Globalization is a spatio-temporal process and ‘the transtionalization of capitalism, interconnected to world economic system’ . Gayatri Spivak uses the concept of ‘globe girdling’ to denote the sense that the world is shrunk and all parts will become the same. The role of the nation state, democracy, power relations and the binary logic of homogenization and heterogeneity of culture are being questioned and reconfigured. This paper attempts to provide a framework for understanding the way globalization has reshaped the terrain and parameters of social, economic and political relations both at the national and global levels, and exerted pressure on the resiliency capacities of capitalism. It will also stress on how global capitalism, in turn, have brought a myriad of inequalities in the increase of income inequality both among and within nations, in high chronic levels of unemployment in Western Europe and elsewhere, and, most of all, in the devastating consequences of unregulated financial flows.
Table of Contents
1. INTRODUCTION
1.1 Definition of Globalisation
2. Global Capitalism – An Ideological Facade of Imperialism?
3. DISCONTENTS of globalization and exclusionary practices of global capitalism
4. Global Inequality & Poverty
5. The Misfits of Economic Liberalism
6. Labour Relations & exploitation
7. The homogenization of the world
8. The Creation of Transnational Corporations
9. CONCLUSION
Objectives & Research Themes
This paper examines how globalization and the concept of 'globe girdling' have reshaped social, economic, and political relations while reinforcing exclusionary practices within global capitalism. The research investigates the transition from nation-state-based systems to a transnational phase, focusing on the resultant inequalities and the erosion of national sovereignty.
- The ideological role of global capitalism in perpetuating imperialist structures.
- The impact of global economic processes on income inequality and poverty.
- The shifting power dynamics between the nation-state and transnational corporations.
- The sociocultural consequences of globalization, including homogenization and labor exploitation.
Excerpt from the Book
Global Capitalism – An Ideological Facade of Imperialism?
Today no one can dismiss the fantastic concentration of power that is embodied in what are called financial markets, dominated by exchange speculation. With the advance of globalization, those markets are now the most profitable. Therefore, and increasingly, the distribution of world income responds to virtual operations performed in the financial sector. This is the clearest manifestation of an emerging reality well described as global capitalism, the precursor of a future world system of power.
Fukuyama (1992) admires globalization as the triumph of capitalism and its market economy, and Friedman (1999, 2006) welcomes a ‘flattening’ and fibre-optic global world with unbounded enthusiasm. Even if we ignore these popular triumphalists who defend a globalizing world as united, it is a harsh reality that the economic logic of contemporary capitalism penetrates every corner of human life across the globe. Already in the middle of the nineteenth century, Marx predicted a global move toward unconstrained capitalist expansion:
All that is solid melts into air [...]. The need of a constantly expanding market for its products chases the bourgeoisie over the whole surface of the globe. It must nestle everywhere, settle everywhere, establish connections everywhere. [...] In one word, it creates a world after its own image. (Marx and Engels, [1848] 1998: 38–40)
Historically, Marxist critics have defined globalization as the developed countries and multinationals’ imperialist expansion ‘without colonies’ (Magdoff, 2003) through absorbing surplus from the so-called ‘third world’ and thus undermining its technological, political, economic, cultural conditions.
Chapter Summary
INTRODUCTION: Defines globalization as a complex spatio-temporal process involving the intensification of worldwide interconnectedness.
Global Capitalism – An Ideological Facade of Imperialism?: Explores how contemporary globalization acts as a front for imperialist expansion, concentrating power in financial markets.
DISCONTENTS of globalization and exclusionary practices of global capitalism: Discusses the absence of global governance and the resulting formation of a transnational class structure.
Global Inequality & Poverty: Analyzes how the reterritorialization of capitalism exacerbates the gap between the North and South, worsening global misery.
The Misfits of Economic Liberalism: Examines neo-liberalism as an economic philosophy that prioritizes deregulation, often leading to corporate dominance.
Labour Relations & exploitation: Highlights how capital mobility and international production have weakened the bargaining power of workers.
The homogenization of the world: Investigates cultural globalization through Appadurai’s five forms of flow.
The Creation of Transnational Corporations: Analyzes the emergence of the TCC as a ruling class lacking national anchorage.
CONCLUSION: Summarizes that globalization is an ongoing, contested syndrome rather than an inevitable process with a predetermined outcome.
Keywords
Globalization, Global Capitalism, Imperialism, Nation-state, Transnational Corporations, Inequality, Poverty, Neo-liberalism, Labour Exploitation, Homogenization, Financial Markets, Ideology, Power Relations, Cultural Geography, Economic Liberalism.
Frequently Asked Questions
What is the primary focus of this paper?
This paper explores the systemic inequalities and exclusionary practices inherent in global capitalism, utilizing Gayatri Spivak’s metaphor of 'globe girdling' to analyze contemporary global transformations.
What are the core themes addressed?
The core themes include the impact of transnational capital on the nation-state, the rise of global inequality, the ideological nature of neoliberalism, and the reorganization of labor and cultural flows on a global scale.
What is the research's main objective?
The objective is to provide a critical framework for understanding how globalization reshapes social, economic, and political parameters and to expose the devastating consequences of unregulated financial flows.
Which theoretical approach is applied?
The paper draws upon Marxist theory and postcolonial critique, incorporating perspectives from scholars like Spivak, Stiglitz, and Appadurai to challenge triumphalist views of global capitalism.
What topics are discussed in the main body?
The main body covers the ideological facade of imperialism, the transition to transnational capitalist structures, the mechanics of global inequality, labor exploitation, and the cultural homogenization of global society.
Which keywords best describe this work?
Key terms include Global Capitalism, Imperialism, Transnational Corporations, Neoliberalism, Inequality, and Labor Exploitation.
How does the author define the 'globe girdling' concept?
The author uses this concept to illustrate the perception that the world is shrinking and becoming homogenized under a new system of inequalities operated by global capitalism.
Why does the author argue that the nation-state is becoming less relevant?
The author notes that transnational corporations increasingly operate without a permanent national anchorage, prioritizing capital accumulation on a global scale over the interests or regulations of specific nation-states.
- Arbeit zitieren
- Soodha Mungur (Autor:in), 2011, Globe Girdling - the new system of inequalities operated by global capitalism, München, GRIN Verlag, https://www.hausarbeiten.de/document/170886
