Three Dominant Perspectives in The Study of Globalization

GLOBALIZATION
(Steger, 2005) elaborated the concept of

Globalization as something..
■ “confined to a set of complex, sometimes
contradictory, social processes that are changing
the current social condition based on the modern
system of independent-states.
– It is the result of political, economic, cultural
change and technological innovations.
THREE DOMINANT
PERSPECTIVES IN THE
STUDY OF
GLOBALIZATION
1. Economic Liberalism
2. Mercantilism
3. Structuralism
Economic Liberalism (Neoliberalism)
■ A political and economic
ideology that attempts to improve
human well-being by promoting
individuals self-interest.
■
Economic Liberalism
■ it advocates for the withdrawal of
government interventions in the
economy (such as tariff and quotas),
but also government services)
Economic Liberalism
(Neoliberalism)
■ strives for the free movement of goods,
services, people and money.
Mercantilism
■ economic nationalism
■ focuses on state efforts to accumulate
wealth and power to protect society
from physical harm or other states
Mercantilism
■ its policy tool: protectionist

industrial and trade policies
oftentimes necessary to make
markets work and enhance
national wealth
Protectionism
■ refers to government actions and policies

that restrict or restrain international trade
for the benefit of the single domestic
economy. (Investopedia,2019)
■ Protectionist policies are usually
implemented with the goal to improve
economic activity within a domestic
economy but can also be implemented for
safety and quality concerns. (Investopedia,2019)
Structuralism
■ focuses on how different social classes are
shaped by the dominant economic
structure.
■ the state controls the economy, prices are

set by state officials and emphasis on state
planning and agenda setting
Structuralism
■ Its policy tool: monetary, fiscal and

fair trade policies that redistribute
income to everyone in society
Six Core Claims Of
Globalization (Steger, 2005)
Six Core Claims Of Globalization (Steger, 2005)
■ 1. globalization is about the liberalization and

global integration of markets
■ 2. globalization is inevitable and irreversible
■ 3. nobody is in charge of globalization
■ 4. globalization benefits everyone (…in the long
run)
■ 5. globalization furthers the spread of
democracy in the world
■ 6. globalization requires a global war on terror
Drivers of Globalization
■ 7. Decline of barriers to the free flow of goods,
services, and capital
■ 8. Technology. Transformed globalization by
promoting a “borderless world that allowed the
effortless entry and exit of goods.
Claim 1.: globalization is about the
liberalization and global integration of markets
■ In “globalization”, it requires the

necessary move for “liberalization” of
market for the “integration” with
countries, regardless of the political and
cultural preferences expressed by local
citizens, to happen.
Claim 2.: globalization is inevitable
and irreversible
■ nobody can stop globalization
■ globalization exists
– “It is a reality of the modern world. The process
is irreversible. But the importance is for countries
to be responsive to a broad range of political,
social, cultural and economic issues. (former
Sentaor Manny Villar)
Claim 3: nobody is in charge of
globalization
■ In globalization, there exists a “self-

regulating market”.
– This means that no one is in control, not
controlled by any individual, any
government, or any institution.
Claim 4: globalization benefits
everyone (…in the long run)
■ The idea in globalization is that eventually all

countries will experience “economic growth”
and “prosperity”.
– However, the pace that each country moves
differs depending on the whether the countries
are at the periphery or at the center
Claim 5: globalization furthers the
spread of democracy in the world
■ globalization allows the spread of democracy
on the proximity to “market” and the making of
economic choices
– Although globalization and capital development
do not automatically produce democracies, the
level of economic development resulting from
globalization is conducive to the creation of
complex civil societies with a powerful middle
class.
Claim 6: globalization requires a
global war on terror
■ the desired spread of globalization makes it

prone for countries to experience acts of
terror, thus, are require to fight terrorism
DRIVERS OF
GLOBALIZATION
1. Decline of barriers to the free flow
of goods, services, and capital
■ France, Germany, Italy, Japan, Holland, Sweden, UK
and US removed economic barriers and allowed the
free flow of goods, services and capital between
nations after World War II.
– These resulted to different countries to trade goods
and share their resources which eventually lead to
some countries develop
General Agreement on Tariffs and
Trade (GATT)
■ first multilateral free trade agreement
■ aimed to eliminate trade protectionism
that took effect on June 30, 1948 until
January 1995.
Requirement:
■ Each member must confer most favored
nation status.
– all members will be treated equally
when it comes to tariff.
– GATT prohibited restriction on the
number of imports and exports
2. Technology. Transformed globalization by
promoting a “borderless world that allowed the
effortless entry and exit of goods.
■ Example: Philippines active involvement in the ASEAN
integration
– This will ensure that the country will be able to compete
with other member country by lowering the taxes that
each country might incur which will result to lower prices
of goods and services in the country
– have access also to goods which we do not have before
– higher & better working opportunity with other ASEAN
country
– easy travel in and out of the ASEAN region
■ When people trade, how do both
sides (two or more countries) benefit?

Three Dominant Perspectives in The Study of Globalization

Uploaded by

Copyright:

Available Formats

Three Dominant Perspectives in The Study of Globalization

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Three Dominant Perspectives in The Study of Globalization

Uploaded by

Copyright:

Available Formats

GLOBALIZATION

(Steger, 2005) elaborated the concept of

■ its policy tool: protectionist

■ refers to government actions and policies

■ the state controls the economy, prices are

■ Its policy tool: monetary, fiscal and

■ 1. globalization is about the liberalization and

■ In “globalization”, it requires the

■ In globalization, there exists a “self-

■ The idea in globalization is that eventually all

■ the desired spread of globalization makes it

You might also like