1st Semester Summarization

Submitted to: Ms. Erica Mapoy

January 26, 2023

By:

Tyrrenz Yegow Tomboc

John Princelee C. Untalan

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Globalization is not a recent phenomenon; it has been happening for centuries.

Many of the characteristics of the current wave of globalization are identical to those
that were in place prior to the start of the First World War. Globalization is the
interaction and integration of people, businesses, and governments from various
countries, fueled by trade, investment, and information technology.

The amount of global trade has multiplied 20 times since 1950. Foreign
investment flows nearly doubled from $468 billion to $827 billion between 1997 and
1999. Particularly, improvements in information technology have fundamentally
changed economic life. Globalization proponents contend that it enables
underdeveloped nations and their inhabitants to experience economic growth. The term
'globalization' has earned considerable credit in the social sciences and has also come
into common use in public debates. There is hardly any consensus on either its precise
meaning or its determining forces or consequences. The IMF (2008) defines
globalization as the process of making the world economy an 'organic system' by
extending transnational economic processes and relations to more and more countries
and deepening the economic interdependencies among them. The phenomenon can
have several interconnected dimensions, such as the globalization of trade of goods
and services, financial and capital markets, technology and production. There is no
single definition of globalization, and there is no consensus on its origin. If we accept
that economic globalization is a process that creates an 'organic system' of the world
economy, it seems reasonable to look beyond the last 30 years or so. The best-known
example of archaic globalization is the Silk Road, which connected Asia, Africa, and
Europe. The first multinational corporations, the British and Dutch East India
Companies, established in 1600 and 1602, did not favor international economic
integration. Countries were mostly self-sufficient and autarkic, the UK and the
Netherlands being the only exceptions.

In 1867, European nations, as well as the United States, propagated a deliberate

shift to gold at the International Monetary Conference in Paris. In practice, the gold
standard functioned as a fixed exchange rate regime, with gold as the only international
reserve. Participating countries determined the gold content of national currencies,
which in turn defined fixed exchange rates (or mint parities) as well. World War I
brought an end to the classical gold standard; participating nations abandoned the gold
export in order to stop depletion of their national gold reserves. Competitive
devaluations, along with tough capital controls and the imposition of (prohibitive) tariffs,
induced a race to the bottom. The UK could not finance its current account deficit by
capital inflow anymore; therefore, it had no other choice but to abandon the gold
standard once and for all in 1931.

Capitalism is not the mere existence of persons or firms producing for sale on the
market with the intention of making a profit. We are in a capitalist system only when the
system gives priority to the endless accumulation of capital. Capitalists need a large
market (hence mini systems are too narrow for them) but they also need a multiplicity of
states. Using the same name to describe institutions in different historical systems often
confuses rather than clarifies analysis. It is better to think of the set of institutions of the
modern world-system as contextually specific to it.

The basic institutions are the market, firms, households, the classes, and the status
groups (or identities). Capitalism cannot function without markets, and it is true that
capitalists often say they favor free markets. But capitalists need not totally free markets
but markets that are only partially free. What one needs most is the support of a
relatively strong state, one which can enforce a quasi-monopoly. For much of the 20th
century, analysts argued that the state was being displaced as the primary vehicle
through which political and economic institutions would organize themselves. The early
years of the twenty-first century have shown us that globalization, at least in the short
run, has not displaced the state, but that it has dispersed power beyond the state.
States now find themselves in subordinate positions, particularly in the pecking order of
global capitalism, with diminished capacities to protect their populations. The United
Nations had 51 founding members shortly after the Second World War in 1945; by the
end of 2012, the U.N. had 193 member states. Many of these states emerged as a
result of decolonization in the 1950s and 1960s and the breakup of the Soviet Union in
1991. Controversies over which political communities have the right to belong to the
United Nations illustrate the power and symbolism of states in the global age.

In 1956, Benjamin Bloom published a framework for categorizing educational

goals: Taxonomy of Educational Objectives. This framework has been applied by
generations of K-12 teachers and college instructors in their teaching. The taxonomy is
popularly remembered according to the six main categories: Knowledge,
Comprehension, Application, Analysis, Synthesis, and Evaluation. Knowledge "involves
the recall of specifics and universals" and comprehension "refers to a type of
understanding or apprehension such that the individual knows what is being
communicated". Analysis represents the "breakdown of a communication into its
constituent elements or parts". Synthesis involves the "putting together of elements and
parts so as to form a whole". Evaluation engenders "judgments about the value of
material and methods for given purposes".

