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Globalization in Economics and International Relations Essay (Critical Writing)


Introduction

Globalization is a topic that has been actively discussed over the last few years and has drawn the attention of many scholars. The understanding of related processes is vital to any individual interested in this area, and the knowledge gained may be utilized in the future in many fields related to international relations.

Analysis

Wallerstein discusses the impact that the capitalist system has on the global economy and draws attention to its limitations. The researcher argues that it would not function if free markets existed all over the world because the bargaining power of customers would increase dramatically (Wallerstein 58). The author also suggests that almost every country has its role and that production processes are dependent on a broad range of factors and other states.

Concerns about stagnation are reasonable in this case, but history has shown that the system is capable of regulating itself. Sklair focuses on the transnational aspects of globalization and suggests that some of the activities may lead to destabilization. The claim that the transnational capitalist class is capable of ruling the world may be questionable, but the idea does have some merit because many individuals are extremely influential (Sklair 66).

Harvey devotes the most attention to the discussion of neoliberalism and its history. The author suggests that government regulations should be limited to ensure that the system can function properly (Harvey 71). However, this is often not the case, and a broad range of policies may create significant barriers to entrepreneurs. Moreover, its weaknesses should be acknowledged. Such factors as unemployment rates and economic inequality are critical because they continue to significantly affect the worldwide population today. Meyer et al. provide many pieces of evidence to support their statement that most of the aspects of modern nation-states originate from global models that gained popularity through cultural processes (77).

The idea that they are not formed as a result of internal factors is quite controversial, but such factors as conformity to global views have affected the events in many states throughout the course of history. Robertson regards globalization as a critical problem and argues that the conjunction of different beliefs and cultures leads to the introduction of numerous constraints (88). It is hard to argue with this perspective because it is evident that certain countries have an enormous influence all over the globe and that their traditions are copied. Appadurai draws attention to the conflict between homogenization and heterogenization, as well as other aspects related to the cultural economy (96).

The author’s suggestion that the introduction of such factors as the Internet has increased the speed of globalization processes is reasonable. Furthermore, globalization may lead to problems when countries start to lose their cultural identities.

Conclusion

In conclusion, it is clear that all of the authors recognize that globalization has both its benefits and disadvantages. Moreover, the situation is complicated by the fact that such concepts as capitalism, transnationalism, and others are all interconnected. Overall, such information is incredibly valuable and should be analyzed by any individual interested in international relations.

Works Cited

Appadurai, Arjun. “Disjuncture and Difference in the Global Cultural Economy.” The Globalization Reader. Ed. Frank J. Lechner and John Boli. Hoboken: NJ, 2015. 94-102. Print.

Harvey, David. “A Brief History of Neoliberalism.” The Globalization Reader. Ed. Frank J. Lechner and John Boli. Hoboken: NJ, 2015. 71-76. Print.

Meyer, John, W., John Boli, George M. Thomas and Francisco O. Ramirez. “World Society and the Nation-State.” The Globalization Reader. Ed. Frank J. Lechner and John Boli. Hoboken: NJ, 2015. 77-85. Print.

Robertson, Roland. “Globalization as a Problem.” The Globalization Reader. Ed. Frank J. Lechner and John Boli. Hoboken: NJ, 2015. 86-93. Print.

Sklair, Leslie. “Sociology of the Global System.” The Globalization Reader. Ed. Frank J. Lechner and John Boli. Hoboken: NJ, 2015. 63-70. Print.

Wallerstein, Immanuel. “The Modern World-System as a Capitalist World-Economy.” The Globalization Reader. Ed. Frank J. Lechner and John Boli. Hoboken: NJ, 2015. 56-62. Print.

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IvyPanda. (2020, August 31). Globalization in Economics and International Relations. Retrieved from https://ivypanda.com/essays/globalization-in-economics-and-international-relations/

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"Globalization in Economics and International Relations." IvyPanda, 31 Aug. 2020, ivypanda.com/essays/globalization-in-economics-and-international-relations/.

1. IvyPanda. "Globalization in Economics and International Relations." August 31, 2020. https://ivypanda.com/essays/globalization-in-economics-and-international-relations/.


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IvyPanda. "Globalization in Economics and International Relations." August 31, 2020. https://ivypanda.com/essays/globalization-in-economics-and-international-relations/.

References

IvyPanda. 2020. "Globalization in Economics and International Relations." August 31, 2020. https://ivypanda.com/essays/globalization-in-economics-and-international-relations/.

References

IvyPanda. (2020) 'Globalization in Economics and International Relations'. 31 August.

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