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Impact of globalization on development
Effects of globalization on the world economy
Effects of globalization on the world economy
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Global Capital and Delocalization
“Ideological celebration of so-called globalization is in
reality the swan song of our historical system.”
Immanuel Wallerstein
In Epilogue II of War and Peace, which often goes unread, Tolstoy berates modern Historians who “ought to be studying not the manifestations of power but the causes which create power” if they are to provide a “description of the flux of humanity and of peoples”. Alas they act “like a deaf man answering questions no one has put to him.” This serious methodological defect highlighted by Tolstoy over a hundred and fifty years ago is still often committed not only by historians but by many of their colleagues in the social sciences. The results of such flawed cognitive processes dominate the field of Economic Development, Environmental Studies and what passes for analysis in the ubiquitous phenomenon of Globalization to name just three areas.
One illustration of the shortcomings of such models can be seen clearly in the efforts of The Group of Industrialized Countries, G 8 to deal with the ever spiraling level of poverty and deprivation on the African continent. The G 8 decided in 2005 to stem this downward cycle by lending its strong approval to the UK’s “Commission for Africa” plan spearheaded by the then Chancellor of the Exchequer Gordon Brown and the support of the PM Tony Blair in addition to the rather lukewarm support of the US administration. Fundamentally, the plan was based around the idea that a write off of the debt of the countries in question is the prescription for leading these countries out of poverty and dependency. Unfortunately, this scheme of increased money grants has been tried before with dire results. The level of sincerity...
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...d Zinn on War. (Seven Stories Press)
Kagan, Robert (2004) “Europe and the US See the World in Vastly Different Ways” in New York Times. January 24.
Marx, Karl and Engels, F. “The Communist Manifesto”.
Young, Wesley. (2005) “The Philosopher and the Ayatollah” in Boston Globe of June 12.
Kagan, Robert. (2002) “Power and Weakness’ in Policy Review. June.
Borradori, Giovanna. (2003) Philosophy in a Time of Terror: Dialogue with Jurgen Habermas and Jacques Derrida. (University of Chicago Press).
Friedman, Thomas (2005) in an Op-Ed in the New York Times. (June, 3)
Galbraith, John Kenneth. (2004) The Economics of Innocent Fraud: Truth for Our Time. (New York: Houghton Mifflin)
Hardt, Michael and Negri, Antonio. (2001) Empire (Boston: Harvard College Press).
Korten, David. (1995) When Corporations Rule the World. (Kumerian Press)
Madura, Jeff. What Every Investor Needs to Know About Accounting Fraud. New York: McGraw-Hill, 2004. 1-156
Flory, Harriette, and Samuel Jenike. A World History: The Modern World. Volume 2. White Plains, NY: Longman, 1992. 42.
Ulam, Adam B. "The Convolutions of Terror." Ideologies and Illusions: Revolutionary Thought from Herzen to Solzhenitsyn. Cambridge: Harvard UP, 1976. 311-20. Print.
Time. November 20, 1989 Wallace, Charles P., “Across the Great Divide.” Time Europe. Nov. 15, 1999
As I began my research for this essay, it became clearly obvious that there is no consensus on the roots of nations. From Gellner to Smith, a million little points in time and space can be credited for the creation of a nation, which in itself carries various meanings and connotations. Believing that both modernists, who interpret nationalism as being associated with industrial economy and centralized authority, and primordialists, who argue nations are ancient and natural phenomena, make valid points, I have opted to adhere to Michael Mann’s explanation that the structure of nations ‘had multiple causes and stages cascading on top of each other in unexpected and unfortunate ways. They were contingent because different causal chains, each of which we can trace and explain quite well, came together in a way that we cannot explain in terms of either of them, yet which proved timely for the outcome’ (Mann 2012: 3). Nevertheless, despite the range of explanations for nationalism, one concept is reoccurring. Humans, either in their local, state or international societies, are driven by power, and those who have the ability to force their decisions upon others yield power. Regardless of the fact that colonialism and imperialism are no longer recognized as current practices, international society still exists under the umbrella of neo-colonial influences, of which globalization is a product of.
