The term “globalization” has a very long history. However, it has been increasingly used since 1980s. It means the process of spreading social bond all over the world. People began to spread their ideas and started to move from one country to another. Every person brought something new from another culture. Such movements were very massive, and that is why the term got the name “globalization”. The process of globalization started ages ago. It existed from the beginning of the world. When the tribes conquered each other, people assimilated and borrowed something new (Steger 7-9).
Globalization is not only referred to migration of people and jobs. It has some cultural aspects as well. It is obviously that globalization led to a mixture of different societies and cultures. As a result, multiculturalism was produced. Globalization led to the discussion of questions concerning gender issues (Steger 10-13). From my perspective, it is a very positive side of globalization.
However, globalization has a negative side. Economic globalization can easily threaten the power of the nation state. The nation state has to reorganize itself. Global economic influence on the economy of a nation is very significant. The nation state has not influenced people’s well-being. If the economy of one country is crashed, all countries in the world will feel it. The nation state economy completely depends on the global economy. Monetary policy lost its ability to be independent. The European Union is a good example of lack of monetary policy in the nation states (Steger 26-48).
After the period of capitalism, there were many challenges. People wanted to create a global free market with unrestricted flows of money. It was the position of neo-liberal globalization (Thornton 8-13). It was new and differed from liberal capitalism. The base of liberal capitalism was a free market. However, it was free only to the nation’ state companies. Only big companies could be competitors in the global market. National state capitalism claims that all enterprises are the property of the state. Such enterprises can be private; however, they are controlled by the government. Therefore, there was no freedom in the trade markets (Schweickart 18-29).
From my perspective, only big transnational corporations had many benefits from the liberal capitalism. They had free markets and spread their power all over the world. Sometimes, even the nation state could not control them completely. Today, such companies are prosperous and rich. Actually, liberal approach explains it in the best way. Nation state adopted many laws for supporting them, which led to their success and well-being.