The Philippine Development Plan 2011-2016 adopts a framework of inclusive

growth, which is high growth that is sustained, generates mass employment, and
reduces poverty. Good governance and anti-corruption are the overarching theme of
each and every intervention. The Plan will serve as our guide in formulating policies and
implementing development programs for the next six years. Goals included alleviation of
poverty, promotion of equity and social justice, and attainment of sustainable economic
growth. Economic performance fell far short of plan targets, but it did provide a basis for
discussion of whether the plan's growth rates were compatible with the maintenance of
long-term debt-repayment obligations.
 The Philippine government has undertaken to provide incentives to firms, both
domestic and foreign, to invest in priority areas of the economy since the 1950s. In 1967
an Investment Incentives Act was passed to encourage and direct investment more
systematically. The incentive structure in the late 1960s and 1970s was criticized for
favoring capital-intensive investment as against investments in agriculture and export
industries.

Philippine government has taken a rather conservative stance on fiscal activities.

During the Marcos regime, national government activity increased to between 15 and 17
percent of gross national product (GNP). Tax revenue, however, remained relatively
stable, seldom rising above 12 percent of GNP. Chronic government budget deficits
were covered by international borrowing during the Marcos era and by domestic
borrowing under the Aquino administration. Tax collections in 1989 were P10.1 billion, a
70 percent increase over 1988, but they remained P1.4 billion below expectations. Tax
evasion was compounded by mismanagement and corruption; 25 percent of the
national budget was lost to graft and corruption. In 1990, the government proposed a
comprehensive tax reform package in an attempt to control the public sector deficit.

Filipino nationalism, which is an important element of foreign policy, showed

every sign of intensifying in the 1990s. Diverse elements in Philippine society were
united in opposition to their common history of subjugation by the United States. The
middle class was deeply disillusioned because five successive United States
administrations had acquiesced to Marcos's dictatorship.

Globally interconnectedness is woven into the fabric of everyday life and is

visible to those who observe. In Manila and New Delhi, there is a good chance that,
upon leaving the cafe, you will find a child beggar in tattered clothes and 'worn-down
slippers'. Walk a block or two and, with your latte still hot, you may find a shantytown,
where houses are built from discarded plywood and galvanized iron sheets. Leftwing
critics of dominant economic paradigms call the forced liberalization and marketization
of developing economies 'globalization' or neo-liberalism. This assumes one cannot
locate the shanty within globality or, at the very least, a globality.
 While the dwellers may not participate in consuming the symbols of global
modernity, its very presence is already prefigured by mechanisms that are also global in
scope. Globalization pushes peoples and groups into a modernity associated with
Western culture and capital, while simultaneously leaving behind others. This chapter
explores the globalization paradox as a means to shed light on the term 'global south' –
a concept that operates under various logics and is articulated by multiple subjectivities.
It makes an argument regarding the importance of the global south relative to other
notions of collectivity such as nations or regions.

Globalization is defined as a set of multiple, uneven, and sometimes. overlapping

historical processes, including economics, politics, and culture, that have combined with
media technology to create the conditions under which the globe itself can now be
understood as an imagined community. Like globalization, the word 'media' came into
popular usage in the twentieth century because a word was needed to talk about a new
social issue. Scholars have found it logical and helpful to organize the historical study of
media by time periods or stages. We will look at the different time periods and point out
how the media of each time period contributed to the globalization of our world.

Media – and globalization as well – have developed sporadically, erratically, in

fits and starts, driven by human activity. The oral medium – human speech – is the
oldest and most enduring of all media. Over hundreds of thousands of years, the very
first and last humans will share at least one thing – the ability to speak. When speech
developed into language, Homo sapiens had developed a medium that would set them
apart from every other species.

Script – the very first writing – allowed humans to share knowledge and ideas
over much larger spaces and across much longer times. With script on sheets of
papyrus and parchment, humans had a medium that catapulted globalization. The great
civilizations, from Egypt and Greece to Rome and China, were made possible through
the script. Millions of books, pamphlets, and flyers were produced, reproduced, and
circulated. Literacy of common people was to revolutionize every aspect of life.

