borders, like international law, the financial markets, and media conglomerates, have emerged. The author also examines global homogenization's scope, causes, and effects. Thus, cultural globalisation is the extension and intensification of social ties through the global transfer of ideas, meanings, and values. The prevalent use of cultures spread via the internet, popular culture media, and worldwide travel characterizes this movement. According to (Appadurai (1996), Globalisation is inevitable, and global culture is the commodification of culture and practice of any locality in the world. Appadurai (1996), and Featherstone (1990) acknowledge that globalisation largely stems from Western cultures. However, they reject that this phenomenon represents a homogenization of world cultures due to one-way interactions between the latter. They contend that globalisation creates a state of heterogeneity or a network structure in which nodes link with one another about specific cultural features. The 'crisis' of Leninism, social democracy, or the welfare state constitutes what is now known as postmodernism. In an inverted millenarianism, feelings of the end of ideology, art, or social class have substituted catastrophic or redemptive future predictions. The positive impact includes lowering the cost of international travel and communication, which makes it easier to source raw commodities and other inputs globally. Technology that has received a patent promotes globalisation since the patent holder can profit from international markets with little competition. The video (Alfandary, 2015) sh...