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Ps III (BLLB 406) Unit II (C) 1
Ps III (BLLB 406) Unit II (C) 1
Ps III (BLLB 406) Unit II (C) 1
The Hyper Globalist School of Thought, The Sceptical School of Thought & The
Transformationalist School of Thought
The Hyper Globalist School of Thought
In this view, international markets and MNCs, have becomes strong driving
forces in the world and power of states is correspondingly declining.
It simply means that states will be reduced in their authority and will
become institutions that do little more than facilitate these ‘borderless’
exchanges of the economy and also of culture, society and politics.
Older welfare state policies and social democratic models of governance are
now of no use.
The Sceptical School of Thought
It argues that far from making nation states redundant,
globalization is dependent on the nation state as well as the
regulatory powers of governments.
The forces of globalization are themselves dependent upon the
regulatory power of national governments to make states globalize,
liberalize and privatize.
States are playing a more central role in the regulation and active
promotion of cross-border economic activity; they are shaping the
global system instead of being passive recipients of a seemingly
invincible force.
The Transformationalist School of Thought
This school views globalization is ‘transforming’ the world and see it as a
driving force behind the rapid social, political and economic changes that
are reshaping modern societies and a world order irrespective of
differences between international and national affairs.
As per this school, globalization is conceived as a powerful transformative
force, which is responsible for a ‘massive shake-out’ of societies,
economies, institutions of governance and world order.
They believe that contemporary patterns of global economic, political,
military, technological and cultural flows are historically unprecedented.
All these schools views a useful, multidisciplinary framework that assists
us in thinking further about globalization.
CAUSES OF GLOBALISATION OR DRIVING FORCES BEHIND GLOBALIZATION
ECONOMY
POLITICS
ISSUES/IMPACT OF GLOBALIZATION
Globalization and transnationalism have brought about significant
changes to economies, cultures, and ecological systems
worldwide. While they have led to opportunities for growth and
development, they have also raised concerns and challenges
across these domains.
ECONOMIC ISSUES/IMPACT:
Globalization has facilitated the expansion of international trade,
investment, improvement in standard of living and financial flows,
contributing to economic growth and development in many parts
of the world.
However, it has also led to concerns about inequality, job
displacement, and exploitation. Transnational corporations,
operating across borders, often face criticism for their impact on
local economies, labour practices, and environmental standards.
Reduced Economic Autonomy: States have seen a decrease in their
ability to independently control their economies. With the
globalization of financial markets, capital flows, and multinational
corporations, states often find it challenging to implement
protectionist measures or control their currency values. This has
limited their economic policy options.
The unequal price of raw material product and manufacturing
product in the global market results widening income gap
(inequalities) between the rich and poor. Profits usually do not stay
in developing countries – they are returned to developed world.
Jobs are being outsourced from developing countries to more
developed countries resulting in higher unemployment in
developing countries.
Local businesses, hand-loom industry, Cottage and small-scale
industry suffered a lot due to globalization. The highly specialized
and efficient multi-national companies take advantages of large-
scale production and put products at throw away prices. The local
industries could not compete with their global counterpart.
The global economy is now inter-connected. Fluctuations in the
financial market of one nation can affect the value of currency in
another. The economic downfall of one major economic nation
adversely affects the entire global community.
The more technologically advanced and developed countries are
able to sell their products to less-developed countries easily. Hence,
the rich country became richest and poor country became poorest.
SOCIAL & CULTURAL ISSUES/MPACT OF GLOBALIZATION
Cultural Exchange: Globalization facilitates the exchange of ideas, values,
and cultures across borders. It increased the awareness of foreign cultures
and thus different cultures are becoming increasingly accessible and
interconnected.
Migration and Diversity: Increased global mobility results in more culturally
diverse societies. The presence of diverse cultural groups can pose
challenges and opportunities for social integration and cohesion.
Challenges to Traditional/local Cultural Identity: The influence of global
media, entertainment, and consumer culture can challenge traditional
cultural values, sometimes leading to resistance and backlash.
Many communities failed to preserve their old tradition, custom, and
culture. Being attracted by the culture of developed nations, many people in
under-developed nations have shed their traditional dress, food, rituals,
etc,. (They misunderstood Modernization culture with Westernization
especially through media).
The spread of communicable diseases from one country to another
country (SARS, AIDS, Swin-flue, COVID-19, etc). Diseases spread to
local places when a diseased person from a foreign country comes in
contact with local inhabitants.
Due to Globalization, the values and norms of developed countries
are gradually rooted in developing countries. This leads to the growth
of a hegemonic culture (cultural hegemony) - the culture of the north
(developed countries) being imposed on the South (developing
countries).
This involves the erosion and loss of the identity and the cultures of
developing countries. Globalization is thus a one-way traffic: it flows
from the North to the South or from Developed countries to
developing countries.
ECOLOGICAL ISSUES/IMPACT OF GLOBALIZATION