Lesson 1 and 2 Globalization and Market Globalism
Lesson 1 and 2 Globalization and Market Globalism
Lesson 1 : Globalization
Introduction
Learning Objectives
1. Be able to define globalization.
2. Identify the forms of globalization.
3. Understand the benefits and effects of globalization.
Globalization is a term used to describe how trade and technology have made the world
into a more connected and interdependent place. Globalization also captures in its
scope the economic and social changes that have come about as a result.
It may be pictured as the threads of an immense spider web formed over millennia, with
the number and reach of these threads increasing over time. People, money, material
goods, ideas, and even disease and devastation have travelled these silken strands,
and have done so in greater numbers and with greater speed than ever in the present
age. 1
1
National Geographic, “Globalization”., Available on
https://www.nationalgeographic.org/encyclopedia/globalization/print/
Activities
• Name a few products that are produced by multi-nationals. Do you think that those products
influence your lifestyle? In what way?
Content
The advances in technology made the growth of transport and communication possible. This
means that people and countries can now communicate and exchange information in a less
complicated way.
Globalization comes from the word “globe” or “globalize” which means the emergence of
countries and rations across the world. With globalization, the barter or exchange of goods and
products between countries are made possible so the world gets closer together. Like goods and
products, some individual elements like traditions, languages, cultural beliefs, norms or values also
influence each other.
2
"What are the key aspects of globalization?" eNotes Editorial, 14 July 2018, https://www.enotes.com/homework-
help/what-key-aspects-globalization-culture-economics-349992. Accessed 8 Aug. 2020.
The 18th and the 19th century are generally linked with the events of democracy,
industrialization and scientific progress. In the year 1776, The American Declaration of
Independence took place where it served as a huge factor in the spread of democratic ideals. In the
19th century, industrialization took place. Industrialization gave the world an opportunity to a
prominent technological progress that allowed countries to experience a faster exchange between
goods, products and information.
In the end of the Second World War in 1945, the third phase of globalization took place. The
period from the late 1940s to the early 1970s is called the Golden Age of Capitalism. New
international financial agreements and institutions, such as the International Monetary Fund and the
World Bank, provided a new kind of global financial stability. The Golden Age of Capitalism ended
abruptly in the 1970s. Instead of competition between countries, the neoliberal globalism made sure
to implement three important characteristics - deregulation, privatization and liberalization. 3
Scholars around the world concluded that globalization is just a concept, but many argued that
globalization is a process or phenomenon with a very long history. According to Thomas L.
Friedman, an American political commentator and author, globalization is divided into three periods 4
:
3
Peter Vanham “A Brief History of Globalization”. 2019, Available on
https://www.weforum.org/agenda/2019/01/how-globalization-4-0-fits-into-the-history-of-globalization/
4
Mactal, Ronaldo PhD Padayon 10 (Mga Kontemporaryong Isyu) Phoenix Publishing House, 2018, Quezon Ave.
5
Mactal, Ronaldo PhD Padayon 10 (Mga Kontemporaryong Isyu) Phoenix Publishing House, 2018, Quezon Ave.
Assessment
1. List your expectations from the course.
Learning Objectives
1. To be able to understand the various approaches to globalization.
2. To be able to analyse the different drivers of market globalism.
3. Assess the impact of globalization in our country.
Globalism versus globalization? Many people would think the two terms refer to the
same phenomenon. However, there are important differences between the two.
Globalism, at its core, seeks to describe and explain nothing more than a world which is
characterized by networks of connections that span multi-continental distances. It
attempts to understand all the inter-connections of the modern world — and to highlight
patterns that underlie (and explain) them. In contrast, globalization refers to the increase
or decline in the degree of globalism. It focuses on the forces, the dynamism or speed of
these changes. In short, consider globalism as the underlying basic network, while
globalization refers to the dynamic shrinking of distance on a large scale.
Globalism is a phenomenon with ancient roots. Thus, the issue is not how old globalism
is, but rather how “thin” or “thick” it is at any given time. As an example of “thin
globalism,” the Silk Road provided an economic and cultural link between ancient
Europe and Asia. Getting from thin to thick globalism is globalization — and how fast we
get there is the rate of globalization. Of course, the Silk Road was plied by only a small
group of hardy traders. Its direct impact was felt primarily by a small group of consumers
along the road. In contrast, the operations of global financial markets today, for instance,
affect people from Peoria to Penang. Thus, “globalization” is the process by which
globalism becomes increasingly thick/intense.
