Globalization and Political Policy

1726 Words4 Pages
bulb-icon

Recommended: Effects of subprime mortgage crisis

Globalization, both as an ideology and process, has become the dominant political, economical and cultural force in the 21st century (Steger, 2002, 6). Increasingly there is a trend of policy areas that were once reserved for the state, shifting towards either being made or greatly influenced by international factors. The purpose of this paper is to examine the question: does globalization affect all policy areas equally? The view of the paper is that not all policy areas are equally influenced by globalization. The aim to support this statement by comparing the four policy areas economic, security, environment and social welfare and effect globalization has had on them. This is done by exploring two points first whether the policy issue has transcended national boundaries and second the strength of supranational organizations and transnational networks surrounding or dedicated to the policy area.

For a policy area to be substantially effected by globalization the issue needs to move beyond the boundaries of the traditional state borders. The two policies areas that have been the most influenced the globalization are security and economic policy. With economic policy since the establishment of the Bretton Woods which saw the foundation of the International Monetary Fund, national policy has increasingly been subject to international influences. As international trade has grown to unprecedented manner national economies have become more and more connected. A decision made in on country can have influence on another, as seen in the results of the subprime mortgages in the U.S. that lead to the global financial crisis in 2008. This supported by Ron Martin’s idea of globalization has lead to a delocalization of financi...

... middle of paper ...

...ge=613

Martin, Ron, “The Local Geographies of the Financial Crisis: From the Housing Bubble to Economic Recession and Beyond,” Journal of Economic Geography (2010), published online in advance of print. http://joeg.oxfordjournals.org/content/early/2010/06/11/jeg.lbq024.abstract pg 5

Steger, Manfred D. Globalism: The New Market Ideology. Rowman & Littlefield Publishers, 2002.

Woods, Ngaire “Global Governance after the Financial Crisis: A New Multilateralism or the Last Gasp of the Great Powers?” Global Policy 1:1 (January 2010), pp. 51-63. http://onlinelibrary.wiley.com/doi/10.1111/j.1758-5899.2009.0013.x/full

Yeats, Nicola “Globalization and Social Policy,” in John Baldock, Nicholas Manning, and Sarah Vickerstaff, eds., Social Policy, 3rd edn. (Oxford University Press, 2007), chapter 21.

http://www.oup.com/uk/orc/bin/9780199284979/baldock3e_ch21.pdf

Show More
Related

  • The Effects of Globalization

    659 Words  | 2 Pages

    Steger, Manfred B. Globalization: A Very Short Introduction. 3rd ed. Oxford: Oxford UP, 2013. Print.

    Read More

  • The Devastating Effects of Neoliberal Policies

    1391 Words  | 3 Pages

    Makwana, R. (2006). Globalization: neoliberalism and economic globalization. Retrieved April 05, 2014, from Share The World’s Resources website: http://www.stwr.org/globalization/neoliberalism-and-economic-globalization.html

    Read More

  • The IMF’s Role in Financial Crisis

    2219 Words  | 5 Pages

    Weiss, M.A. (2009) ‘The Global Financial Crisis: The Role of the International Monetary Fund’, CRS Report for Congress.

    Read More

  • The Impact of Multinational Corporations (MNCs) on Developing Countries

    1004 Words  | 3 Pages

    Gilpin, Robert. Global Political Economy: Understanding the International Economic Order. Princeton: Princeton University Press, 2001. Print.

    Read More

  • The Pros and Cons of Globalization

    2091 Words  | 5 Pages

    (Bilton et al 1996:5) The process of globalization has certainly had many changing effects to the world we live in; it has also changed the way many factors operate. Globalization is said "to have transformed the structure and scale of human relationships that social, cultural, political, and economic processes now operate at a global scale with a consequent reduction in the significance of other geographical scales. "(The Dictionary of human geography 2004:315) Globalization has had both positive and negative effects on a local, national, international and global level. Globalization often brings benefits at one level which cause negative effects at another, these results and the scale at which they manifest are often uncertain and unpredictable.

    Read More

  • Ffinacialization and the Housing Market

    638 Words  | 2 Pages

    The housing market crash was a response to a chain of businesses and people who believed that the old laws of banking were no longer important. Banks were no longer required to hold on to mortgages for 30 years which gave them the ability to sell off to other companies, without concern for the mortgage holders. David Harvey, a renowned geographer, warned us of this problem, stating that “labor markets and consumption function more as an outcome of search for financial solutions to the crisis-tendencies of capitalism, rather than the other way around. This would imply that the financial system has achieved a degree of autonomy from real production unprecedented in capitalism’s history, carrying capitalism into an era of equally unprecedented dangers” (Coe, Kelly, and Yeung, 2013)

