Lecture 1 - Introduction Flashcards
Who is the largest global employer
US department of defence
USA + FDI stocks
USA - Biggest ‘sink’ of FDI stocks globally, UK 2nd.
How much FDI did the USA receive in 2016
$385 billion
When did the USA receive $385 billion in FDI
2016
Where did most FDI come from in 2015
The Netherlands
UK - where are they ranked on giving FDI
Not even in the top 20 globally
What percentage of top world’s 100 economic entities are corporations (including nation states)
69%
What is 69% a percentage of
What percentage of top world’s 100 economic entities are corporations (including nation states)
Which is the only country that had a bigger revenue than Walmart in 2015
Canada
Which country spends the highest proportion of its GDP on the military/defence
Saudia Arabia - 10%
How many EU born nationals were working in the UK in the Q1 of 2017?
2.4 million
When did globalisation peak
1970s and 80s
Nowadays what is globalisation moving towards
Free market capitalism
What ideas are linked to globalisation
Certain political ideologies today e.g free market, neoliberalism
In the mid-19th century what were political ideologies (such as free market + neoliberalism) linked to
Communism and proletarian rule
20th century globalisation focus
- How to make communism into a global entity
- A capitalist approach
Where does contemporary globalisation have its routes
In late 1970s and 80s
What is contemporary globalisation link to
The political-economic doctrine of NEOLIBERALISM. Local and national impact.
Who were key figures in the promotion of contemporary globalisation
Margaret Thatcher & Ronald Reagan – Saying and developing their policies around globalisation, neoliberalism etc. Trade Unions were seen as having too much power.
When was neoliberalism
Succeeded end of 1980s with fall of Berlin Wall, collapse of USSR.
What did the collapse of communism allow
Necessity of free markets, creating truly global economic competition
How did Freidman make his name
By interpreting practically any event anywhere in the world through this simple, inevitable, discourse of integration. Simplistic positive spin.
Cynical view of globalisation - Dicken, 2004
- Uneven geographical and social outcomes
- A very broad term
How has a cynical view of globalisation
Dicken, 2004
What has globalisation become dominant in the study of
The beginning of the millennial
Globalisation as integration
Economic, political and social integration that have collectively created ties that make a difference to lives around the world
Globalisation as integration - what has played a major role
Technological change has played a major role. Empire building and colonialism, building of Empires. Navigation, transport – speeded up flow of goods etc.
What did political leaders use the term ‘globalisation’ for
To sell particular packages of policies
What policies is the term ‘globalisation’ used to sell
- Free trade
- Privatising services
- Lower taxes
Aim of privatising public services
Use business efficiency
Aim of enforcing property rights
Patent protection
Why reduce inflation
Price stability and savings protection
Why de-unionise
Respect rights to work and labour flexibility
What is export led development
Trade not aid
What 3 myths is a dominant discourse focused on
- New
- Inevitable
- A leveller
The view that globalisation is new
- The fascination and power of something new
* Capitalism’s need to conquer new markets and promote new linkages is far from new
The view that globalisation is inevitable
- Dangers - becomes taken for granted – “oh it is just globalisation”.
- Removes the power of alternatives/ think less of alternatives. Role of the local? Thinking in a more particularistic fashion about the economy.
The view that globalisation is a leveller
- Global economic space is flat – people can move around the world at their whim, there aren’t any barriers to this
- It is profoundly uneven in all sorts of ways. Hasn’t solved any of economic/social inequalities out there.
Ohmae 1990
- Globalisation as an ‘end state’ (Ohmae 1990)
- Some to aspire to or to avoid
- Problems with this…
Who states that globalisation is an end state
Ohmae 1990
Giddens 1990
-Globalisation as ongoing process (Giddens 1990)
-No a priori reason to assume that things will pan out a certain way
Contingent and open-ended
-Not going to solve all of our ills/wos, should be studied and open ended. May be more alternatives out there.
Who states that globalisation is an ongoing process
Giddens 1990
A single or primary imperative cause of globalisation
- Capitalism
- Technological change (internet?)
- Monocausal accounts
Multiple and interlocking causes of globalisation
- Technological change
- Cultural transformation
- Political changes
- Neo-liberalism – deep ideological shifts
How can we see globalisation in the past (not all modern)
Trade networks in medieval times certainly had global aspects
Different trajectories (paths) of globalisation
1) A ‘secular’ process of global integration. World will continue to integrate more and more.
2) Historical rootedness – the path dependent approach. Future will always be governed by history.
3) Both fragments and integrates; it ‘pushes’ and ‘pulls’.
How is globalisation a push and pull process
One way fragmented – breaking down of initial assumptions of who has the power, nation states have less and less power than they used to. Changing the way in which they manufacture and sell services. With lection of Donald Trump, Brexit – probably a good theory
3 thesis for globalisation
- The hyperglobalist thesis
- The sceptical thesis
- The transformationalist thesis
Quote on the hyperglobalist position (view on globalisation)
Giddens 1999: ‘Globalisation is political, technological and cultural, as well as economic’
Quote on the sceptical position (view on globalisation)
Glyn + Sutcliffe 1992: ‘The world economy is considerably more globalised than 50 years ago; but much less so than is theoretically possible’
Quote on the transformationalist approach (view on globalisation)
Held 1999: ‘Contemporary processes of globalisation are historically unprecedented’
