blog




  • Essay / The political economy of globalization - 1160

    Globalization exists when neither distance nor international borders stand in the way of economic transactions. Additionally, globalization increases political relationships among a wide variety of people and nations. Globalization, according to L. Mosley, “does not take political borders into account” (Mosely, 2007, p. 107); it establishes a feeling of openness and acceptance across all corresponding countries. In “The Political Economy of Globalization,” Layna Mosely asks: “Is economic globalization changing the capabilities of national governments?” Globalization certainly benefits countries financially and increases “overall national well-being,” but how does globalization influence governments? (Mosely, 2007, p. 107) According to N.Klien, Globalization and economic prosperity work accordingly with national reform, he discusses this correlation with globalization and its implication in South Africa. With a discontented political structure, a state, regardless of its resources and potential, can still collapse. Political unrest in South Africa has caused unrest throughout the state; political instability and restrictions imposed on various associations (WTO, GATT) made success difficult. I believe that globalization, rather than harming the nation-state, actually facilitates it; the existence of national associations can reject or accept any notion of globalization. Globalization has certainly had an impact on both developing and developed countries, only forcing them to adapt to these circumstances. In “The Political Economy of Globalization,” Layna Mosely illustrates the various changes and influences brought about by globalization. Globalization has removed political borders; it is the result of “deliberate decisions by politicians”. Mosely and Klien discuss the impact of globalization and its influence on the nation-state; they figuratively agree on the pressure this inflicts. Mosely argues about how globalization might further limit and accelerate government action. Klien argues about the restrictions and potential that globalization could promote. I believe that globalization makes government interventions easier; the existence of national structures can exclude or authorize any notion of globalization. Globalization has certainly had an impact on developing and developed countries, only forcing them to adapt.BibliographyMosley, L. (2007). The political economy of globalization. 106-112 Klien, N. (2007). Democracy born in chains: South Africa restricts freedoms. 233-261