The global city represents and, in many ways, contains the world in a bounded
space. Many global problems, contradictions and inequalities also find expression
amidst the teeming verve of the global city. Large, diverse cities attract people, material
and cultural products from all over the world. Ceaselessly on offer is a cross-cultural
variety of goods and services. The promise and allure of cosmopolitan consumption are
familiar to the dweller of any large twenty-first-century city.

The availability of food from diverse culinary traditions is taken for granted; a
feature of the global city that can be seen, smelt and tasted. The global city also
provides a cosmopolitan variety of cultural products, in order to attract and satisfy those
with cross-cultural curiosity and a desire to engage with "otherness".

The idea of "global city" emerged in the social science literature in the 1980s,
shortly after the concept of globalization captured the social scientific imagination.
Global cities, either as centers of imperial power or "free cities" at the crossroads of
international merchant routes, existed since ancient times. Roderick McKenzie
conceptualized a global network of cities as early as 1927.

Saskia Sassen: The ascendance of information and capital has led to a re-
scaling of what are the strategic territories that articulate the new system. These include
sub-national, notably cities and regions; cross-border regions; and supra-national
entities, i.e., global digitalized markets and free trade blocs. The dynamics and
processes that get territorialized at these diverse scales can in principle be regional,
national or global. I locate the emergence of global cities against this range of
instantiations of strategic scales and spatial units. The globalization of economic activity
entails a new type of organizational structure, which requires a new kind of conceptual
architecture to capture it.

Sustainable Economic Systems by Póciennik Sebatian is an essay on how to

make the future economic system free from previous deficiencies. The essay asserts
that the main reason for the current problems has been the inability of modern societies
to produce enough stability and sustainability. It focuses on areas, which are crucial for
reforms and the emergence of a new, less risky and more responsible art of capitalism.
An anti-cyclical policy sounds very modern but is in fact very old. Every economy moves
through periods of rapid growth with rising inflation and dropping unemployment,
followed by depression with reversal phenomena.

The Brunt land Report of 1987 defines sustainability as 'development that meets
the needs of the present without compromising the ability of future generations to meet
their own needs'. In other words, it is about responsible use of resources. Sustainability
should be seen as different from stability, although at first sight the overlap seems
obvious. In the 19th and early 20th centuries sustainability played a marginal role
because it was better to think primarily about new technologies making a better use of
resources. For a long time, the earth seemed to be a space able to deliver an unlimited
number of chances and goods, and simultaneously adopt unlimited pollution, slavery,
and violence.

This illusion is over, but the externalization bias is still strong. Even today if a
society wants a cleaner environment, it can always shift its 'dirty' production abroad to
other, usually poorer countries.

In 2010–12, around 870 million people around the world continued to suffer from
hunger (FAO, 2012). Food system processes, activities, and outcomes have become
increasingly interlinked across local, national and regional levels. Developments at the
global level often have the power to penetrate deep within regions and states to cause
high levels of insecurity. The first official definition of food security emerged at the 1974
UN World Food Conference. In subsequent decades three distinct paradigm shifts took
place to significantly influence the food security discourse and international agenda.

Much of this shift was driven by Amartya Sen's seminal work, Poverty and
Famines: An Essay on Entitlement and Deprivation (1981). Some of the most
devastating famines of the past century were caused not by lack of food availability, but
by a decline in access to food (FAO, 2001). The FAO identifies four key pillars of food
security – availability, access, utilization and stability. It has also moved away from a
purely calorie-counting approach to food security.

Since the early 1990s, food security has become strongly associated with the
wider concept of human security. The concept prioritizes the safety of individuals and
communities from a range of threats arising from different sources. Poverty is the main
cause of food insecurity, which is, in turn, linked more broadly to 'political security,
socio-economic development, human rights and the environment'. The 2007–8 global
food price spike saw in its wake violent riots and protests in over 30 countries (Brown,
2008; Dupont, and Thirwell, 2009; Evans, 2009). In early 2011, several countries in the
Middle East and North Africa experienced widespread protests and riots against ruling
regimes.

