|
 Globalization is a
word that has several connotations today. But broadly speaking, it
is a process which began around the late 1970s, by the shift in
world economy from an international to a more global one. In the
international economy, individuals and firms from different
countries traded goods and services across national boundaries,
and the trade was closely regulated by nation-states. In the
global economy, goods and services are produced and marketed by an oligopolistic web of global corporate networks whose operations,
although spanning several national boundaries, are only loosely
regulated by nation-states.
The Paradigm Shift
The paradigmatic
shift to a global economy has been possible because of the
'Information Technology' revolution ushered in by synergistic
developments in the fields of microelectronics, opto-electronics,
computing, and telecommunications. The global economy is therefore
also an informational economy, in which the method of production
has shifted from mass production of goods at a centralized
location (Fordism) to a flexible system of production (post-Fordism).
Advanced
combinations of telecommunications and computing technologies (telematics)
have underpinned a new and variable dimension of international
economic activity, and also a new social division of labor. Other
contributory factors have been the globalization of finance —
evident in the emergence of transnational banks and investment
companies — and the advent of twenty-four hour global trading in
capital and security markets. The growth of the Euro-dollar and
the increased interest shown by national governments in attracting
foreign investments have also expedited the process, duly
encouraged (or, often coerced) by the World Bank, the IMF and the
OECD.
The Cultural Dimensions of Globalization
The process of
globalization has also its cultural dimension, which has been
conceptualized in terms of cultural flows that both reflect and
reproduce global metropolitanism. Arjun Appadurai, (Professor of
International Studies and Director of the Initiative on ‘Cities
and Globalization’ at Yale University), suggests that there are
five dimensions to these flows:
-
ethnoscape: produced by flows of business personnel,
guestworkers, tourists, immigrants and refugees
-
technoscape: by flows of machinery, technology and soft ware
produced by trans-national corporations and gov- ernment agencies
-
finanscape: by flows of capital, currencies, and securities
-
mediascape: by flows of images and information through print
media, television and films
-
ideoscape:
by flows of ideological western worldviews like democracy,
sovereignty and welfare rights
To these, Paul Knox
(Professor and Dean, College of Architecture and Urban Studies,
Virginia Polytechnic Institute) adds a sixth category,
commodityscape — produced by flows of high-end consumer products
and services that are signifiers of taste and distinction, and are
propagated by the trans-national producer service....
more on
next page
|