    Read More

  • Globalization and Energy System in Indonesia

    2356 Words  | 5 Pages

    An outstanding mechanism frequently used to interpret ‘Globalization’ is the ‘World Economy’. Back to the colonial age, the coinstantaneous behaviors of worldwide capitals and energy resources flowed from colonies to western countries has been regarded as the rudiment of the economic geography (Jürgen and Niles, 2005). Nowadays, the global economy was dominated by transnational corporations and banking institutions mostly located in developed countries. However, it is apparently that countries with higher level of comprehensive national strength are eager for a bigger market to dump surplus domestic produce and allocate energy resources in a global scale, thus leads to a world economic integration. This module was supported by several historical globalists (Paul Hirst, Grahame Thompson and Deepak Nayyer) ‘their position is that globalization is nothing new but more fashionable and exaggerate, a tremendous amount of internationalization of money and trade in earlier periods is hardly less than today.’ (Frans J Schuurman 2001:64).

    Read More

  • Globalization: The Path to Destruction

    1766 Words  | 4 Pages

    Just imagine waking up in squalor, a once prominent society, now a desolate wasteland. All because foreign interest has raped your land of its natural resources and you seen not a cent in profit. Although, globalization is unifying the worlds developed nations and is bringing commerce to nations that have struggle in past years. True, globalization has many positive effects but do the pros outweigh the cons. In this essay I will discuss Globalization ruining the integrity of many countries and also is forcing many undeveloped nations into a bind, and is causing economic distress on some developed nations. Also, due to economic globalization the nations of the world are diluting their culture, sovereignty, natural resources, safety and political system. My goal is not to change your way of thought, but only to enlighten you of the negatives of global economic expansion.

    Read More

  • Globalization: A New Form of Economic Imperialism

    2008 Words  | 5 Pages

    Globalization is a new concept that was introduced to the world after the fall of the communist regime. Globalization has to its identity social, economic, and political reforms, .however the globalization that we are about to discuss is the term that combines the past socio-economic and political reforms and cross with them to the world where their are no boundaries, restrictions, and immobilization what Mittelman describes as ? cross-border flows of capital, knowledge, and consumer goods ? (Mittelman 1). For the world to become a one or a single entity it has to pass through a process of economic, and technological integration. The consequence of this unification is the aim of this research, positive and negative, although the negative aspects will be the dominating part.

    Read More

  • Impact of Globalization on Indian Economy

    1556 Words  | 4 Pages

    Globalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard.

    Read More

  • Globalization

    855 Words  | 2 Pages

    Daniels, Joseph P., and David D. VanHoose. Global economic issues and policies. New York: Routledge, 2011.

    Read More

  • Globalization Essay

    941 Words  | 2 Pages

    Over the last couple of years, the world has become increasingly globalized. After the cold war, all parts of the world were attracted to the process of globalization. The effect of globalization is uneven in different parts of the world and globalization suggests a world full of persistent cultural interaction and exchange, contacts and connection, mixture and movement. Different people view globalization in different ways. Some people feel it has done more good than harm, while others believe it has done more harm than good. This essay will give a deep intuitive understanding of globalization, world systems, and how globalization has affected society, culture, economics, and politics.

    Read More

  • The Disadvantages of Globalization

    1583 Words  | 4 Pages

    Krain, Matthew (2005), “AP Comparative Government and Politics Briefing Paper: Globalization,” [http://apcentral.collegeboard.com/apc/public/repository/ap05_comp_govpol_glob_42253.pdf], accessed 15 May 2012.

    Read More

  • Globalization Essay

    1112 Words  | 3 Pages

    Globalization, the acceleration and strengthening of worldwide interactions among people, companies and governments, has taken a huge toll on the world, both culturally and economically. It’s generating a fast-paced, increasingly tied world and also praising individualism. It has been a massive subject of matter amongst scientists, politicians, government bureaucrats and the normal, average human population. Globalization promoted the independence of nations and people, relying on organizations such as the World Bank and also regional organizations such as the BRICs that encourage “a world free of poverty” (World Bank). Despite the fact that critics can argue that globalization is an overall positive trend, globalization has had a rather negative cultural and economic effect such as the gigantic wealth gaps and the widespread of American culture, “Americanization”; globalization had good intentions but bad results.

    Read More

  • Economic Globalization

    952 Words  | 2 Pages

    Globalization has been a start of a new modernized era in history. The source states that as an individual you are given prosperity, stability, and also predictability, and also points out that it helps developing countries modernize and catch up with developed countries, and also reduce poverty since new businesses are formed allowing more employment in the country due to the subsidies that wealthier countries give to them. The person who wrote this source is a pro globalist, and has probably experienced the prosperity that was given to them because of the global trading system. His perspective on globalization suggests that globalization is the key to advancing technology, good relations between countries, and is beneficial event in history. One should embrace the global economy as it creates many roads to achieve your goals in your life, and also for the weaker countries that needs support, but to a degree that the government can intervene with the market.

    Read More

More about Globalization and Political Policy

Open Document