Topics: Globalization, Economics, United States Pages: 11 (3543 words) Published: January 12, 2014


Literature Review

We live in the fast growing world of globalization where the entire world has now shrunken into a small global village. Globalization has often been regarded as the ‘cradle’ of global economic development. This so called ‘world liberator’ however has not escaped criticism as opponents claim that it has been the cause of social evils and rising levels of poverty in developing countries. Due to the nature of globalization and in its bid to open up social, economic and political boundaries currently in place, various functions in different countries have been affected. This research will shed some light on the potential threats and benefits of globalization along with its effect in developing countries. This has been a subject of debate with different views being put forth about the possible outcome of globalization in developing countries.

International Relations is one of the most intensely studied and debated areas of intellectual inquiry. This is in part due to the distinctive theories and theoretical debates which have enriched research and writing in the field since World War II. Neorealist, neoliberal, constructivist and structuralist schools of thought all contribute insights which advance the leading research agendas. The main subject of this research project is Political Globalization and its impacts on the 21 st Century.

Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale. However we see that to different scholars, the definition of globalization may be different. According to Cheng (2000), it may refer to the transfer, adaptation, and development of values, knowledge, technology, and behavioral norms across countries and societies in different parts of the world.

According to Tom Friedman globalization is an International System that replaced the Cold War.

Globalization is also simply referred to as the widening, deepening and speeding up of worldwide interconnectedness which is a contentious issue in the world politics.

We live in an age of globalization, where technology, ideas, factors of production and goods are increasingly mobile across national boundaries. The current wave of globalization is distinguished from previous ones in part because of the major role of information technology.

Openness to international trade, finance and technology is a choice that countries make, and despite the facilitating role of information technology, many countries, even many leading players in the world economy including the United States, China, India, Brazil and Russia, could decide to close their borders but they do not. A reason to that is international actors have realized that working together where one state can have comparative advantage in the production of a product, is a situation where both the states benefit.

That’s the theory of free trade which is supported by globalization where as in reality we attach a long list of disadvantages with this that proves that globalization isn’t the best thing that’s happened to the world.

The six theories and globalization

The first three of these theoretical perspectives realism, liberalism and Marxism are the man theories that have been used to understand the world politics with constructivism becoming increasingly influential sicne the mid 1990s. Obviously each theory focuses on a different aspect of world politics. Realism focuses on the power relation between states, liberalism on a much wider set of interactions between states and non-state actors. Marxist’s theory on the patterns of the world economy and constructivism on the ways in which we can develop social structures and processes.

Marxist theory believes that globalization is a bit of a sham. It is nothing new, and does not mark a qualitative shift in world politics....
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Globalisation Essay
  • Globalisation Essay
  • Globalisation Essay
  • Essay about Globalisation
  • Globalisation Essay
  • Globalisation Essay
  • Essay on Globalisation
  • Globalisation Essay

Become a StudyMode Member

Sign Up - It's Free