TCW CHAPTER ONE

Globalization

is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, culture, political systems, economic development and prosperity, and human physical well-being in societies around the world.

IMF

International Monetary Fund

globalization

is the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services and of international capital flows and also through the more rapid and wide diffusion of technology.

Economic life

is dramatically transformed by advancements in information technology. All sorts of individual economic actors like consumers, investors, and businesses which are valuable new tools for identifying and pursuing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners are provided by information technologies.

four characteristics or qualities:

1. It involves both the creation of new social networks and the multiplication of existing connections that cut across traditional, political, economic, cultural, and geographical boundaries.

Globalization is reflected in the expansion and the stretching of social relations, activities, and connections.


Globalization involves the intensification and acceleration of social exchanges and activities

Globalization processes do not occur merely on an objective, material level but they also involve the subjective plane of human consciousness. Without erasing local and national attachments, the compression of the world into a single place has increasingly made global the frame of reference for human thought and action.

Globalization

involves both the macro-structures of a global community and micro-structures of global personhood

Globalization

-Primarily an economic process. -The integration of the national markets to wider global markets is signified by the increased free trade.

Anti-globalization (1990s)

-Resisting the trade that deals among countries facilitated and promoted by global organizations.

Globalization scholars

do not necessarily disagree with people who criticize unfair international trade deals or global economic organizations.

Journalists and political activists

view globalization has a broader term because the view the process through various lenses that consider multiple theories and perspectives.

The Prehistoric Period (10000 BCE-3500 BCE)

In this earliest phase of globalization, contacts among hunters and gatherers-who were spread around the world - were geographically limited. In this period due to the absence of advanced forms of technology, globalization was severely limited.

The Pre-modern Period (3500 BCE- 1500 CE)

In this period the invention of writing and the wheel were great social and technological boosts that moved globalization to a new level. The invention of the wheel in addition to roads made the transportation of people and goods more efficient. On the other hand, writing facilitated the spread of ideas and inventions.

The Early Modern Period (1500-1750)

It is the period between the Enlightenment and the Renaissance. In this period, the European Enlightenment project tried to achieve a universal form of morality and law. This with the emergence of European metropolitan centers and unlimited material accumulation which led to the capitalist world system helped to strengthen globalization.

The Modern Period (1750-1970)

Innovations in transportation and communication technology, population explosion, and increase in migration led to more cultural exchanges and transformation in traditional social patterns. The process of industrialization also accelerated.

The Contemporary Period (from 1970 to present)

The creation, expansion, and acceleration of worldwide interdependencies occurred in a dramatic way and it was a kind of leap in the history of globalization.

Economic Dimension

This refers to the extensive development of economic relations across the globe as a result of technology and the enormous flow of capital that has stimulated trade both sources and goods.

Major Sources of Economic Growth across Countries

1. Property rights 2. Regulatory institutions 3. Institutions for macro-economics 4. Stabilization 5. Institutions for social influence 6. Institutions for conflict management

Political Dimension

This refers to the enlargement and strengthening of political interrelations across the globe.

Political Issues that Surface in this Dimension

1. The principle of state sovereignty. 2. Increasing impact of various intergovernmental organizations. 3. Future shapes of regional and global governance.

Cultural Dimension

This refers to the increase in the number of cultural flows across the globe. Cultural interconnections are at the foundations of contemporary globalization.

Individualism and consumerism

are the dominant cultural characteristics of our age and the drive for economic success stimulated by the internet and other technological devices circulate much more easily than they did in earlier periods

Cultural diversity

often results in hybridization- a constructive interaction process between global and local characteristics which is often visible in food, music, dance, film, fashion, and language.

Media

empires generated and directed the extensive flow of culture. Examples of these are Yahoo, Google, Microsoft, and Disney

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plays an important role in this cultural flow by featuring various celebrities on television aside from transforming newscasts into entertainment shows

Religious Dimension

Religion is a personal or institutionalized set of attitudes, beliefs, and practices relating to or manifesting faithful devotion to an acknowledged ultimate reality or deity

Jihadist globalism

is a religious response to the materialist assault by the ungodly West in the rest of the world. Coming out of what they consider a pure form of Islam, its disciples seek to destroy all those alien influences that have been imposed on Muslim people

There are eight (8) principles that summarize the Roman Catholic Teachings

1. Commitment to universal human rights.
2. Commitment to the social nature of the human person.
3. Commitment to the common good

4. Solidarity (The principle of Solidarity affirms that membership in the human family means that all bear responsibility for one another.)

5. Preferential option of the poor (In the Theology of the Incarnation- Christ God Became poor for us so as to enrich us by his poverty. The poor are susceptible to the effects of environmental irresponsibility because they live in countries where cheap building materials and cheap labor are readily available. They regularly work in farming, fishing, and forestry, areas which suffer environmental damage)
6. Subsidiary (The Catholic Church teaches that decisions should be made at the lowest level in order to achieve the common good.
7. Justice

8. Integral Humanism- is concerned with the whole person Justice is divided into three (3) categories:

Commutative justice

This aims at fulfilling the terms of contracts and other promises on both personal and social levels

Distributive justice

This ensures basic equity in how both the burden and the goods of society are distributed and that ensures that every person enjoys a basically equal moral and legal standing apart from differences in wealth, privilege, talent, and achievements

Social justice

This refers to the creation of the conditions in which the first two categories of justice can be realized and the common good identified and defended

Ideological Dimensions

Ideology is a system of widely shared ideas, beliefs, norms, and values among a group of people. It is often used to legitimize certain political interests or to defend dominant power structures. Ideology connects human actions with some generalized claims

Globalization is about the liberalization and global integration of markets.

The problem with this claim is that liberalization and integration of markets happen through the political project of engineering free markets by the interference of centralized state power, and it is in contrast to the neoliberal ideal of the limited role of governments

Globalization is inevitable and irreversible.

Globalists believe that the spread of market forces driven by technological innovations is inevitable in globalization. Neoliberals use this claim to convince people to adopt the natural discipline of the market if they want to prosper, which implies the elimination of government controls over the market

Nobody is in charge of globalization

This claim seeks to depoliticize the public debate on globalization neutralizing anti-globalist movements.

Globalization benefits everyone.

Globalists talk about the benefits of market liberalization such as rising global living standards, economic efficiency, individual freedom, and technological progress.

Globalization furthers the spread of democracy in the world