Globalization In Global Society

“Globalisation” as an idea is somewhat a new phenomenon, and certainly is a word that has become a sort of commonplace in society over the last two decades. But the process of globalisation is not one which is a new ‘player’ to the field, although it is the increase in the exchange of knowledge, trade and capital around the world, driven by technological innovation which has thrust the term to the forefront . But still many people today often find themselves asking what exactly globalisation is. Often the first association that springs to mind for a large part of the world’s population upon hearing the term are large corporations such as McDonald’s and Coca Cola. These are just associations to make, as by definition “‘Globalisation’ is the

According to Amartya Sen, a Nobel-Prize winning economist, globalisation “has enriched the world scientifically and culturally, and benefited many people economically as well” . The United Nations has even predicted that the power of globalisation may eradicate poverty in the 21st century . Globalisation has often been condemned by critics of free market economics, like the economists Joseph Stiglitz, for prolonging inequality in the world rather than reducing it . Often “Globalisation” is seen as a synonym for global “Westernisation”. There is considerable agreement among many proponents and opponents of this view. Those who take a positive stance on globalisation often see it as a contribution of Western civilisation to the world. For those who take the opposite outlook, Westernisation or Western dominance, which can been seen as a prolongation of Western imperialism is the subject of apt criticism . In this respect, modern capitalism, led by ‘greedy’ Western countries in North America and Europe, is guilty of establishing rules of trade and business relations that do not serve the welfare of LEDCs, and by extension the poorest people in the global

The definition of globalisation remains accurate care less of which period it is applied to, it is just a question of how it is being communicated in the period in question. In this current period mass media and the universal use of the internet has given rise to a modernised version of globalisation, as no longer is it just multinational corporations which extend an influence on the reaches of globalisation, but rather social media has incorporated the influences of the everyday citizens into the field of globalisation of the world. The use of social media has made the global sharing of knowledge and culture easier than ever. It is possible for an idea to be spread globally in a matter of seconds once shared through the right platform, something which is key in the modern spread of globalisation. The internet and social media are crucial in the roles they play in the connection of the world as a whole, they are the catalysts for this current period of