...The Effects of Globalization and Neoliberalism on African Societies Globalization and neoliberalism are concepts that can be applied to the analysis of any aspect of modern day society. Social life in a particular area is filled with the constant spread of ideas, practices and beliefs due largely to globalization. This paper will provide an in depth view on the effects Globalization and neoliberalism has had on culture and development in African societies. Within Africa lies various intricate backgrounds from its colonialism roots to the shift towards globalization in the effort to promote development. Exposing the dynamics of globalization as well as its impact on African societies will lead to a better understanding of the relationship between Africa and the international community. Globalization, as defined by Held et al. , sees the issue “as a process (or set of processes) which embodies a transformation in the spatial organization of social relations and transactions--assessed in terms of their extensity, intensity, velocity and impact--generating transcontinental or interregional flows and networks of activity, interaction and the exercise of power.” (Held et al. 2004: 68), It involves the increased interaction between nations and the exchange of ideas, practices, relations and organization. (Ritzer 2008:574). One must be aware that the theory of globalization can be expressed through economic terms as well as sociologically. The...
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...itself and the world that it is unlike all other empires, that its mission is not to plunder and control but to educate and liberate." – Edward W. Said “Life and Debt” is a documentary directed by Stephanie Black with the screen play and voice over done by Jamaica Kincaid about how the IMF, the World Bank, and the World Trade Organizations destroyed Jamaica economically. This movie is based specifically on what happened in Jamaica but it is a model for how the IMF and first world countries have impacted the rest of the world. The film is about globalization and exposing first world countries, mainly the United States, for destroying third world countries. The Oxford English dictionary defines a documentary as a factual, realistic, applied esp. to a film or literary work, etc., based on real events or circumstance, and intended primarily for instruction purposes. “Life and Debt” mostly follows this definition because it does present real factual information, although it varies a little from the definition of a documentary because it is a little biased on the side of Jamaica. Another critical concept from the film is the term globalization. The Oxford English Dictionary defines globalization as the action, process, or fact of making global; esp. (in later use) the process by which businesses or other organizations develop international influence or start operating on an international scale, widely considered to be at the expense of national identity. For Jamaica this means entering...
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...I’d like to think that at least in the beginning, when the concept of a “global economy” or “global marketplace” was introduced, whoever gave meaning and existence to the word “globalization” meant well. In layman’s terms, globalization is worldwide interdependence. In reality, however, globalization takes on a much more grim definition. In the next few paragraphs, I will strive to explain some key elements that contribute to the continuing widening of the gap between metropolitan and peripheral countries. First, we must understand that globalization does not function as a means to pursue the mutual interests of countries. Although underdeveloped countries play a role in the international economy, their development, we can argue, is dictated by the needs of the more dominant economies. In essence, underdeveloped countries have no real autonomy of their industries; instead of an independent basis for functioning, they merely produce goods that are needed by dominant economies. This is the economic exploitation of underdeveloped countries. There is a belief that foreign investments from multinational corporations are good for the host country’s economy. It is often forgotten that multinational corporations thrive and exist for only one purpose – to make a profit. Yes, they create job opportunities for citizens of the host nation; however, along with their emergence comes a host a problems such as environmental degradation, unjust labor practices, and the undermining of the sovereignty...
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...Did the experience of emerging countries fully justify the prediction of neo-classical model of financial market globalization? Why or why not? Financial Globalization stems from the idea of Neoclassical Economics where efficient allocations of resources will bring prosperity to nations through globalization. Financial globalization is an aggregate concept that refers to increasing global linkages created through cross- border financial flows. The theory predicts the capital will flow from the more to less developed countries and all nations will gain as a result. However, in reality where market failures and information asymmetries exist, the results of financial globalizations are conflicting with its ideology. Especially in the emerging markets where the economies are even more highly distorted than the developed ones. Studies show mixed results regarding the effects of financial globalization on developing economies. Though the strong supporter of financial globalization are international organization such as IMF, World Bank and United Nations, many academics argued that the theory did not benefit the developing economies, yet worsening them. This essay will be critically analyzed the impacts of financial globalization on emerging countries in economic and social aspects. Growth In principle, financial globalization is greatly beneficial to economic growth in developing countries. Reduction in cost of capital, technology transfer and development of financial sectors...