The general point is that the increasing intensity, or thickness, of globalism — the
density of networks of interdependence — is not just a difference in degree from the
past. An increasing “thickness” changes relationships, because it means that different
relationships of interdependence intersect more deeply at more different points. At the
same time, it is important to note that globalism does not imply universality. After all, the
connections that make up the networks to define globalism may be more strongly felt in
some parts of the world than in others.6
Activities
• What is the impact of market globalism in your life and your family?
Content
6
Joseph Nye, “Globalism versus Globalization” April 15, 2002. Available on
https://www.theglobalist.com/globalism-versus-globalization/
• According to Manfred Steger, a professor at the University of Hawaii at Manoa, there are
three main types of globalism 7 :
✓ Market Globalism – includes the definition and ideology of neo-liberalism. It also
seeks to an economic globalization with free markets, norms and neo-liberal
meanings. This ideology is preferred by many powerful individuals at it promotes
democracy and is very beneficial to everyone.
✓ Justice Globalism – unlike market globalism, justice globalism constructs the vision
of globalization based on the ideology of global solidarity and social justice. This
ideology is also envisioned by a lot of individuals for they prove justice globalism is
socially fairer.
✓ Religious Globalism – on the other hand, struggles competing between market
globalism and justice globalism as they mobilize religious beliefs and aspires for a
global and religious community to uphold superiority over their secular beliefs and
structures.
Ideology
• The term “ideology” was first coined by Antoine Destutt de Tracy in the late 18th century.
• It is a system of widely shared ideas and ideals, patterned beliefs, guiding norms and values
and ideals accepted as truths by parts of the society.8
• Ideology is also considered to be the working of ideas that helps build a legitimate and
dominant paradigm or pattern. It somehow makes a person culturally conditioned and
brainwashed, not being able to ask about the thoughts that runs in his mind.
• According to Freeden (1996), what makes an ideology “political” is that its claims select
privilege and construct social meanings related to the exercise of power in society.
• French philosopher, Paul Ricouer (1986), identified the historical elements and functions of
ideology. Drawing on the insights of the Marxist tradition, he characterized the first functions
of ideology as; 9
o The Reality Distortion – the production of contorted images of social reality. This
conceals the contras between things to cease being envisioned in a theory as they
get accepted out on the plane of material reality.
o Legitimation – the process of claiming legitimacy made by the ruling authority and the
belief in an authority’s legitimacy granted by its subjects as it gets accepting in
society.
o Social Integration – plays a meditating or integrative role. ‘It provides society the
stability as it creates, preserves and protects the social identity of persons and
groups since it aligns technology with business strategy and goals.’
7
Steger, Manfred Globalization (3rd edn) Chap 7, Oxford Printing Press 2013. Available on
https://www.veryshortintroductions.com/view/10.1093/actrade/9780199662661.001.0001/actrade-
9780199662661-chapter-7
8
Cranston, Maurice “Ideology” Encyclopaedia Britannica 2014 https://www.britannica.com/topic/ideology-society
9
Tura, Marcelo Felix “Sources and Implications in Paul Ricoeur's Ideology Concept” Available on ITAIEA website :
https://www.bu.edu/wcp/Papers/Soci/SociTura.htm#:~:text=Sources%20of%20the%20Concept%20of%20Ideology
%20in%20Paul&text=Ricoeur%20starts%20with%20an%20apparent,and%20third%2C%20the%20social%20integra
tion.
• Ideology offers no duplicity. As Sir Francis Bacon suggests, it always appears upright. As
Eagleton’s book puts it, “it cannot help presenting itself to our consciousness in ways that
you actually ask what it is”.
“Imperial Globalism refers to the process of economic change based on a use of force threw
economic sanctions or military might and a justification of actions are said to be in a domestic
intervention.”
American political scientist, Joseph Nye, co-founder of the International Relations Theory of Neo-
Liberalism generalized the term “market globalism” to argue that “globalism refers to any description
or explanation of a word which is characterized by networks of connections that span multi-
continental distances”.
Assessment
1. Define economic globalization.
5. Draw a very simple slogan on how you understand the role of globalism in our economy.
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