Hanson, J. R. (n.d.). Fraud or confusion? RDH Magazine, 19(4). Retrieved 3 15, 2014, from http://www.rdhmag.com/articles/print/volume-19/issue-4/feature/fraud-or-confusion.html
Perri, J.D., CFE, CPA, F. (2011, January/February). White-collar crime punishment too much or not enough?. FRAUDMAGAZINE, Retrieved from http://www.all-about-forensic-science.com/support-files/white-collar-crime-punishment.pdf
In Marshall G. S. Hodgson’s article, The Interrelations of Societies in History, the idea of our egocentrism influencing our perception and education of history is more deeply explored and analyzed. The piece outlines how history primarily focuses on Western Civilization, although in reality the studies are usually only on European states. It argues that large scale history should be studied not as individual areas that are separate in nature, but through the interrelations throughout these societies in world history. In other words, that the achievements, declines, successes, and failures of all world societies through history have been connected to one another in some way, and it is impossible to understand a time period without understanding first the connections of societies. Hodgson makes this argument through two main points, first there is critiques of the current models of studying world history for their lack of interrelational studies. Second, he presents his own method of tracing large scale history by comparing societies involved in history. The Interrelations of Societies in History presents a theory on the faults with
Iggers opens the book by talking about a revolutionary way that the Western world was taught about history. Throughout the book he ascertains the changes that take place throughout historiography and the nature of history itself. He also examines prior historical notions and the way that historiography was altered after World War II. History morphed from previous antiquarian teachings into a deeper, more evaluated approach. Historians gained a more intimate relationship with postmodern ideas and began looking at history in an objective manner using contemporary discipline. Iggers studies the way postmodernism was changed by new social sciences which allowed more detail into cultural influences and the problems surrounding globalization theories. He also explains the birth of microhistory which replaced macrohistory.
Unattributed, (2009, April 187). Combat Fraud of Almost $1 Trillion, Retrieved March 03, 2014 from Internet site http://ethicaladvocate.blogspot.com/
Weld, L. G., Bergevin, P. M., & Magrath, L. (2004). Anatomy of a financial fraud. The CPA
Many historians and sociologists have identified a transformation in the economic processes of the world and society in recent times. There has been an extensive increase in developments in technology and the economy as a whole in the twentieth century. Globalization has been recognized as a new age in which the world has developed into what Giddens identifies to be a “single social system” (Anthony Giddens: 1993 ‘Sociology’ pg 528), due to the rise of interdependence of various countries on one another, therefore affecting practically everyone within society.
Why nations Fail: The Origins of Power, Prosperity, and Poverty, is a captivating read for all college economic courses. Coauthored by Daron Acemoglu and James A. Robinson, they optimistically attempt to answer the tough question of why some nations are rich and others are poor through political economic theories. They lay it all out in the preface and first chapter. According to Acemoglu and Robinson, the everyday United States citizen obtains more wealth than the every day Mexican, sub-Saharan African, Ethiopian, Mali, Sierra Leonne and Peruvian citizen as well as some Asian countries. The authors strategically arranged each chapter in a way that the reader, whomever he or she is, could easily grasp the following concept. Extractive nations that have political leadership and financial inconsistencies within their institutions are the largest contributor to poverty and despair within most countries. It also states that countries with socioeconomic institutions that work ‘for the people and by the people’, or in other words, focus on the internal agenda of that
Rifkin, Jeremy. The European Dream: How Europe's Vision of The Future is Quietly Eclipsing The American Dream. New York: Tarcher/Penguin, 2004.
Modernisation theory has been a dominant theory since post-World War II (McMichael 2012:5) to describe development and social change. It is structured and outlined through five different stages of 'development ladder' proposed by Walt Whitman Rostow in The Stages of Economic Growth: A Non-Communist Manifesto. (1961:4) The first premise of modernisation theory reflected by 'development ladder' is that development happened in a sequential process through stage by stage while the second premise underpinned by ‘development ladder’ is conformity towards West's values and norms. However, these two premises are found to be problematic as they are neglecting the differences in societies and assuming that the 'development ladder' system is applicable to all societies. Thus, Rostow's 'development ladder' is highly challenged as it gathers a lot of critiques.