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...and analyze how globalization and other factors have had an impact on them from a social, political, and economic perspective. During the late part of the 20th century, the International Monetary Fund and other organizations collaborated with countries that were struggling economically and offered financial assistance and the creation and implementation of policies. Globalization has had a significant impact on countries around the world; both positive and negative outcomes have resulted from various factors pertaining to globalization. Revolutions such as the Arab Spring uprisings have been influenced by aspects of globalization, such as the changing political sphere and the unstable economic market. Furthermore, the revolutions are more successful in contemporary times as opposed to fifty or one hundred years ago because globalization has provided the world with many comforts, such as the convenience individuals possess in the usage of technology—namely social networking websites. Therefore, it is important to analyze and examine the social, political, and economic changes that have been brought about by globalization, the changing global-politics, as well as social and economic issues that may have caused by or formed after military conflict. India and Vietnam are two countries that are quite similar in terms of GPD per capita rates, life expectancy, and other factors and are a perfect set of nations to examine and analyze in terms of the impact globalization has had on them...
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...KEY CONCEPTS Part I: Modern Politics: State and Citizens You will find listed below the key concepts for each lecture and chapters from the text. These concepts are what you will be tested on. They will appear on the midterm quiz, in the form of multiple choice questions and in the final exam will be the basis of both the short answer and longer essay questions. Please note that some of the concepts listed under lectures are also covered in the readings, sometimes in more than one chapter. Lec. 1-2 What is Politics? Concepts from the Lecture: Politics ‘Polis’ Plato Machiavelli Modern Age Thomas Hobbes Leviathan Concepts from the Texts: ‘Simile of the Cave’ ‘fortuna’ philosopher-king Behavioural Approach Class Analysis Elite theory Pluralism Institutionalism ‘Power to’ vs. ‘Power over’ Lec. 3 What is the State? Concepts from the Lecture: Treaty of Westphalia Social Contract Legal-institutionalism Branches of State Levels of State Elitism Pluralism Additional Concepts from the Texts: Night Watchman State Neo-liberal state Welfare State Liberal Democracy Lec. 4 The State: Power, Authority, and Sovereignty Concepts from the Lectures and Readings: Power Authority Sovereignty Weber’s Typology of Authority Concepts from Readings: See Lec. 3 concepts Lec. 5 Political Ideologies: Liberalism Concepts from the Lecture Ideology Left vs. Right ideologies John Locke/ Two Treatises of Government J.S...
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...Abstract Economic globalization has augmented worldwide trade, investments, technology transfer, and communication as well the competition and dependencies between nations. The growth of liberalization in telecommunications and Internet has accentuated these effects creating a truly global village. The observable heterogeneity of the global growth process led to a large body of empirical and theoretical research with the main conclusion that the hypothesis of absolute convergence formerly predicted by growth economists does not hold. That is, not all countries do automatically converge to the same steady state position. As a result, depending on a number of factors, countries would tend to cluster on certain "conditional convergent equilibria". These will depend on essentially the investment rate, human capital endowment, the R&D intensity and integration into world markets. Further, empirical results strongly support the hypothesis that only countries with sufficient abilities to innovate or acquire new technologies are able to converge in terms of their productivity levels and income. Keywords: Globalization, Economic Growth, Innovation Globalization (Cheal, 1997) defines economic globalization as, A process of increasing economic integration between two countries, bringing about the emergence of a global marketplace, or a single world market (p 647). Despite the fact that globalization has been in the making for the past couple of decades. Ever since...
