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globalization |
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The vague but omnipresent term for the changes – especially in the areas of finance, trade, investment and communications – which over recent decades have limited the effective economic freedom of sovereign states. The extreme claim is that linked but nevertheless previously separate national economies have been replaced by a ‘global economy’ and that national cultures are being slowly replaced by a ‘global culture’. In this process the activities of the multinational corporation are given pride of place, and the collapse of Communism and the de-regulatory policies of some of the leading free-market economies are held to have given it added impetus. Nevertheless, it is difficult to envisage globalization overcoming nationalism (sense 1) as there is as yet little evidence that the latter is withering as quickly as the former is alleged to be growing. |
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