Rising food prices were a key factor in fueling these events (Lagi et al., 2011).
The official approach to food security has a heavy focus on trade and export-oriented
agriculture as the main path out of food insecurity. This is arguably underpinned by a
serious commitment the 'right to trade' as enshrined in the World Trade Organization
(WTO) regime. In this process, small farmers have often been forced off their lands, and
traditional farming practices and local food systems are disrupted.

The argument that a rising global population is behind sharp and sudden
increases in global food prices is a dubious one. By mid-century, the world's total
population is set to reach over nine billion, doubling the demand for food, feed, and fiber
(FAO, 2009). As incomes in developing countries continue to grow, more people can
access food in greater quantities. Global consumption of animal products, such as meat
and dairy, is grain-intensive and therefore increases indirectly human consumption of
both grain and water. Meat consumption in developing countries has lagged that in
richer countries like China and Brazil.

In India, for instance, the consumption of meat continues to lag when compared
with that in wealthier countries. However, the overall demand for animal feed through
poultry, pork, eggs and dairy items continues to expand.

Conclusion
 Globalization is the interaction and integration of people, businesses, and
governments from various countries, fueled by trade, investment, and information
technology. It was happening for a long time until today. Globalization is the interaction
and integration of people, businesses, and governments from various countries, fueled
by trade, investment, and information technology. There are a lot changes happen in
the globalization every country. he first multinational corporations, the British and Dutch
East India Companies, established in 1600 and 1602, did not favor international
economic integration. Countries were mostly self-sufficient and autarkic, the UK and the
Netherlands being the only exceptions. In 1867, European nations, as well as the
United States, propagated a deliberate shift to gold at the International Monetary
Conference in Paris.

Capitalism is an economic and political system in which a country's trade and

industry are controlled by private owners for profit, rather than by the state Capitalism
cannot function without markets, and it is true that capitalists often say they favor free
markets. But capitalists need not totally free markets but markets that are only partially
free.

Filipino nationalism, which is an important element of foreign policy, showed

every sign of intensifying in the 1990s. Philippine foreign relations are colored by the
contradiction between subjective nationalism and objective dependency. After nearly
seventy years of independence, Filipinos still view their national identity as undefined
and see international respect as elusive.

Media – and globalization as well – have developed sporadically, erratically, in

fits and starts, driven by human activity. The oral medium – human speech – is the
oldest and most enduring of all media. Script – the very first writing – allowed humans to
share knowledge and ideas over much larger spaces and across much longer times.

The Philippines has traditionally had a private enterprise economy both in policy
and in practice. The government intervened primarily through fiscal and monetary policy
and in the exercise of its regulatory authority. Philippine government has taken a rather
conservative stance on fiscal activities. During the Marcos regime, national government
activity increased to between 15 and 17 percent of gross national product (GNP). Tax
revenue, however, remained relatively stable, seldom rising above 12 percent of GNP.

Globalization is most often used in an economic context, but it also affects and is
affected by politics and culture. Globalization is defined as a set of multiple, uneven,
and sometimes. overlapping historical processes, including economics, politics, and
culture, that have combined with media technology to create the conditions under which
the globe itself can now be understood as an imagined community.

In 1987, the World Commission on Environment and Development (WCED),

which had been set up in 1983, published a report entitled “Our common future”. The
document came to be known as the “Brundtland Report” after the Commission's
chairwoman, Gro Harlem Brundtland. The Brunt land Report of 1987 defines
sustainability as 'development that meets the needs of the present without
compromising the ability of future generations to meet their own needs'. In other words,
it is about responsible use of resources. Sustainability should be seen as different from
stability, although at first sight the overlap seems obvious.

The rise in food prices is one of the key factors fueling inflation, according to
recent CPI data. Meat consumption in developing countries has lagged that in richer
countries like China and Brazil. In India, for instance, the consumption of meat
continues to lag when compared with that in wealthier countries. Feeding the world in a
sustainable way is one of our most pressing challenges in the coming decades. Meat
plays a pivotal role in this. Meat is an important source of nutrition for many people
around the world. Global demand for meat is growing: over the past 50 years, meat
production has more than tripled. The world now produces more than 340 million tonnes
each year.