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...1 TOPIC it means, globalization is going to happen. The world is going to get more connected, and thus increases communication, transportation and technologies. Arguing against it seems pointless, we all can't go back to being isolationists. The term ‘Globalization' has become skewed from its original meaning. In essence, it means the increasingly global scope of everything from travel to trade. In describing this globalizing trend, former UN Secretary General Kofi Annan states that, "Arguing against globalization is like arguing against the laws of gravity." Annan is claiming that the power to globalize, whether for humanitarian or corporate reasons, is such that no one and nothing can resist the urge to grow and learn. He is, in fact, describing universal and human nature. The universal forces of attraction, or gravity, cause any body with inherent mass to both attract and be attracted by other bodies with inherent mass, with the result that the smaller ones are drawn toward or are engulfed by the larger ones. Annan's comparison of these forces to those of globalization creates a very clear image of regional and national affairs gravitating toward or becoming international ones. He is referring to the corporate takeover of one company by another or the merging of several to become a conglomerate. He is referring to an airplane assembly line using parts made from 57 different companies in as many countries. He is referring to the capacity to engage in overseas warfare...
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...Causes of Globalization While it is truethat state ventures (or adventures) have at times driven the process, e.g. the colonial conquests, the globalization process has largely reflected market forces, specifically, the exploitation by large and smaller businesses in the world of benefits from trade in commodities, goods, services, capital, and even labor, and of opportunities for new investments and markets. The process of global economic integration was perpetrated at the behest of World War II, when the leaders of Britain and the US helped establishing the World Bank and International Monetary Fund in 1944 to promote a liberal, capitalist world to counter the shadows of Socialism and Marxism. The loans are granted by IMF and WB on the condition that the borrowing country will reduce the state's role in the economy, lower barriers to imports, remove restrictions on foreign investment, eliminate subsidies for local industries, reduce spending for social welfare, cut wages, devalue the currency, and emphasize production for export rather than for local consumption. Such conditions imposed laid the basic foundation to open economies to steer the mechanism of economic integration giving birth to the World Trade Organization. By mid 1950s Pakistan had become a favorite candidate for receiving the benefits pledged by President Truman, having joined the network of international defense treaties with the United States. It marked the beginning of...
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...In popular opinion, globalization is a synonym for one or more of the following phenomena: -the pursuit of “free market” -policies in the world economy, “economic liberalization” -the growing dominance of western culture -the proliferation of new information technologies -humanity becoming one single unified community in which sources of social conflict have vanished, “global integration”. Covering a wide range of distinct political, economic, and cultural trends, the term “globalization” has quickly become one of the most fashionable contemporary debates. Moreover, sharp differences continue to separate participants in this ongoing debate. “The anti-globalization movement is critical of the globalization of capitalism. Participants base their criticisms on a number of related ideas”. Supporters of this movement stand in opposition to the unregulated political power of large, multi-national corporations and against the rules of the trade agreements. Specifically, corporations are accused of seeking to maximize profit at the expense of unregulated work safety conditions and standards, labour hiring and compensation standards, environmental conservation principles, and “the integrity of national legislative authority, independence and sovereignty”. Anti-globalization activists base their fundamentals generally on democratic representation, human rights and more egalitarianism among states. The US Global Justice Movement, the UK Trade Justice Movement and the Alter-globalization...
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...Course Overview This course seeks to examine the major international financial organizations which have emerged and survived in the international system in the post World War II era. Emphasis will be placed on the Bretton Woods institutions, namely the International Monetary Fund (IMF) and the World Bank (WB). Course Objectives • To show the relationship between the theoretical and practical dimensions of International Financial Organizations in relation to mainstream IR theories and in the subfield of International Relations known as International Political Economy • To introduce students to the major international financial institutions which have impacted on world politics in the post World War II era • To critically assess the roles, contributions, operations and prescriptions of these organizations particularly in the context of developing countries • To locate these organizations within the theoretical realm of the development problematique of the Third World You can realize these objectives by • Regular and punctual lecture and tutorial attendance. • Tutorials are mandatory, roll will be taken and there will be no pandering to absenteeism. Students must attend 75% tutorials otherwise students will be debarred from writing exams. • Frequently assimilating and reviewing lecture notes • Reading all recommended articles and relevant chapters from the designated textbooks before attending class since lectures frequently make references to and offer perspectives...
