Globalisation, of course, is therefore a manifestation of a neo-liberal economic ideology.
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, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

: all those processes by which the peoples of the world are incorporated into a single world society. : Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa. For eg. Recession US eg
The International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people and the dissemination of knowledge. Further, environmental challenges such as climate change, cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization. Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment.
Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization.
To find the right balance between benefits and costs associated with globalization, citizens of all nations need to understand how globalization works and the policy choices facing them and their societies. Over the last three decades a fundamental shift has been occurring in the world economy. We have been moving away from a world in which national economies were relatively self-contained entities, isolated from each other by barriers to cross-border trade and investment; by distance, time zones, and language; and by national differences in government regulation, culture, and business systems. And we are moving toward a world in which barriers to cross-border trade and investment are declining; perceived distance is shrinking due to advances in transportation and telecommunications technology; material culture is starting to look similar the world over; and national economies are merging into an interdependent, integrated global economic system. The process by which this is occurring is commonly referred to as globalization . n today’s interdependent global economy, an American might drive to work in a car designed in Germany that was assembled in Mexico by Ford from components made in the United States and Japan that were fabricated from Korean steel and Malaysian rubber. She may have filled the car with gasoline at a BP service station owned by a British multinational company. The gasoline could have been made from oil pumped out of a well off the coast of Africa by a French oil company that transported it to the United States in a ship owned by a Greek shipping line. While driving to work, the American might talk to her stockbroker on a Nokia cell phone that was designed in Finland and assembled in Texas using chip sets produced in Taiwan that were designed by Indian engineers working for Texas Instruments. She could tell the stockbroker to purchase shares in Deutsche Telekom, a German telecommunications firm that was transformed from a former state-owned monopoly into a global company by an energetic Israeli CEO. She may turn on the car radio, which was made in Malaysia by a Japanese firm, to hear a popular hip-hop song composed by a Swede and sung by a group of Danes in English who signed a record contract with a French music company to promote their record in A merica. The driver might pull into a drive-through coffee shop run by a Korean immigrant and order a “single, tall, nonfat latte” and chocolate-covered biscotti. The coffee beans came from Brazil and the chocolate from Peru, while the biscotti was made locally using an old Italian recipe. After the song ends, a news announcer might inform the American listener that antiglobalization protests at a meeting of the World Economic Forum in Davos, Switzerland, have turned violent. One protester has been killed. The announcer then turns to the next item, a story about how financial crisis that started in the United States banking sector may trigger a global recession and is sending stock markets down all over the world. T his is the world in which we live. It is a world where the volume of goods, services, and investment crossing national borders has expanded faster

Neo liberalism
Neo-liberalism" is a set of economic policies that have become widespread during the last 25 years or so. Although the word is rarely heard in the United States, you can clearly see the effects of neo-liberalism here as the rich grow richer and the poor grow poorer.
"Liberalism" can refer to political, economic, or even religious ideas. In the U.S. political liberalism has been a strategy to prevent social conflict. It is presented to poor and working people as progressive compared to conservative or Rightwing. Economic liberalism is different. Conservative politicians who say they hate "liberals" -- meaning the political type -- have no real problem with economic liberalism, including neoliberalism.
"Neo" means we are talking about a new kind of liberalism. So what was the old kind? The liberal school of economics became famous in Europe when Adam Smith, an Scottish economist, published a book in 1776 called THE WEALTH OF NATIONS. He and others advocated the abolition of government intervention in economic matters. No restrictions on manufacturing, no barriers to commerce, no tariffs, he said; free trade was the best way for a nation's economy to develop. Such ideas were "liberal" in the sense of no controls. This application of individualism encouraged "free" enterprise," "free" competition -- which came to mean, free for the capitalists to make huge profits as they wished.
Economic liberalism prevailed in the United States through the 1800s and early 1900s. Then the Great Depression of the 1930s led an economist named John Maynard Keynes to a theory that challenged liberalism as the best policy for capitalists. He said, in essence, that full employment is necessary for capitalism to grow and it can be achieved only if governments and central banks intervene to increase employment. These ideas had much influence on President Roosevelt's New Deal -- which did improve life for many people. The belief that government should advance the common good became widely accepted.
But the capitalist crisis over the last 25 years, with its shrinking profit rates, inspired the corporate elite to revive economic liberalism. That's what makes it "neo" or new. Now, with the rapid globalization of the capitalist economy, we are seeing neo-liberalism on a global scale.
The main points of neo-liberalism include:
1. THE RULE OF THE MARKET.
2. CUTTING PUBLIC EXPENDITURE FOR SOCIAL SERVICES
3. DEREGULATION.
4. PRIVATIZATION.
5. ELIMINATING THE CONCEPT OF "THE PUBLIC GOOD" or "COMMUNITY

Modernity
Generally, the meaning of modernity is associated with the sweeping changes that took place in the society and particularly in the fields of art and literature, between the late 1950s and the beginning of Second World War. There is, however, no clear demarcation by date, and although the term ‘postmodern’ is increasingly used to describe changes since the Second World War, there are some who argue that modernity persists, and others who see its demise as having occurred much earlier.
When modernity is explained in terms of history, it is said that the world first experienced renaissance, and then, enlightenment and thereafter modernity and postmodernity. As a matter of fact, there is much disagreement on the precise dates of the beginning and end of modernity. There appears to be general consensus on its meaning and social formations.
In a broader way, modernity is associated with the following:
1. Industrialization and urbanization.
2. Development.
3. Democracy.
4. Capitalism.
5. Superiority of power.
6. Free market.
7. Optimism.
8. The search for absolute knowledge in science, technology, society and politics.
9. The idea that gaining knowledge of the true self was the only foundation for all other knowledge.
10. Rationality.

