Globalization: A Critical Analysis
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Abstract
The term globalization has been used in a multiplicity of senses. Concepts like the global interdependence of nations, the growth of a world system, accumulation on a world-scale, the global village, and many others are rooted in the more general notion that the accumulation of capital, trade, and investment is no longer confined to the nation-state. In its most general sense, globalization refers to the cross-national flows of goods, investment, production, and technology. For many of the advocates of the globalization thesis these flows, both their scope and depth, have created a new world order, with its own institutions and configurations of power that have replaced the previous structures associated with the nation-state (Reich, 1992; Oman, 1997; Luard, 1990; Waters, 1995).