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...amongst nations and sharing of ideas and technology has been termed as “Globalization”. Globalization has been a buzzword of late, with heated discussions about its pros and cons. Some consider it to be a blessing for mankind while others take it as a curse. For some it has brought about material prosperity while others have become unemployed due to it. This paper tries to analyse the effect of Increased International Trade and Globalisation on the US economy. The first section discusses the pros and cons of Globalization while the second section discusses how globalization has lead to increased foreign trade. Thereafter, it discusses the effect of globalisation and increased foreign trade on the American economy. Introduction Trade is believed to have taken place throughout much of recorded human history, whether as barter or in exchange of currency. Till the 1800’s, trade was limited due to difficulties in transportation, communication and restrictive trade policies. However, in the mid 19th century, with advent of free trade and nation advantage concepts, trade started to pick up (Daniels & Sullivan, International Business and Operation). Although international trade has been present throughout much of history, for example Silk Route, its economic, social, and political importance have increased in recent centuries, mainly because of Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing. Worldwide, countries are doing...
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...Introduction Globalization, widely recognised as a positive influence, is actually harming the socioeconomic development of the majority of African and developing countries, it has contributed to their decline in all sectors of the economy. Before further elaboration, it is fundamental to define the term ‘’globalization’’. Globalization is defined by the United Nations Poverty and Development Division, as “an increasing interaction across national boundaries that affects many aspects of life: economic, social, cultural and political” (Chanboracheat, 2012, p.1). However, “While many people warmly welcome these integrations, there are some who raise doubts over its benefits for developing countries” (Chamboracheat, 2012, p.1). The benefits of globalization are fairly widely recognized: a) decrease in technological differences, b)knowledge and information become accessible to all, c) the rights of nature and animals are more protected than before and d) nations of the world become more interdependent. Sports, entertainment of all kinds reinforce cohesion and reconciliation between different nationalities. Countries suffering from natural or human disasters quickly receive support from other countries etc. This support alleviate the suffering of victims, and man becomes a citizen of the world. However, if one does a cost-risk and profit-effect analysis, what can be said to the overall effect of globalization? Is it positive? Is it negative? Globalization, as it exist today...
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...for contributing to ‘globalization with a human face’? Essay Number: 707004 Word Count: 3491 I. Introduction While globalization processes have propelled the world into an era of shrinking borders, rapid technological advances and intensifying connectedness, global civil society has risen at an equally rapid pace. Though global civil society is not a new phenomenon, the realm has become increasingly compelling in light of the explosion of civil society institutions that constitute a truly global sphere (Falk, 2000). By 2002, more than 30,000 international nongovernmental organizations existed alongside more than 20,000 global civil society networks, ninety percent of which had emerged during the previous three decades (Edwards, 2002). As numbers continue to increase, the true estimate of global civil society institutions is likely in the millions (Matthews, 2003). The growth of global civil society in the era of globalization leads naturally to questions regarding the institutions included in this sector and their contributions to the processes of globalization. Consequently, this essay will review the institutions that comprise the emerging global civil society and critically assess their potential to promote ‘globalization with a human face’, as defined by the 1999 United Nations Human Development Report. Many global civil society actors have developed with missions to combat the destructive forces of globalization. The discussion will...
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...What is Globalization? Globalization refers to the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees. Globalization leads to economic growth in developed and developing countries through increased specialization. It also refers to the mixture of ideas, languages and cultures. Globalization leads to decreasing inter-cultural contact while increasing the possibility of international and intra-national conflict throughout the globe. It is like moving towards living in a borderless world. * WTO (world trade organization) is an organization who laid down guide lines or code of conduct to the economies those are in developing phase or developed as well .WTO provides a platform where economies can freely trade there commodities without any manipulation. * IMF (international monetary fund) is an international organization with 146 members, which also includes the United States. The main functions of the International Monetary Fund are to lend funds to their member nations to overcome their solution of payment and financial problems temporarily and to increase the race of Globalization in the economies that are today behind this world, and to promote the nations that are in scarcity or in need of help from developed economies which also help in the growth of international trade system. Determinants of globalization:- * Tourists/Migration * Trade ...
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