economic and cultural globalisation

economic globalisation

this is the process where the economies of nation states have been locked into a 24hr global market for production, consumption and distribution. this has caused the emergence of a single global economy which limits the economic sovereignty of nation states

causes of economic globalisation

• the underlying economic logic of capitalism

• the role of technological innovation especially in ICT

• the political role of states and international institutions in promoting neo liberal policies of free trade, deregulation, privatisation low taxes and cut to public spending

• the spread of pro market values consumerism and materialism

evidence of economic globalisation

• the growth in international trade especially within TNCs across borders

• the growth of transnational production where design manufacturing and assembly is globalised

• the global division of labour by country creating economic efficiency

• a globalised financial system where financial transactions are instant and oblivious to nation borders

cultural globalisation

the process where cultural differences between nations are flattened out as the world becomes increacingly uniformed people across the globe are buying the same products, eating the same food, doing the same jobs, watching the same things accessing the same news and information

causes of cultural globalisation

• the role of technological innovation especially in ICT

• the growth of TNCs especially the growth of global media empires who may control the news to propagandise

• TNCs have developed global goods and global brands the Americanisation of the world

• the growth of migration and tourism

• the increase of NGO such as human rights watch

• state and institution especially the USA promote lifestyles ideas and needs that allow for the spread of global capitalism

• increased wealth from economic globalisation increases the desire for political participation democracy

evidence for cultural globalisation

homogenisation and monoculture

• increasing uniformity of culture described by political theorist Benjamin barber in his concept of mc world

• an increacingly westernised global culture based around individualism materialism and consumerism

• the emergence of human rights culture the spread and protection of human rights is supported by the public and politicians

• liberal democracy and neoliberal economic policies are the only options according to fukyama

• global culture works across boundaries weakening the state