Globalization
is a complex and multifaceted phenomenon. It is the process of international
integration as a product of exchange of world views, products, ideas and other
aspects of culture in which worldwide exchange of national and cultural
resources occurs in the process. Many factors contributed for the growth of
globalization major being advancement in transportation and communication. The
current wave of globalization is nothing but the result of Schumpeterian
evolution in technology along with interaction of many actors at different
levels of the economy. Globalization means different for different people.
The
term globalization is used to describe the economic, political, social and
cultural changes of the world in the last odd fifty years, which was
accelerated by the scientific revolution to the diminishing of national and
geopolitical boundaries in an expanding transnational movement of goods,
services and capital. No single definition exists, when we talk about
the ‘definition’ of globalization, as it is with all other core concepts in the
social sciences; its precise meaning remains contested. Let’s take few
definitions into consideration here.
According to the sociologist, Roland Robertson,
“Globalization as a concept refers both to the compression of the world and the
intensification of consciousness of the world as a whole, both concrete global
interdependence and consciousness of the globe whole.”
According to Mary C Waters, “Globalization is
understood in social process in which geographical obstacles to social and
cultural arrangements lose importance.”
According to Peter Dicken, “Globalization is
inherently geographical as a process requires us to consider the way; space,
place and time are configured and recognized as a result of contemporary
changes in technological, economic and political practices.”
Anyhow Alan L Mittleman, comprehend the
definition of globalization under three aspects; First, as an intensification
of global flow of goods and production factors facilitated by modern
transportation and communication. Secondly, as a compression of time and space
in a way that events in one part of the world have instantaneous effects on
distant locations and finally to comprehend globalization as a historical structure
of material power.
Thus the term globalization acquired all these
connotations and exemplifying its influence on different realms of life.