Modernity is a term of art used in the humanities and social sciences to designate both a historical period (the modern era), as well as the ensemble of particular socio-cultural norms, attitudes and practices that arose in post-medieval Europe and have developed since, in various ways and at various times, around the world. While it includes a wide range of interrelated historical processes and cultural phenomena (from fashion to modern warfare), it can also refer to the subjective or existential experience of the conditions they produce, and their ongoing impact on human culture, institutions, and politics (Berman 2010, 15–36).
As a historical category, modernity refers to a period marked by a questioning or rejection of tradition; the prioritization ofindividualism, freedom and formal equality; faith in inevitable social, scientific and technological progress and human perfectibility;rationalization and professionalization; a movement from feudalism (or agrarianism) toward capitalism and the market economy;industrialization, urbanization and secularization; the development of the nation-state and its constituent institutions (e.g.representative democracy, public education, modern bureaucracy) and forms of surveillance (Foucault 1995, 170–77). Some writers have suggested there is more than one possible modernity, given the unsettled nature of the term and of history itself.
Everything in the modern era seems to be in motion, change and transition toward the future. Our age is by far the most complex period in human history and the most dynamic at one. While Modernity is just a small fraction in the whole history of mankind it is certainly the age that has brought more rapid change in human life than any previous in human history (this relentless acceleration is both its essence and fate). There is a strong feeling of advancing and speeding up in the constant search for renewal. The perpetual transformations that supersede every achieved stage of development affect everything, from life style and the way how we work and govern ourselves up to the way how we think and express ourselves.
A discussion of modernity in social sciences is considered to be fashionable today. India witnessed modernity during the British rule. Before this we had feudalism of ancient and medieval periods. Our country has suffered enough at the hands of feudal rulers and colonial exploitation.
Though modernity has been introduced in this country soon after the downfall of Mughal Empire, we got democracy despite having industrialization and urbanization after the attainment of independence and the promulgation of constitution. It is reasonable to ask the question: how are we so much interested in the theory and processes of modernity?
It is certain that the European countries experienced modernity in the aftermath of enlightenment, and India after the operation of constitution. But, why are people so much involved in modernization after the lapse of such a long span of time?
It is not difficult to analyze the answer to this question. There are a large number of factors, which explain our concern for modernity. Before we attempt to define modernity, let us look at the intensification of its processes.

liberalism
* Economic: Concept that a government should not try to control prices, rents, and/or wagesbut instead let open competition and forces of demand and supply create anequilibriumbetween them that benefits the vast majorityof citizens. It differs from the doctrine of laissez faire in its acceptance of thegovernment intervention to control creation andspread of monopolies and in distributionof public good. Economic liberalism, ingeneral, favors redistribution of incomethrough taxes and welfare payments.
* Political: Concept that the preservation ofindividual liberty and maximization offreedom of choice should be the primary aim of a representative government. It stresses that all individuals stand equal before law (without class privileges) and have only a voluntary contractual relationshipwith the government. It defends freedom of speech and press, freedom of artistic and intellectual expression, freedom of worship,private property, and use of state resources for the welfare of the individual.
Nation State
The nation state is a system of organization in which people with a common identity live inside a country with firm borders and a single government. That wasn't so bad, right? But what does it all mean? The nation state has a dramatic influence on the way we live our lives. It's how we identify ourselves. I'm American. I'm Russian.
It also determines what language we speak, what laws we follow, and what holidays we celebrate. Cinco de Mayo? Boxing Day? Fourth of July? The nation state is a system of political, geographic, and cultural organization, and it is one of the most important parts of your life that you don't think about. The nation state is held together by its physical boundaries, its government, and the fact that the people believe they are connected to each other. The fundamental parts of the nation state are the nation and the state. Let's start with the state. In the broadest of terms, the state is a body of government. All the rules and laws, the government officials and their titles, the physical boundaries and those who define them - these make up the state. The state is what makes a country run from a political, practical standpoint.
The nation, on the other hand, is the people. The nation is created by a shared belief that the people inside a country are connected to each other. Whether you live in Cleveland, Denver, or San Francisco, you still share a connection with other Americans. The idea that people of a nation are connected to each other is callednationalism.
Nation states must also have a shared national culture. This is often achieved through common language, history, holidays, and education. Sometimes national culture is a result of similar people living in the same area. In the United States, the colonists began developing a unique national culture, which led to them declaring war against England and creating their own government and state.
On the other hand, sometimes the nation state begins as a government and later has to try and create a national culture. For example, when Mexico became independent from Spain, the country was too large and fragmented for the people to have developed a national culture. There were dozens of different identities. It took nearly a century for the Mexican government to develop a sense of 'Mexican-ness', or Mexicanidad in Spanish.
The government had to carefully, and intentionally, select the moments from history that all Mexicans could unite around. They had to control language, education, and holidays to make sure that all Mexicans celebrated the same national culture. Sometimes this meant violent oppression of the people who weren't cooperating. However, the government knew that without a national culture, the nation state had no real power, and it would fall back into war and chaos.